C2W Music, which has earned virtually no income since it raised funds in an IPO in 2012 is reporting what appears to be a breakthrough in the last quarter of 2013 with royalty collections.
According to the company in a recent release to the stock exchange, “We are proud to announce that during the 4th quarter of 2013, we have started to see royalty driven earnings deriving out of Barbados. These earnings have come out of the exploitation of copyrights and more specifically have been earned through the “Performing Right” collections of radio broadcast. The amount received thus far totalled USD$20,643.”
“We would also like to add, and as mentioned in a previous press release, that we continue to work closely with all Caribbean performing rights societies in creating proper integration of our systems to show an accurate collection of our royalties from the territory. Other than our own music catalogue, we sub-publish two of the world’s largest music publishers, BMG Chrysalis and Warner Chappell. We are hopeful that our collective efforts would be recognized by the 2nd quarter of 2014 and onwards, resulting in more royalty collections,” a release from the company said.
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