The rapid spread of music video channels helped British collecting society Video Performance Limited today (Nov. 10) report near-double-digit gains in full-year license fee income collections.

The rapid spread of music video channels helped British collecting society Video Performance Limited today (Nov. 10) report near-double-digit gains in full-year license fee income collections.

For the year ending December 2004, the London-based, non-profit organization says it generated a 9.5% year-on-year rise in license fee collections to £8.7 million ($15.15 million). The growth percentage was annualized due to the corresponding previous term ending December 2003 being a seven-month financial period.

"The proliferation of music video channels and the increase in number of public performance sites showing music videos has enabled us to grow this income for our members," comments Fran Nevrkla, chairman and CEO of VPL and sister collecting society Phonographic Performance Limited.

Broadcasting income accounted for more than £7 million ($12.19 million) in VPL's collection pie. During the period, public performance generated income of more than £1 million ($1.74 million). The cost to income ratio of running the organization stands at 14.2%.

In May, PPL reported total licensing revenue for the year of £82.7 million ($155.7 million), up 3.4% from 2003. "We are determined to grow VPL income as well as PPL income going forward," Nevrkla adds.

VPL was established in 1984 to administer the broadcast, public performance and dubbing rights in music videos. It currently has some 900 member companies and boasts 50,000 music videos registered with it. The organization will present the financial figures to its members at its Nov. 22 annual general meeting in London.