Highlights from the CISAC Global Report.
The authoritative head that oversees music copyright societies around the world, CISAC, recently released their annual global report. The report summarises the progress made after the global pandemic that universally brought everything to a halt. CISAC is a Paris based international confederation of Societies which oversees music copyright societies in 119 countries representing more than 4 million creators.
Emphasising on the growth of each sector CISAC, with the report, paints a global setting surrounding revenues and the growth which seems to be promising in each and every section. The report further bifurcates the findings based on the geographical progress made by the societies in their respective areas. For example, IPRS was ranked as the 5th largest society by revenues in the Asia- Pacific region. A milestone which represents the work that IPRS continuously promises to its members. On a contrary note the report even highlights the magnitude of the pandemic on a global scale. The after effects of the pandemic simply reiterate the need for a copyright society in order to achieve a sustainable music industry.
To conclude the report Mr Björn Ulvaeu, president of CISAC, was impressed with the progress in digital royalties being collected by the CISAC societies. With another side of his coin still focused on the commitment towards ensuring a fair environment to earn a living. He even highlighted the need for a much more transparent way of data collection in order to make sure not a single royalty collected is lost in the process while distributing it.