Bulgaria's PROPHON Reports BGN 5.4 M Revenues

Business | April 11, 2014, Friday // 15:09| Views: | Comments: 0
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Bulgaria: Bulgaria's PROPHON Reports BGN 5.4 M Revenues File photo.

Bulgaria's organization for collective management of music rights PROPHON reported proceeds of BGN 5.4 M for 2013. 

The organization manages the rights of nearly 90% of Bulgarian and global music industry and collects and redistributes the proceeds from public performances, media and retransmission of music in Bulgaria to right holders. 

In its annual report PROPHON boasts 99% success in collection of proceeds from radio and public performances, 98% in television and 90% in the internet. 

The proceeds from media for 2013 was BGN 3.4 M, but there is a drop in proceeds from public performances. In 2013 they were BGN 1 M, while in the preceding year they were BGN 1.2 M. 

According to PROPHON this was mainly due to lesser control and the presence of dubious companies in the promoter business.

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