The Indian Performing Right Society (IPRS), India’s only Government recognised copyright society tasked with administering rights in musical compositions and lyrics associated with music on behalf of its lyricist, composer and music publisher members successfully completed the annual royalty distribution for this quarter.
Mr. Javed Akhtar, Chairman of The Indian Performing Right Society Ltd. (IPRS), distributed more than Rs. 20 Crores to its authors, composers and publishers owner members at a function held in Celebration Club, Mumbai on 4th April 2019 at 10:30 am.
IPRS also distributed royalties to music composers & classical artists and legends such as, Pandit Shiv Kumar Sharma and Pandit Hari Prasad Chaurasia, both of whom were instrumental the amendment of the Copyright Act along with Mr. Javed Akhtar in 2012.
In 2017 the music industry in India saw a historic industry settlement among authors, composers and music labels that settled decades-long disputes which had hobbled IPRS and resulted in government inquiries in other cases.
In January and March 2017, IPRS underwent a major revamp to ensure compliance with the Copyright Act, 1957. This Act was amended in 2012 providing a new regulatory structure for Copyright Societies under the Copyright Act. The Government granted IPRS registration in November 2017.
Commenting on the distribution, Mr. Javed Akhtar, Chairman, IPRS said, “I am very glad that IPRS is beginning to benefit our classical music artists who epitomise our great music tradition. IPRS revenues have seen a significant increase in the year ended 31st March 2019 which is a result of the expanded rights mandate vested with IPRS and importantly its democratic constitution which allows all stakeholder non-discriminatory treatment, equal representation and a voice in the administration of IPRS. The revamped IPRS is now benefiting its author, composer and publisher members economically.
This royalty distribution event is a very optimistic sign that IPRS, which comprises of its author and composer members and music label colleagues, are all committed in their effort to ensure that IPRS as a representative body of all stakeholders acts in a non-discriminatory and transparent manner both in the interests of all stakeholders as well as that of potential licensees.”
About Indian Performing Right Society Ltd. (IPRS)
The Indian Performing Right Society (IPRS), incorporated in the 1960’s as a copyright royalty collection body is registered as a Copyright Society by the Government of India under the Copyright Act, 1957 and is authorised to conduct the copyright business of issuing and granting licenses in respect of musical works and associated literary works (lyrics) in India.