British CMO PPL paid out £279.6m to 165k performers and recording rightsholders in 2023. The cash figure is up 14.3% year-on-year.

PPL grew its payout by £34.9m in 2023 to mark its highest annual total in the org’s 90-year history. The £279.6m comes from licensing recorded music in the U.K. and the collection of neighboring rights royalties on behalf of international rightsholders.

The continued recovery from the COVID-19 pandemic was a key factor in achieving the total, according to PPL. The company also says its broad and growing network of international agreements with other CMOs, which spans over 110, was a strong contributor.

The headline number includes a payment of £7.7m by VPL—PPL's sister company, which licenses music videos when they are played in public or broadcast on TV—an increase of £1.6m year-on-year.

“We understand these payments are critical for many and we pride ourselves on our ability to deliver them consistently and on time,” PPL CEO Peter Leathem said. “As neighboring rights continue to develop around the world, we see a huge opportunity ahead to grow our market share and maximize revenues for performers and recording rightsholders.”