British CMO PPL set a revenue record in in 2023, pulling in £283.5m, the biggest total in the org’s 90-year history.

The growth of 4% over 2022 was driven by a rise in income from the use of recorded music in public places, up 11% to more than £111m in 2023, surpassing the pre-pandemic high.

PPL’s revenue from the licensing of recorded music for radio, TV and online uses increased 2.5% to £96.4m in 2023, partly driven by the negotiation of several new licenses for TV services.

International revenue reached £75.4m last year, down 3% over 2022.

Growth in collections by the majority of CMOs in 2023 was offset by the impact of declining revenue from monies for past periods, combined with the residual effect of several years of disrupted collections due to the repercussions of COVID-19.

“While much has changed in the 90 years since PPL was formed, the power of music to drive commercial value for businesses in the U.K. and beyond remains ever constant,” said PPL CEO Peter Leathem. “Research repeatedly shows that music increases both consumer dwell time and propensity to buy and drives greater productivity and attention to detail in the workplace. More and more businesses are investing in the power of music and its benefits. In these somewhat precarious times for performers, we are proud to deliver a consistent stream of income for them and recording rightsholders.”

The results follow from PPL’s 2023 distribution numbers, which hit £276.6m in 2023, up 14.3% year-over-year.