~The deal promotes fair trade music and aims to benefit the original creators~
India, 12th October 2020 – On the outset of October 2020, recognized as a Fair-Trade Month, The Indian Performing Right Society Limited (IPRS) celebrates its collaboration with Hungama Music, one of the leading music streaming services in the country, making it the first major licensing deal with an Indian music streaming platform. The partnership endorses fair trade music for transparent and ethical value chain for authors, composers, and all music rights holders. This licensing deal aims at helping original creators of music earn fair remuneration for their work with the well-deserved royalties.
Over the past few years, streaming has emerged as the single primary contributor to the overall growth of music consumption. According to the Deloitte report, currently, the audio and video OTT market in India is valued at around US$ 280 million, with the evolving audio OTT market providing nearly 150 million monthly active users access to millions of soundtracks across platforms.
Mr. Rakesh Nigam, CEO of IPRS commented, “We are happy and excited to sign the agreement with Hungama Music having 87 million monthly users across the Hungama network. With the growing consumption of audio in the OTT market, it is imperative to create an equal trade system where the streaming platforms respect and pay music creators for their work. It is only fair that the money paid by their subscribers should also go to the original creators of the melody. Paying back the creators shows respect for their creative work and help them have fair remuneration for the efforts put in. With the licensing deal with Hungama Music, we can do so. Participation in this movement, from other players in the music streaming industry, will help us stop the unfair treatment to the music creators happening for many years now. These will also encourage young talents to choose Music as their career option.”
“Fair Trade is about supporting, acknowledging, and celebrating businesses that seek to create an equal trade system through respect and transparency. We aim to raise awareness on the reasons why fair trade of music is important, and how it will help the original creators. At IPRS, we protect the rights of authors and composers and their composition, which makes us a willing seller only when streaming platforms show interest as a willing buyer. This will not only help, the disadvantaged creators of music but also the music community at large.” added Mr. Nigam.
Speaking about the association Siddhartha Roy, COO, Hungama Digital Media said, “We are glad to work with IPRS, a registered Copyright Society representing the music industry. We hope that this association serves as a step towards ushering in a positive change in the industry.”
Supporters of fair trade music trust all who populate the music landscape, from creators to consumers, and all those in-between embracing simple, ethical practices that ensure all parties in the music value chain, including songwriters, composers are compensated for the use of their work. Fair-trade music would give consumers a clear choice in the music value chain by clearly indicating which digital streaming and other music services operate in a fair, transparent, and ethical way.
IPRS recently also addressed the concern regarding music platforms and apps not crediting the lyricist through their campaign #CreditTheCreator. IPRS has been vocal on the same and aims to build a strong proposition for acknowledging the authors and composers of music who spend their lifetime in creating their masterpieces.
IPRS is India’s only Copyright Society registered under the Copyright Act, 1957 representing the authors, composers and publishers of music. It counts more than 5,500 of India’s best-known authors, composers, and music publishers as its members. IPRS is authorized under the Copyright Act, 1957 to carry on the business of issuing and granting of licenses in respect of musical works and literary works associated with musical works assigned to it by its members. These revenues are collected and distributed to its members including the authors’ statutory royalties after deducting its administrative expenses for the exploitation of the works either by way of live performances and/or sound recordings through any medium except when exhibited as a part of a cinematograph film shown in a cinema hall.
About Hungama Music
Owned by Hungama Digital Media Entertainment Pvt. Ltd., Hungama Music is one of the leading music streaming apps in the country. Since its launch, Hungama Music has been instrumental in shaping music consumption habits in India, as well as, crafting an enriching experience for music lovers globally. Its multi-genre and freemium library of more than 15 million songs and music videos entertains listeners in 20+ Indian and international languages. This is in addition to its bouquet of original content, online radio channels and curated playlists. Guided by its parent company’s philosophy of simplifying digital content consumption, Hungama Music has led the way in making music streaming a wholesome experience. It was the first in the region to integrate music videos within its music streaming service, as well as, the first to provide a unique rewards program allowing users to earn points as they go and redeeming these for a premium subscription. Hungama Music has created multiple customer touchpoints and is available across platforms and ecosystems. This includes smart devices, AI-enabled assistants like Alexa, web and apps on Google Playstore, Apple Store and Huawei AppGallery. Hungama’s strategic association with Xiaomi also enables the largest smartphone community in India to enjoy Hungama Music on Mi Music.