Veteran writer and lyricist Javed Akhtar, who is chairman of the Indian Performing Rights Society (IPRS), has been championing for musicians to get their dues and royalty.
Raj kummar Rao packs a punch with spine-chilling look in the latest trailer of Omerta
The day finally came for the members of IPRS as the lyricist distributed Rs. 13 crores to them as a part of the royalty given by music companies.
According to their official website, IPRS issues licenses to the users of music and collect royalties from them, for and on behalf of its Members i.e. the Authors, the Composers and the publishers of Music and distribute this royalty amongst them after deducting its administrative costs.
According to the reports, around 2,800 IPRS members will finally get paid for their songs- termed as ‘synchronisation royalty’ by Phonographic Performance Ltd (PPL).
Actor Rajpal Yadav sentenced to six months jail in recovery suit
They will be paid on the behalf of music companies like Saregama, Sony Music, Tips, Universal Music, Venus and Aditya Music.
Speaking to a leading daily, Javed Akhtar said that he is glad the differences have been sorted and they have reached the understanding with the IPRS members.
They are happy they have reached this place in a good way.
After blockbuster success, Mahesh Babu’s Bharat Ane Nenu now be dubbed in Hindi
The plan is to bury the hatchet and work together.
Javed Akhtar further clarified that this was ‘synchronization royalty’ which means that the members will get paid for their songs of the artiste are used in video, ads or other films. This was not ‘mechanical royalty’ – used for radio and streaming platforms.
From what it has been learned, a sum of Rs. 13 crores has been distributed amongst IPRS members for the last six years.
The members who have less than 10 songs will be given Rs. 10, 000 for their songs.
Legal Trouble: Team Manmarziyan Served Notice By J&K Tourism Board
Those artistes with more than 10 songs will be paid Rs. 53, 000.
While many music companies have come forward to pay their synchronization royally, two of the big companies – T- Series and Yash Raj Films are yet to join Javed Akhtar in this movement. Today, while speaking to media, the lyricist said that they are still in negotiation with the companies. They are meeting them to clarify and reach an understanding.