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PPL 'cuts its cloth' to boost revenue.(Profile)
With income from broadcasting and public performance becoming an increasing priority for record companies, PPL achieved a rise in licence revenue of 4.3% to 75.5m [pounds sterling] in 2002.
The collecting society achieved an 8.3% increase in the amount distributed to its members--from 56.4m [pounds sterling] last year to 61.1m [pounds sterling]--taking into account the added benefit of 2.4m [pounds sterling] in cost savings.
Director of operations Clive Bishop accepts that PPL income has become increasingly important to record labels, but says PPL's modest increase in licence revenue is understandable.
"I think the 4.3% growth reflects the tough times," he says. "The commercial radio sector is not as buoyant as it could be and clubs are having a hard time of things. Many clubs are closing and that has affected things.
"But, in an era when record companies are reporting a downturn and against an economic backdrop which isn't good, we have put in positive growth. [Market value] growth in Britain isn't anywhere near 4.3%."
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