Music 2010 to 2012 : PlayRight has distributed the financial benefits
In 2016, PlayRight distributed record 17 million euros to close music rights for the reference years 2010, 2011 and 2012. Now that these reference years have been distributed, PlayRight is able to pay out the financial benefits related to these rights.
Between the moment of collection and the time of distribution, your rights are held in an account where they accrue financial benefits.
The total amount of this distribution comes to € 2.674.560,31. 51.979 performers receive financial benefits generated by their music rights (for the reference years 2010 to 2012), including 5.800 PlayRight members (11%). 47% of the total amount was transferred to international sister societies that claimed the rights for their affiliated members. 53% of these financial benefits was distributed directly to affiliated performers.
How were these financial benefits calculated?
To calculate this sort of distribution, PlayRight relies on the amounts of the rights attributed for the reference years concerned, calculating on a pro rata basis the financial income to which they correspond. As this distribution consists of dividing the financial benefits generated by your rights, the total amount of this distribution, of 2.674.560,31 euros, is less compared with a distribution of music rights. As a result, the amount attributed to you is proportional. Please note that a withholding tax has to be transferred to the Belgian State for these financial benefits. PlayRight has, therefore, deducted a withholding tax of 30% as stipulated by law: this deduction is the negative amount shown in the table that lists the details of your rights. PlayRight has paid this amount directly to the Belgian state.
Why is the amount of my financial benefits much less than in previous years?
In 2016, PlayRight definitively put behind the arrears of the past for music rights and is now able to distribute rights, for a single reference year, three years after the reference period has passed. Today, these rights generate less interest because they remain in our accounts for less time than in the past. This in turn affects the amounts of financial benefits that PlayRight distributes. You can find more information about financial benefits here.
The next distribution will be made at the end of August, according to the distribution calendar. PlayRight will distribute the rights that we received from abroad.
Offices are closed this Friday
Our offices are closed this Friday, July 21th. PlayRight team will be back on Monday