Friday, February 10, 2012

Vietnam copyright and music

An interesting investment in Vietnam sheds light on the local music industry. CyberAgent Asia Internet Fund, which specializes in South East Asian investments is investing in Vietnam’s biggest Internet music media company, NCT has deals with Universal and Sony to distribute their music in Vietnam as well as many local artists. It offers downloads supported by advertising, and the new investment will seek to monetize its audience's use of the site in new ways.

However the Vietnamese music industry struggles to make money. One reason is extensive piracy of all forms of media in Vietnam. Another is weak business models. Most people in the industry are part timers, holding down other jobs to earn a living. Entertainment venues there do not pay royalties. Many musicians give away their CDs at gigs since there is a poor retail market. Two are two collecting societies, the Vietnam Center for Protection of Music Copyright (VCPMC) that collects music copyright royalties and the Recording Industry Association of Vietnam (RIAV) that collects related rights royalties such as sound recordings and broadcasts.

IP Komodo finds it ironic, given the complete reverse elsewhere in the world, that the internet might be the trigger for musicians to be more financially appreciated in Vietnam.

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