Indian Performing Right Society distributes royalty of Rs 20 crore to its composers, songwriters and publishers
Mumbai-based Indian Performing Right Society Limited (IPRS) distributed royalties worth more than Rs 20 crore to composers, songwriters and publishers on Thursday. According to a statement, Javed Akhtar, veteran lyricist and chairman of IPRS, distributed the money to the board members.
The IPRS is a representative body of artists and music owners, including composers, lyricists, authors and the publishers of music. The board also distributed royalties to legendary music composers like Pandit Shiv Kumar Sharma and Pandit Hariprasad Chaurasia. The contributions of both the musicians were instrumental in the amendment of the Copyright Act, along with Akhtar in 2012.
According to a report in Indo-Asian News Service, Akhtar said, "I am very glad that IPRS is beginning to benefit our classical music artistes who epitomise our great music tradition. IPRS revenues have seen a significant increase in the year ended 31 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.”
In 2017, to ensure compliance with the Copyright Act, 1957, the IPRS underwent a major revamp. In 2012, the act was amended, providing a new regulatory structure for Copyright Societies under the Copyright Act.
He added that IPRS is now proving to be economically beneficial to the member authors, composers and publishers. He said that the royalty distribution event is also a very optimistic sign that that all members of the body are jointly committed in their effort to ensure that it representative of all stakeholders and acts in a non-discriminatory and transparent manner.
(With inputs from Indo Asian News Service)
Updated Date: Apr 05, 2019 13:01:33 IST
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