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  Entertainment   Bollywood  25 Apr 2018  Composers, lyricists share Rs 13 crore bonanza

Composers, lyricists share Rs 13 crore bonanza

AGENCIES
Published : Apr 25, 2018, 12:12 am IST
Updated : Apr 25, 2018, 12:12 am IST

In a historic move, the Indian Performing Rights Society (IPRS) distributed royalty of around Rs 13 crore among music composers and lyricists.

Javed Akhtar
 Javed Akhtar

In a historic move, the Indian Performing Rights Society (IPRS) distributed royalty of around Rs 13 crore among music composers and lyricists. Javed Akhtar, chairman of IPRS, distributed the money received for TV synchronisation among all members who are authors and composers.

Saregama, Sony Music, Tips, Universal Music, Venus and Aditya Music have agreed to pay royalties, while others have still not agreed despite the law saying so.

Raju Singh, Sudhakar Sharma, Shravan Rathod, Harmeet, A. M. Turaaz, Prashant Ingole, Jatin Pandit, Sanjeev Darshan, Dilip Sen-Sameer Sen, Ashish Rego, Shibani Kashyap and many more were seen at the event.

“Rs 10,000 was distributed to authors with 10 or less than 10 pieces of work registered with the IPRS and the balance royalty was distributed equally to the remaining authors / composers, which worked out to Rs 53,000 each. This is called synchronisation royalty, which is only if your songs have been used in other films or ads or TV,” says Javed.

“The laws have changed and people have changed. People need to be paid and the system needs to be corrected.  Now, every three months, composers, writers and publishers will get their royalties. Some music companies have come and paid us Rs 13 crore as a lump sum accrued over the past six years and we have distributed it. Hopefully, other big music companies will also join in,” says the lyricist.                       

— Sanskriti Media

Tags: indian performing rights society (iprs), javed akhtar