Bulgaria’s Musicautor Boosts Copyright Revenue to All-time HighCulture | February 22, 2016, Monday // 19:20| views
Bulgarian music copyright management organization Musicautor has collected the highest annual revenue in its history, BGN 7.5 M (EUR 3.8), in 2015.
The figure is 49% higher than the revenue collected in the previous year, the non-profit association of composers, lyricists and music publishers said in a statement published on its website.
Musicautor CEO Ivan Dimitrov has attributed the increase to investment made in human resources and up-to-date technological solutions, according to the statement.
The biggest increase in revenue was recorded last year in the sector of retransmission (1055%) as a result of the contracts which Musicautor had concluded with Bulgaria’s bTV and Nova TV media groups. High remuneration for authors was also collected from the sectors of TV licensing and digital rights.
The association’s 2015 report shows that a big part of hotel and restaurant owners in Bulgaria still pay no fees for music copyright. Therefore, Musicautor will focus its efforts on increasing the collection rate of copyright fees in the hotel and restaurant industry in 2016.
In 2015, Musicautor and Prophon, a non-profit organization for collective management of related music rights, signed an agreement with the Bulgarian Hotel and Restaurant Association which backed proposed legal amendments related to copyright protection. The organisations also jointly called on the Ministry of Culture to increase its control over safeguarding authors’ rights.
Founded in 1993, Musicautor currently represents 2,700 Bulgarian composers, lyricists and music publishers by managing their copyright both in Bulgaria and abroad. Musicautor is a member of the International Confederation of Authors and Composers Societies (CISAC) and the French International Organisation Representing Mechanical Rights Societies (BIEM).
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