According to the IFPI‘s recently published IFPI Global Music Report, the global neighboring rights market grew to USD $2.5 billion in revenue in 2022 – up 8.6% YoY, and accounting for 9.4% of the worldwide recorded music market. This week, UK-based PPL announced that it will pay out GBP £17.4 million (USD $21.5m at current exchange rates) in its Q1 distribution of international revenues (aka neighboring rights revenues).
