British collecting society Phonographic Performance Ltd and its sister company Video Performance Ltd today (May 23) said its combined annual results for 2005 hit an all-time high.

British collecting society Phonographic Performance Ltd and its sister company Video Performance Ltd today (May 23) said its combined annual results for 2005 hit an all-time high.

Licence fee income for the two London-based organizations reached £99.3 million ($186 million).

PPL income in 2005 accounted for £86.5 million ($162 million), up 4.7% on the previous year. The society's distributable revenue reached £75.5 million ($142 million), up 5.4% from the previous year.

VPL's income totaled £12.8 million ($24 million), up 45.8% from the year before, thanks to strong performances in both the broadcast and public performance areas.

In 2005, PPL's costs-to-income ratio was 14.5%, against 15.1% last time. VPL's cost-to-income ration was a lowest-ever 10.9%.

In a statement, Fran Nevrkla, chairman/CEO of the collecting societies, said "This is a tremendous set of results for our record company members and performers."

PPL's results will be formally presented at its annual general meeting June 7 at the British Museum. John Whittingdale, chairman of the Culture, Media and Sport Select Committee, will be guest speaker. Whittingdale is member of parliament for Maldon and East Chelmsford.

PPL, which celebrated its 70th anniversary in 2004, collects and distributes airplay and public performance royalties in Britain on behalf of more than 3,500 record companies and 40,000 performers.

VPL was established in 1984 to administer the broadcast, public performance and dubbing rights in music videos. It currently has more than 1,000 member companies.