When it comes to royalties distribution, the newly released CISAC – The International Confederation of Societies of Authors and Composers – Global Collections Report 2021 says that most societies do not expect to recover their 2019 collections level before 2022. This means that creators will suffer income declines until at least 2023. The Paris-based apex body comprises 232 Authors’ Societies in 121 countries representing more than four million creators.
Closer home though, there appears to be an upswing. The Indian Performing Right Society Limited (IPRS) – a representative body of music composers, lyricists, and publishers – has paid Rs 183.25 crore of royalties to author and other owners as compared to last year’s Rs 141.68 crore. This is revealed in the body’s 2021 second annual transparency report.
As per the CISAC, collections in India were boosted by a 55.7% increase in TV and radio royalties due to a substantial payment received towards past settlement and for the year up to March 2020. New deals were also signed in the country with Facebook, Alt Digital and Hungama Music, the first Indian music streaming platform to be licensed by IPRS. On a global ranking, India has climbed fourteen spots from the 2019 report to reach a worldwide position of 33, just after Colombia and before Chile. India sports a 2.2% growth with a 0.2% global market share.
Furthermore, the Global Collections Report revealed that the IPRS was ranked the sixth largest society by revenues in the Asia-Pacific region, out of 11 such bodies, featuring in the Top 50.
Javed Akhtar, Chairman, IPRS said in a statement, “The past several months have been extremely unfavourable. Members across industries have been affected physically, mentally, and financially. IPRS has always believed in safeguarding the rights of its members. And irrespective of the challenges, I’m proud that we at IPRS went all out to keep our earnings alive and ranked as the 6th largest society by revenues in the Asia-Pacific region.
We feel delighted that our copyright body has been able to secure the rights of over 8,000 plus members, and we look forward to continuing our support to our author, composer and publisher members.”
Rakesh Nigam, CEO of IPRS commented, “We are glad to share that IPRS distributed the largest share of royalty in the past two years. With this, we hope to increase the collection every year and help the authors, composers and publishers obtain their rightful dues for their immense contribution to music and the industry as a whole. Also, having an indispensable role in protecting the Members’ Rights, being a member of IPRS is in a way a long-term investment for the authors, composers and publishers of music.”
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