4000 Author-Composer Members of Music Copyright Society IPRS receives Covid Relief fund
As uncertainties and financial hardships emanating from the pandemic continue, The Indian Performing Right Society Limited pays another round of the Covid Relief fund to its author-composer Members
cityairnews
Feb 4, 2022 04:51
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New Delhi, February 4, 2022: As uncertainties and financial hardships emanating from the pandemic continue, The Indian Performing Right Society Limited pays another round of the Covid Relief fund to its author-composer Members.
Since the pandemic began, IPRS kept supporting its author-composer members facing urgent financial trouble with Emergency Relief Fund amounting to around Rs. 9 Cr. The latest tranche paid in January 2022 counted nearly four thousand author-composer members, with Rs. 10,000/- paid to each of them.
While the industry is still struggling to emerge from the aftermath of the pandemic, IPRS continues its efforts to bring respite for its members. As a copyright society and a representative body of authors, composers, and publishers of music IPRS is ensuring that music creators and publishers get paid for their rightful dues, distributing frequent royalties to sail through the difficult times. The society has distributed royalty amounting to nearly Rs.170+ crores to its members, out of which around Rs 100 crores were paid to author-composer members in the past ten months, from April’21 to January’22 compared to 184 crores for the Financial Year 2020-2021.
Commenting on this, Rakesh Nigam, CEO of the IPRS added, “In this time of adversity, uncertainty, and financial loss, IPRS proved to be a reservoir of strength, fortitude, and succour. The ongoing catastrophe over two years has proven, perhaps better than ever, the strength inherent in our community and the power of this system to be a support mechanism in the worst of times.”
