At the recently held CISAC General Assembly 2019 in Tokyo, CISAC chairman Eric Baptiste declared the Indian Performing Rights Society (IPRS) to be the world’s fastest-growing copyright society.
IPRS is India’s only registered copyright society for authors (lyricists), music composers and music publishers.
“IPRS revenue/collections have increased by 350%+ over the last year i.e. from INR 45 cr to approximately INR 165+ Cr. This was possible due to the support and guidance of our Chairman Javed Sahab (Javed Akhtar) and members of our Board. The IPRS team has acquitted itself extremely well. Going forward, I am confident IPRS will continue to grow at this rate because it is supported by the law,” Rakesh Nigam CEO, IPRS said.
Various representatives of global Copyright societies, including IPRS, attended the event. The IPRS team comprised of CEO Rakesh Nigam, Aashish Rego, IPRS director and Ameet Datta, Counsel of IPRS.
“This recognition that, IPRS is the fastest growing copyright society in the world, is most welcome. I am extremely pleased and thankful for the support CISAC led by Eric Baptiste-Chairman, Gadi Oron- Director General, Sylvain Piat, Benjamin NG- Regional Director, Asia Pacific at CISAC and the Government of India, gave IPRS during the past year towards IPRS restructuring its constitution and operations and its efforts to become a true representative of all stakeholders of Music in india. This is a team achievement with all stakeholders in IPRS pulling together. The IPRS team led by our CEO Rakesh Nigam is to be commended for their outstanding performance this past year. I am confident that IPRS will continue to grow at a fast rate and serve the interests of its members more effectively,” said Javed Akhtar, IPRS chairman.
CISAC (The International Confederation of Societies of Authors and Composers) is the International Confederation of Societies of Authors and Composers, which represents 239 member societies in 122 countries/territories.
CISAC Global Collections Report
The CISAC Global Collections Report features CISAC’s exclusive global data and analysis of royalty collections declared by member copyright societies annually.
The 2019 report shows in-depth data from CISAC’s 239 member authors’ societies in 121 countries. It includes ten individual country case studies, breakdowns by region, global growth forecasts on video streaming and, for the first time, comprehensive pages of raw data, including country and repertoire rankings.
Global royalty collections for creators of music, audiovisual, visual arts, drama and literature rose to a record high of €9.6 billion in 2017, up 6.2% on the previous year.
Royalties from digital income are reported over the €1 billion mark for the first time after a 24 % increase in 2017. Digital collections have nearly tripled in the last five years, boosted by surging consumer uptake of streaming services.
Despite digital’s rise for all repertoires to €1.27 billion, revenues from digital uses remain far below collections from broadcast, live and background uses. Only 13% of creators’ royalties come from digital sources, reflecting the gross mismatch between the volume of creative work being made available via digital channels and the amounts being returned to creators.
It is the fifth consecutive year of global growth for creators, and the first to see increases in all repertoires. Solid growth in TV and radio collections suggests surging digital revenues are not currently cannibalising traditional markets. In 16 of the top 20 digital collecting countries, broadcast royalties saw growth.
Asia Pacific Region
Asia-Pacific member society collections reached €1.35 billion in 2017, with a 14.2% global share of collections. Creators’ income from digital channels has overtaken live and background for the first time, reaching €307 million, second only to TV and radio. Digital is driving growth, particularly in China which showed 24% growth in 2017.
CISAC’s priorities in the region are to support growth and development, particularly in China, Indonesia and Korea. In 2018, CISAC launched the 2018 Global Collections Report during the China International Import Expo, a widely reported event highlighting progress and collaboration on modernising China’s copyright framework.
In January 2019, CISAC welcomed back IPRS after two years of reforms, following the society’s temporary exclusion in 2016. CISAC will continue monitoring, guiding and helping the copyright society through the CISAC Developmental Review programme to align its governance, transparency, licensing, collections and distributions to global best practices. The Indian government also granted registration once again to IPRS under national copyright law.
“I want to assure all those who entrust their copyrights to the ‘new IPRS’ of our determination to become, in the shortest possible time, a world-class society, accurately tracking and monetising all usage of their musical works in the country,” said Javed Akhtar, Former CISAC vice-president, and IPRS chairman.
The CISAC’s General Assembly 2019, which was held in Tokyo this year, is the first event held in many years in Asia and is a part of a new era in Japan. The various representatives of global Copyright societies, including IPRS, attended the event. Japanese Prime Minister Abe Shinzo not only graced the event and met CISAC leaders but also underlined the importance of protecting the rights of global creators including Japan.
- 2019.05.21TikTok’s parent company ByteDance to enter Indian music streaming market
- 2019.05.21Will playlist malfeasance create a streaming crisis?
- 2019.05.17Eventbrite teams up with Facebook for ticket distribution
- 2019.05.17Sony Music ventures into podcast, partners with Adam Davidson and Laura Mayer