TVB and HKRIA finally settles the two year royalty disputes and comes to an agreement. According to [Mingpao]'s reliable news, yesterday TVB and HKRIA signed the agreement memorandum. The two year dispute ends right before the TVB anniversary celebrations start, which is indeed very good news. Both sides maintains the friendly relations and kicks off a new start in their relationship. Today, the first step launches from having the singers under the Big 5 record companies begin their promotions back on TVB. HKRIA members includes Hong Kong Big 5 record companies -- Universal, Warner, SONY, EMI and BMA (new member of 2010). Yesterday it was officially announced that HKRIA signed the agreement with TVB and successfully patches up the old relationship. The dispute dates back in December of 2009 when HKRIA raised the royalty tax on TVB to nearly HK$10 million for their music programs. Since then the relationship turned bitter, both sides were unwilling to give in and thus leading to TVB's ban on the singers under Big 5, prohibiting them to appear on their station.
According to the source, during the negotiations, TVB insisted to keep their policies for the singers the same. The restrictions on contracted singers remains intact, that is they are not allowed to appear on other TV stations. Previously, it was rumored TVB gave in and agreed to let singers go on other TV stations, but according to the source, it is vital for TVB to keep the same policies they have for the singers. The contracted singers will just have to respect the agreement. Singers who are under a TVB contract will have priority in their television programs. It was said HKRIA proposed that the royalty tax can be negotiated, therefore the two sides are able to 'shake hands'. Indeed, a happy ending.
Source: Mingpao
Translated by: aZnangel @ AsianEU Forum
