The Kenya Copyright Board (KECOBO) has revealed plans to provide loans for content creators while announcing millions collected from musicians through royalties.
KECOBO in a statement on Thursday, June 4, 2024, announced an increase of daily collections from royalties which it attributed to increased music listeners.
According to the Board, the collection of royalties from music users has increased to a total collection of Ksh2.2 million on a daily basis.
“The Board of Directors of The Kenya Copyright Board wishes to thank the music users for their support to the creatives by paying royalties as per the license issued by the Board in June.
The Board notes that following the issuance of a Collective Management Organization license to Performing and Audio-Visual Rights Society of Kenya (PAVRISK), collection of royalties from music users has increased from a daily collection of Ksh600,000 to Ksh2.2 million daily,” read part of the statement.
According to the Copyright Board, a total amount of Ksh22 million had been collected as of June 18, which was 10 days after the issuance of the licence.
KECOBO noted that this was an improvement from the collections that was being done previously by the three CMOS jointly.
“The daily collection is expected to rise to Sh3million daily with introduction of an enhanced system and support from music users.
The Board encourages transparency in the collection and distribution of royalties by the CMO to help cut on costs and increase royalty distribution to artists to at least 70 percent of the collection,” the statement adds.
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KECOBO on SACCO for Content Creators
At the same time, the Copyright Board revealed plans by the government to create a Sacco that will issue loans to creatives.
KECOBO, according to the statement, is in talks with the Ministry of Cooperatives to create the proposed Sacco.
Content creators will be able to acquire loans at a lower rate, if the plan hatched by the Board goes through.
“The Board is in the process of engaging the Ministry of Cooperatives and Micro/ Small and Medium Enterprises Development to establish artists and creatives savings cooperative society (SACCO) that will give artists an opportunity to borrow at a lower rate,” said KECOBO.
Further, the Copyright Board said that it will work with county governments for the establishment of recording studios in every county where artists and content creators will record for free.
This comes as the government continues to affirm its commitment to change the fortunes of the country’s creative industry.
President William Ruto in June affirmed the commitment saying that a going forward, creatives should know that his government takes them serious as a key cog of the economy.
Ruto spoke when he hosted creatives and finalists of the drama and film festival for a state concert.
Also Read: Tyler Perry Apologizes After Missing Ruto’s Visit, Gives Reason for His Absence
Creative Industry in Kenya
The President said as he promised, his government will give new inspiration to the space around sports, youths, creatives and the whole industry around art.
However, some moves taken by the government have been met by widespread opposition from the industry players.
The Kenya Films Commission Board (KFCB) in May was forced to withdraw all notices sent to Kenyan Content Creators who share content on video streaming platform YouTube.
In a statement on Friday, May 24 KFCB Chairperson Njogu wa Njoroge announced the withdrawal of the notice that required content creators to acquire licenses.
The board had sent notices to individuals who are run YouTube Channels and share content on through the video streaming platform.
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