Category: Uncategorised

Reservoir Generated $16.7m in Calendar Q2 – and Paid Out $6m in Songwriter Royalties and Publishing Costs

New York-headquartered Reservoir Media has this week confirmed its latest fiscal results, revealing that its total revenues in the year to end of March 2021 stood at $81.1 million – up 28% year-on-year. In calendar Q2 (the three months to end of June), Reservoir generated $16.7 million, up 23% year-on-year. Source: https://www.musicbusinessworldwide.com/reservoir-generated-16-7m-in-calendar-q2-and-paid-out-6m-in-songwriter-royalties-and-publishing-costs/

Universal Music Group signs global deal with Indian superstar Badshah

Universal Music Group (UMG) has announced an exclusive global agreement with Indian music artist and entrepreneur Badshah. The multi-year deal will see Badshah partner exclusively with UMG across all elements of his career, including future recordings, music publishing rights for non-film compositions, brand licensing and partnerships. To read more click here: https://www.musicweek.com/labels/read/universal-music-group-signs-global-deal-with-indian-superstar-badshah/083832

Back to growth

This article was published on: 29th January 2021 Article Link: https://www.investindia.gov.in/team-india-blogs/back-growth-interview-blaise-fernandes-ceo-and-president-indian-music-industry-imi

PRESS RELEASE- IMI-IFPI-FICCI Digital Piracy Seminar

New Delhi, November 22, 2019: The Indian Music Industry (IMI), in association with the International Federation of the Phonographic Industry (IFPI) and Federation of Indian Chambers of Commerce & Industry (FICCI), organised a seminar on Digital Piracy yesterday on November 21, 2019. The objective of the seminar was to discuss pertinent issues relating to digital piracy including intermediary liabilities and preventive measures to effectively tackle digital piracy. The Keynote addresses were given by Mr. Narendra Sabharwal, Chair, FICCI IPR Committee and Former Deputy Director General, WIPO, and Mr. Lauri Rechardt, Chief Legal Officer, IFPI. Dr. David Price, Director of Consumer Insight and Analysis, IFPI, presented on the Music Listening and Piracy habits of consumers in India, in comparison to global trends. Ms. Jenny Wong, Asia Regional Director, IFPI discussed China’s “Sword Net Action” measures to deal with digital piracy and the implementation of similar administrative website-blocking measures in India. The first panel discussion on “Preventive Measures Now and Going Forward: The Best Possible Scenario” saw participation from different stakeholders in the music industry in India including Mr. Amarjit Singh Batra, Managing Director, Spotify India; Ms. Oindrila Maitra, Director (Legal and Business Affairs), Jio Saavn; Mr. David Price, Director, Consumer – Director of Insight and Analysis; Mr. Sanjay Tandon, CEO, ISRA; and Mr. Raju Singh, Board Member, Music Composers’ Association and IPRS. Moderated by Mr. Vipul Maheshwari, Co-Chair, FICCI IPR Committee, the key preventive measures identified by the panellists to prevent digital piracy included legislative frameworks that introduce stringent penalties and enforcement guidelines that discourage users from engaging with pirated sources to access music, educating users about the already available free music streaming channels, which also offer personalized user experience, as an alternate to pirated means of consuming music. The panellists concluded by emphasising on the need for collective effort from all stakeholders in the music industry to fight against digital piracy. Read full report here