NBC spend N.dollars 1.8 million in artists royalties

WINDHOEK: The Namibia Broadcasting Corporation (NBC) has, through the Namibian Society of Composer and Authors of Music (NASACAM), spend an amount of N.dollars 1.8 million towards artist as royalties.

NASCAM Chief Executive Officer, John Max, in an interview with a Nampa on Friday, revealed that the local broadcaster have paid their royalties to artists through NASCAM for the 2013/2014 calendar year.

The royalty funds are divided into three parts; 60 percent is paid to the artists, 30 percent go towards administration at NASCAM and 10% goes to a benefit trust for the society’s members.

He said that 95 per cent of the members have received their monies in terms of royalties, as the payment process started on the 23 December 2014 and is expected to be completed by end of January 2015.

Max said the number of members stands at over 5000, both local and international artist, authors and producers who benefit from the royalties.

SOURCE: NAMPA