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Music directors, lyricists and music companies will be able to earn revenues by posting their videos on YouTube.
The Indian Performing Right Society (IPRS) has firmed up a licensing agreement with YouTube that will allow song writers, music composers and music publishers to earn revenues through YouTube.
Members
IPRS has 2,233 members, including K Sera Sera Productions Ltd, Emkay Productions, Eros Music Publishing Pvt Ltd, and individuals such as Farhan Javed Akhtar, Javed Akhtar and Pankaj Udhas, according to the IPRS Web site.
As the Internet is attracting more users, companies and individuals in the music industry are also looking to tap revenue streams from the medium.
“As more users get online, consumption and monetisation of music will increasingly happen on the Internet and YouTube will drive it,” said Mr Rakesh Nigam, Chief Executive Officer, IPRS.
This is YouTube's first collection society deal in the country. YouTube generates revenue from advertisements on its page. Members of IPRS who are composers, authors and publishers will get a share of the revenue through the society for their works accessed on YouTube.
“Showcasing creative content is now easy because of partnership programmes but the question is can you make the video viral, will it be shared and reshared on social media sites, embedded on blog sites, are people going to be talking about it … Only then can you monetise it well,” said Mr Adhvith Dhuddu of Alive Now, a social media management firm.
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