Javed Akhtar's IPRS company distributes Rs. 13cr royalty to members
What's the story
Veteran film writer and lyricist Javed Akhtar, who is the Chairman of the Indian Performing Rights Society (IPRS), today distributed Rs. 13cr among its members as part of the royalty given by music companies.
The Akhtar-headed 48-year-old copyright royalty collection body is an officially registered copyright society for musical works and associated literary works in India.
Here are more details.
Synchronization royalty
PPL will pay synchronization royalty to 2800 members
As many as 2,800 members of IPRS will be paid "synchronization royalty" by Phonographic Performance Ltd (PPL) on behalf of music companies like Saregama, Sony Music, Tips, Universal Music, Venus, and Aditya Music.
"I'm glad this has happened... It's not as if this is the end. People with whom we had differences of opinion, we have now reached an understanding with them," Akhtar said.
Not a victory
It would be unfair to call this as victory: Akhtar
The 73-year-old writer has long been championing the cause of getting royalties for writers and music composers but said it would be unfair to call today's event a "victory".
"We have reached an understanding and found ways to work in a harmonious manner. What is important is to respect the understanding and bury the hatchet because we all work together," Javed Akhtar said.
Information
It's not a mechanical royalty, says Javed Akhtar
Akhtar stressed this was not mechanical royalty which is used for radio and streaming platforms but "synchronization royalty" that comes into play when film songs of an artiste are used in ads, videos, or other films.
Total sum
Company has given Rs. 13cr for the last six years
The writer said music companies have given a collective sum of Rs. 13cr for the last six years.
Members who have less than 10 songs will be given Rs. 10,000, while those with more than 10 songs will be paid Rs. 53,000.
Though several companies have come forward and paid royalties, T-Series and Yash Raj Films are yet to join the movement.
No bitterness
I'm in negotiation with T-Series and Yash Raj Films: Akhtar
Akhtar, however, said there is no "bitterness" and he is in talks with both the companies.
"We are in negotiation with them. My association with YRF has been very old. I've been working with Yash ji when (his sons) Aditya and Uday were in pram. My first song was written for Yash ji. They are nice, polite, educated people," he said.