IPRS Tops INR 3000 Million Income For The First Time. (uniquement en anglais)
The Financial Year 21-22 has been a watershed year in the history of the IPRS with its earnings recording a growth of around 85% from INR 1698 Million (USD 23 Million) in FY 20-21 to INR 3100+ Million (USD 41+ Million) in FY 21-22. Streaming/OTT platforms have contributed 80% to the total income of FY 21-22. Significantly this is the fourth year in a row where the society's collections have witnessed significant growth.
It was also the year that saw the Royalty pay outs break the INR 2000 Million (USD 27 Million) mark as they bested INR 2100 Million (USD 28 Million) compared to previous year INR 1833 (USD 25 Million).
The society distributed royalties to the members practically every month amplifying the frequency of royalty distribution as compared to the previous years. Distributions were executed across all sources of income. These included General Public performance, Television Broadcast (inclusive of International music), Streaming (including current year collections), Authors Share of Synchronisation and Overseas society collections.
IPRS also provided relief during the Financial Year 21-22 in the form of aid amounting to INR 62 Million to around 3900 author members to soften the impact of the loss of income caused due to the Covid pandemic.