PPL - Performance Rights

Phonographic Performance Ltd (PPL) is a society which collects the royalties due whenever a recording is played in public. PPL is owned by its members who are all record companies. Artists do not join PPL, they register their details free with PPL so that once the money has been collected PPL know where to send it.
Once registered, you're given a unique code called a Performer Identification Number (PID). You then give it to the record company at recording sessions, which they submit to PPL when they register the track details. If the record company isn't a member, then no money is paid out at all, even if you as a player have registered with PPL.

Your label needs to join up before you can claim PPL royalties. It's free for them too, and if you think you're due some money as a performer on a recording, then they'll be due some as the owners of the copyright in it. It's in their interests to sign up.
You and your record company both have an obligation to inform PPL of all releases given details of who performed on them. This enables PPL to identify performers and labels and assists with calculating royalties. PPL royalties are paid once a year, each November. Royalties under £50 won’t be paid out.
Playing a record in public can be on TV or the radio, DJ’s playing music in clubs or private functions, background music in hotels or supermarkets or even companies playing music to you while you hold on the phone.
These people are potentially using copyright music and they need to buy licenses to do that legally. The money from these licenses then gets divided between all the people involved in making the record.

One of these licenses is paid to an organisation called PRS who represent authors of music and lyrics and share out the money from license fees among them for the use of their words and music.

The other license is the PPL licence which covers royalties generated by the exact recording that's used. The license money that PPL collects is split 50/50 between the owner of the copyright in the recording, usually the record label that released the track, and the musicians (all those who made a musical contribution to the recording) who played on the recording.

Whenever an artist’s song is played on radio, the songwriter receives a share of the PRS licence money and members of the band and any other people who played on the recording receive a share of the PPL licence money as well as the record company receiving a share.
If another artist was to record a cover version then the PRS Royalties would still be paid to the original songwriter, however, the PPL royalties would be paid to the band members who performed the cover version and their record company.
If any of the artists play the song live, PRS royalties would still be played to the songwriter because their song has been performed in public. However as it's a live performance and not a recording, there would be no PPL royalties. The PPL only collects royalties for the use of specific recordings of music in public places.
Registered performers can check PPL website to see if you are listed as a performer on any tunes you played on.
PPL are not able to collect royalties for performers of TV theme tunes and music used in adverts and films. In these cases artists would have to negotiate directly with the TV producers.