| 22 Feb 2024
IPRS and LyricFind partnership will increase revenue opportunities for artists

MUMBAI: The Indian Performing Right Society Limited (IPRS) partners with LyricFind, a trusted source for lyric licensing and data solutions.

Rakesh Nigam, CEO IPRS

Radioandmusic got in touch with Rakesh Nigam to know more about the partnership with LyricFind.

Check the interview below:

Can you provide an overview of the partnership between IPRS and LyricFind?

The partnership between IPRS and LyricFind will ensure that all IPRS creator and publisher members who have mandated the right to IPRS are accounted and paid for the display of their lyrics across all of the over 100 digital platforms and clients of LyricFind. Thus enhancing lyric availability and compliance for online music services. This partnership will provide all author, composer, and publisher members an exciting opportunity to expand their global reach, boosting both direct and ancillary revenues while enhancing the value of their catalogues. IPRS appreciates the global market of digital lyric and language conversion that LyricFind established with creators, publishers, and platform partners. This agreement will not only facilitate lyric distribution but will also enable effective lyric conversion, interpretation, and translation on a global scale through LyricFind.

How will this benefit IPRS members and the music industry as a whole?

The partnership between IPRS and LyricFind will benefit both IPRS members and the music industry as a whole by increasing revenue opportunities through the licensing of lyrics to digital platforms, ensuring proper attribution and compensation for songwriters and publishers, and enhancing the overall user experience for music listeners with accurate and accessible lyrics. This collaboration promotes transparency and fairness in lyric licensing and distribution, ultimately supporting the sustainability of the music industry.

What driving factors led to the decision to collaborate with Lyric Find?

The decision to collaborate with LyricFind was driven by the need to expand the reach and accessibility of the lyrics of our songs, ensuring that they are available on digital music platforms worldwide. This partnership allows us to efficiently license and distribute lyrics while enhancing revenue opportunities for our members. LyricFind's expertise and global reach in the lyric licensing space make them a valuable partner to help us achieve these objectives. This collaboration promises to benefit all our members by fostering fan engagement, increasing consumption, and driving growth.

What are the international implications of this collaboration, given that LyricFind is a global player in the lyrics licensing space? How will it affect IPRS's reach beyond India?

IPRS’s partnership with LyricFind has significant international implications as it extends IPRS's reach beyond India. LyricFind's global presence in the lyrics licensing space means that IPRS members' song lyrics will be accessible to a much broader international audience through digital music platforms worldwide. This not only benefits our members by increasing their global exposure but also supports the international recognition and use of Indian music and lyrics. It reinforces our commitment to promoting Indian music on a global scale, fostering cross-cultural collaborations, and expanding the horizons of our music industry beyond India's borders.

What message would you like to convey to IPRS members, songwriters, and music publishers regarding the benefits they can expect from this partnership with Lyric Find?

Our partnership with LyricFind holds several tangible benefits for IPRS members, songwriters, and music publishers. They now stand to gain in the form of:

1. Increased Revenue: Expanded licensing opportunities will result in additional income streams for the lyrics.

2. Global Exposure: Our members’ work will reach a wider international audience, enhancing their recognition and reputation on a global scale.

3. Proper Attribution: Accurate attribution and compensation for our members’ creative contributions will be ensured, promoting fairness and transparency.

4. Enhanced User Experience: Music listeners will have improved access to the lyrics, enhancing their overall music experience.

5. Cross-Cultural Opportunities: This partnership facilitates cross-cultural collaborations, allowing the music from India to transcend borders and cultures.

Our partnership with LyricFind is a significant step forward in maximizing the benefits and opportunities available to our members as part of the IPRS community of music creators and publishers.

With the increasing popularity of music streaming services and lyric-focused apps, how do you see this partnership enhancing the user experience for music enthusiasts while ensuring that creators are fairly compensated?

The IPRS's partnership with LyricFind is poised to significantly enhance the user experience for music enthusiasts while simultaneously ensuring fair compensation for creators in this evolving landscape of music consumption. As the popularity of music streaming services and lyric-focused apps continues to rise, this collaboration is poised to offer several benefits to both the creator and the music lover.

Firstly, it will ensure that users have access to a vast and accurate database of authorized song lyrics across various digital platforms. This will enrich the overall music listening experience, enabling users to engage more deeply with their favorite songs, sing along, and gain a deeper understanding of the song and its lyrics.

Moreover, this partnership promotes legal and ethical access to lyrics, reinforcing the importance of compensating creators for their artistic contributions. By properly licensing and attributing lyrics, it supports the livelihoods of songwriters and music publishers, ensuring that they receive fair and deserved compensation for their work.

This partnership also extends its impact globally, making lyrics available in multiple languages and to a diverse international audience. This broadens the cultural and musical horizons of users, fostering cross-cultural appreciation and collaboration within the music industry.

IPRS's collaboration with LyricFind is a win-win scenario, where music enthusiasts enjoy an enhanced and ethical music experience, while creators receive fair compensation, further contributing to the vibrancy and sustainability of the music ecosystem.

How will this partnership impact IPRS's role in the Indian music ecosystem?

IPRS's partnership with LyricFind signifies a pivotal step in our growing role within the Indian music ecosystem. It amplifies our commitment to creating more opportunities for music creators and publishers while solidifying IPRS as a robust pillar of the music industry in India.