Home Economy Zimbabwe: ZBC to pay $600k in royalties to local artistes

Zimbabwe: ZBC to pay $600k in royalties to local artistes

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The Zimbabwe Broadcasting Corporation (ZBC) owes the local artistes over $600, 000 in outstanding royalties but intends not only to pay this amount but also continue paying the future royalties on time.

This was confirmed by Information, Publicity and Broadcasting Services Minister Monica Mutsvangwa in her speech at the launch of the Arts, Culture and Heritage Policy in Bulawayo at the weekend.

“I must say issues were raised pretty well, issues of royalty collecting and local content. ZBC owes a total of $600 000 as at 31 October 2019. That is for music royalties for our artistes, the royalties are calculated as a percentage of the corporation’s total advertising revenue,” she explained. “The debt emanated from the accumulation of royalties due to ZBC’s liquidity challenges over the years, but thanks to the Minister of Finance (and Economic Development Professor Mthuli Ncube), we are actually starting with the 2020 budget, we have been given an opportunity of a grant. That will then allow ZBC to pay what is outstanding debt, and not just to pay what is outstanding, but to pay starting from here going forward.”

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