An important and no less than historic agreement has been signed between the India Music Industry (IMI) and the Indian Singers Rights Association (ISRA) that will enable music labels and singers to settle all claims on royalty payments. .
This announcement was made at a grand press conference , where in Hon Minister of Commerce & Industry Mr Piyush Goyal was tge Chief Guest and many dignitaries attended the event. Founder of Isra Sanjay Tandon , Chairperson Anup Jalota , Singers like Alka Yagnik , Kumar Sanu , Anuradha Paudwal , Shaan. Hari Haran , Pankaj Udhas , Talat Aziz and many Singers and Label Owners were present at the event .
Under this agreement, all registered singers will now be paid royalty for songs they have sung by music labels across the country. The agreement has just ensured that singers old and new, will benefit from royalty payments across the board.
Senior playback singer Shailendra Singh welcomed this agreement and said, “This effort was started by Lata Mangeshkar ji. Fortunately, I was present in the first meeting that took place at Lata ji’s house. We struggled for so many years but today is a historic day. We will get royalty and the music labels are also with us.”
India’s Minister of Commerce and Industry, Piyush Goyal was a key figure in the execution of this agreement and Shailendra extended his gratitude to the BJP leader
Founder of ISRA, Sanjay Tandon commented, “The total annual collection of ISRA was only 3 crores. But today, the figure is way bigger. Initiation takes a lot of effort. We are initiating today. There will be a struggle ahead but we have at least made a start. Today is a historic day. This has been made possible because of Piyush Goyal.”
Speaking about this initiative, Minister Piyush Goyal said, “I don’t think I have done anything big. I have only done my duty for which we were elected. This is your right. When this amendment was made in 2012, I was an MP of the opposition. But Javed Akhtar was there with us in the Rajya Sabha. But in June 2019, when I took charge of the Ministry of Commerce and Industry, I came to know that nothing was done in the seven years. I felt that this is an injustice to those singers who have served the nation with their talent. After watching the morning news, I listen to music. Music is therapeutic. Thanks to the singers of India, we get settled for the day ahead.”
Goyal revealed that he ordered the concerned authorities to find a solution to this issue. He added, “I even called Sanjeev Goenka in Saregama and asked him to take the lead to find a solution. I discussed this with Bhushan Kumar of T-Series. Bhushan said that when singers do big events and shows, we should also get a share of their earnings because we have invested in popularizing those songs. In a way, it was not totally without merit.”
Watch video here :
During the event to announce this landmark initiative, Goyal revealed that the PPL (Phonographic Performance Limited, an organisation that collects and disseminates royalty for music individuals and organisations)
As per the new agreement, 25 percent of PPL’s collections will now be shared with Indian singers who are part of the ISRA. Goyal further stated, “It has been decided that in the first year, you will receive a minimum of 50 crores guaranteed. After that for four years, it will increase by 5 percent till it reaches 60 crores. After it reaches 60 crores, the higher figure will be considered between 60 crores or 25 percent of what PPL collects. I thought that was a fair deal.”
Filmyfilmindia 
Leave a comment