World recorded music physique IFPI and the United Arab Emirates Ministry of Economic system (MoE) have signed a joint Memorandum of Understanding pledging “to help the persevering with development of the UAE’s recorded music enterprise”.
In line with the IFPI, the “landmark settlement” is “a first-of-its-kind for the area” that outlines a number of methods through which the MoE, IFPI and file firms working within the UAE will collaborate.
This consists of, in accordance with the IFPI, “sharing related info and information; making a copyright framework that aligns with worldwide requirements; and implementing, gathering and defending the rights of file producers”.
The MoU was signed throughout IFPI’s World Major Board assembly in Abu Dhabi, this month.
In line with IFPI’s lately printed World Music Report, recorded music market revenues within the Center East and North Africa (MENA) area grew by 35% in 2021 – the fastest-growing area on the planet.
The figures additionally confirmed that streaming represented some 95.3% of recorded music revenues within the area in 2021.
The MOU follows the announcement by IFPI that regional music charts are being established within the area for the primary time.
His Excellency Abdulaziz Al-Nuaimi, Assistant Undersecretary for Industrial Affairs on the UAE Ministry of Economic system, commented on the MoU, added: “There’s a saying that the longer term has already occurred, unfolding sooner or later at a time.
“We consider the partnership with IFPI and its members shall unfold the music trade future the identical manner, as every day passes.
“Amongst different areas included within the MoU, collective administration is just the start to gas the financial potential of the UAE’s and the area’s inventive financial system.”
“This can be a very thrilling time for the music trade within the UAE and the MoU is a crucial subsequent step to making sure its future development.”
Talking on the signing of the MoU, IFPI Chief Govt, Frances Moore, mentioned: “This can be a very thrilling time for the music trade within the UAE and the MoU is a crucial subsequent step to making sure its future development.
“We’re trying ahead to working intently with the Ministry of Economic system in a lot of areas to help the event of the trade in a manner that’s sustainable for the long run.
“Our precedence is to develop an official music licensing firm that may license the usage of recordings for broadcast and public efficiency underneath UAE regulation.”
IFPI’s Regional Director, Center East & North Africa, Rawan Al-Dabbas added: “This marks a extremely necessary second that may drive the event of a powerful surroundings for recorded music within the UAE and help the subsequent era of artists right here.”
