Nearly BGN 3.7 million have actually been paid over the last 15 months, 24 popular names from all genres of Bulgarian music became members of the organization at the General Assembly held on April 27
Over BGN 4.5 million in revenue for rights holders – artists-performers and recording producers is expected in our country from the use of music in 2011, according to PROFON’s financial plan for 2011, adopted by the organization’s general assembly on April 27, 2011 d. The expectations are for a growth of 20-25% of the revenues from the so-called public performance of music in commercial and tourist sites, which will be a function of PROFON’s efforts to accelerate penetration into an as yet undeveloped market for the consumption of protected content. The Bulgarian Society for the Collective Management of Related Rights in Music generates remuneration for rights holders by licensing the use of sound recordings and video recordings by radio and television operators, internet media, tourist and commercial establishments (restaurants, hotels, gyms, shops and etc.), cable, satellite and digital operators, as well as from the use of Bulgarian music from the PROFON catalog abroad.
At the organization’s general meeting, it became clear that over the past 15 months, PROFON has recorded record levels of distribution and payment of these funds – over BGN 5.5 million were distributed to rights holders, and nearly BGN 3.7 million were actually paid to artists and producers remuneration as the payout continues.
For the second year, the organization voluntarily orders an independent audit of its financial and accounting activities, with the aim of complete transparency and strict control over the amounts collected, distributed and paid to the right holders. The report for 2010, which is publicly available on the organization’s website (www.prophon.org), shows compliance of PROPHON’s activities with good practices and all legal provisions.
In the last year, the catalog that the company represents has also grown significantly. This is due both to the entry of a new membership of Bulgarian producers and performers, and to the serious increase in the number of mutual representation agreements with collective management organizations from around the world. Currently, the association represents the sound and video recordings of all the world giants of the recording industry, as well as the repertoire of over 25 thousand independent music companies. PROFON also unites the rights of hundreds of thousands of artists-performers. The number of members of the society is now 150, after 24 new artists-performers and music producers were accepted at the general meeting, among whom the violinist Veselin Eshkenazi, Galina Kurdova (Galia from the former duet Karisma), folk singer Ivan Dyakov, Vladimir Totev make an impression from “Crickets”, pianist Lyudmil Angelov, rapper Christian Talev-Krisko, popular singers Poli Genova, Alexandra Zhekova, Orlin Pavlov, Orlin Goranov, the chief conductor of the Ensemble “Filip Kutev” Georgi Andreev, guitarist Georgi Yanev, the production companies 2AM, “Nova Film” Ltd., “Bon-Bon Music” Ltd., etc.
It also became clear at the General Assembly that PROFON has been invited to become an associate member of the Societies’ Council for the Collective Management of Performers’ Rights (SCAPR) – the most prestigious international organization uniting performing artists.
One hour before the General Assembly of PROFON, a framework agreement was officially signed in the same hall between the organization of artists-performers and music producers and the Association of Bulgarian Radio and Television Broadcasters (ABRO). The document regulates the manner in which the radio stations that are members of ABRO will pay PROFON for the use of music in 2009 and 2010. The official signing was attended by the Deputy Minister of Culture, Dr. Todor Chobanov, the Chairman of SEM Assoc. Georgi Lozanov, the US ambassador to our country, James Warlick, and the chairperson of the Culture, Civil Society and Media Committee of the 41st National Assembly, Ms. Daniela Petrova, sent a congratulatory letter.
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