ISRA (Indian Singers Rights Association) and the Indian Music Industry have reached a Historic and Landmark Agreement which has enabled Singers and various Music Labels to settle all claims on royalty payments due to Singers. This Agreement, which brought an end to litigation which had been ongoing between the Singers and Music Labels since 2016, was an Industry-wide settlement entered in November, 2022. It was formally announced on the 23rd of April, 2023 at a Press Conference in Mumbai.
The event was attended by Mr. Piyush Goyal, the Minister of Commerce and Industry, Mr. Anup Jalota, the Chairman of ISRA, Mr. Sanjay Tandon, the Founder, Director and CEO of ISRA, Mr. Blaise Fernandes, President of IMI and prominent singers like Udit Narayan, Kumar Sanu, Shaan and Alka Yagnik.
Under this Historic Agreement, all Singers registered with ISRA (which is in the process of being re-christened as ISAMRA – Indian Singers And Musicians Rights Association) will now be paid royalty for songs they have sung, by Music Labels across the country. This agreement covers all Record labels, Singers and session Musicians across India and is thus expected to help the music market grow in a manner which benefits all stakeholders across the music eco-system in India.
Under the Agreement, which came about under the guidance and blessings of Hon'ble Minister Piyush Goyal, ISRA is guaranteed a payment of a minimum of INR 50 Crores in the first year of the Agreement. This amount is to increase by 5% annually over the next 4 years and from the 5th year onward ISRA is to receive INR 60 Crores or 25% of what PPL (Phonographic Performance Limited – a collecting society which governs the public performance rights of almost all music labels in the country) collects. This Agreement, though signed in October 2022, was only announced now as Minister Goyal, in his own words, "wanted to see it operationalise" first.
Anand and Anand advised ISRA on this Agreement and congratulates ISRA and Mr. Sanjay Tandon on this hugely significant win for Singers and Performers in India.
The deal received massive coverage and featured on The Times of India, Zee and Musically.com
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