COTT collects $7.7m in royalties in 2003

THE Copyright Organisation of Trinidad and Tobago (COTT) yesterday announced that unaudited figures showed that it had collected some $7.7 million in royalties for the year 2003. This represents a substantial increase over collections over the same period for the previous year, when just over $5 million was collected, said Chief Executive Officer, Allison Demas. She was at the time speaking at the organisation’s members’ meeting at the Chancellor Hotel, St Ann’s. She also announced that COTT had reduced its expense income ratio from 41 percent to approximately 32 percent. “And we are committed to a further decrease in expense income ratio to have more royalties for distribution,” she added.

Demas said the organisation’s executive had agreed to develop a business plan for the three-year period 2004-2006, with the theme, “Maximising member and customer value.” She said the rationale for the theme grew from the fact that COTT’s main assets were its membership and their works, so the organisation must ensure  quality for its members. The CEO appealed to members to ensure that steps are taken so they can get accurate royalty distribution. Providing an example, Demas said just over a week ago, she signed a cheque for more than $25,000 with respect to Carnival 2003 and this was because the member had not registered his work. She called on all members to register their works promptly, preferably as soon as the song is composed and not before it is released commercially. “This,” she said, “will enable COTT to determine how much royalties are due to the artistes.” She said this was also with respect to artistes who are both singers as well as composers. Demas said artistes could help COTT provide royalties if they completed a play list of all the songs which they have performed publicly.