PPL meaning in Business ?
Answer: What is Phonographic Performance Limited mean?
Phonographic Performance Limited (PPL) is a British music copyright collective. It is a private limited company that is registered in the UK. PPL was founded by Decca Records and EMI and incorporated on 12 May 1934, and undertakes collective rights management of sound recordings on behalf of its record-company members, and distributes the fees collected to both its record company (rights holder) members and performer members. As of 2019, PPL collected royalties for over 110,000 performers and recording rightsholders.
PPL continues to be owned by record companies, which it refers to as "rights holders", who are legally the only "members" and the only ones entitled to attend the annual general meeting. In 2019, PPL announced its financial results, revealing £271.8 million was collected that year, an increase of 10% on 2018, and that growth was achieved across all three revenue streams. PPL is a member of the British Copyright Council (BCC)
After administration costs and contributions to anti-piracy activities and music industry charities—all of which are agreed by the membership at the AGM— all revenue generated from PPL licence fees is passed onto its registered record company and performer members as royalties for the use of their recorded music. PPL members range from session musicians and emerging artists to major record labels and globally successful performers. It is free to join PPL as a member.
PPL's field of operation is distinct from the UK's other main music copyright collective previously known as the "Performing Right Society", now called PRS for Music, which was founded in 1914 and originally collected fees for live performance of sheet music.
As of 2018, PRS has entered a joint venture with PPL under a Leicester-based private company called PPL PRS Ltd, which aims to making it easier for their customers to obtain a music licence, which they have called "TheMusicLicence".
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