PROFON distributed 5.5 million in royalties during 2010
PROFON, an organization for collective management of related rights in the area of music, has distributed during 2010, 5.5 million BGN in royalties to entertainers and musical producers, with regard to use of their works by the business. In view of that, it may be concluded that the music industry in Bulgaria has received over € 5.5 million Euro in royalties from related rights for the last year.
PROFON generates royalties to owners of intellectual property rights, by licensing the distribution of a large number of music works in public sphere, as well as their commercial use.
Apart from the diverse list of Bulgarian music works, PROFON licenses the public use of more than 95% of the music, produced by foreign entities, by representing four of the leading music companies – Sony Music Entertainment, Universal Music, Group EMI and Warner Music Group, as well as over 15 000 independent companies all over the world.
