The aggregate catalog of phonograms and musical works of NFMI member companies accounts for more than 70% of all music published in the world.
According to Vedomosti, the same tax benefits can be extended to the music industry as to the IT sector.
Let us kindly remind that in August 2022 a bill on compulsory licensing of copyright and related rights was submitted to the State Duma.
NFMI sent comments to the Ministry of Culture of Russia with regards to the previous version of the draft law.
Let us kindly remind that the Ministry of Economic Development of the RF has developed a draft law on civil liability for persons initiating the blocking of intellectual property objects (content) on the Internet.
At present, the Intellectual Property Rights Court (SIP) is considering a case on the claim of the Russian Copyright Society (RAO) against the City Palace of Culture of the city of Meleuz of the Republic of Bashkortostan.
At the meeting of the industry guilds of the "Russian Creative Week", representatives of the Federal and Moscow City Duma, the Presidential Administration and members of professional guilds, including the Director General of the NFMI Nikita Danilov, supported initiatives for the development of creative industries.
According to TASS, Nikita Danilov, Director General of the National Federation of the Music Industry, noted that the new order could jeopardize payments to Russian artists signed to foreign labels.
In May of this year, the President of the RF signed a decree according to which Russian companies can fulfill obligations to some copyright holders from unfriendly states in rubles when using a special account of the "O" type opened in an authorized bank.
On August 19, deputy D.
In March 2022, a bill was submitted to the State Duma, according to which the validity period of license agreements, by virtue of which Russian persons had the right to use the results of intellectual activity, is extended for the period of sanctions of foreign states and international organizations against Russian persons.
The members of the NFMI are major music companies. The cumulative catalog of phonograms and musical works of the NFMI member companies makes up more than 70 % of all music published in the world
The Association of Music Companies "National Federation of Music Industry" (NFMI) is a Russian non-profit organization representing the interests of the music business in Russia and other countries.
NFMI was founded in 2011 by record companies to remove barriers in the development of the music industry and create a favorable business climate, to form an effective system of legal protection of copyright and related rights, and to develop and strengthen the legal music market, represent and protect the interests of authors, performers, phonogram producers and other rights holders.
The aggregate catalog of phonograms and musical works of the NFMI member companies represents more than 70% of all music published in the world. NFMI's main goal is to develop in Russia the conditions for the successful existence of any business connected with the creation and distribution of music.
NFMI represents the interests of its members, who are rights holders in the field of music, and the music industry in general, before state authorities, as well as before commercial and non-commercial organizations. The Association also organizes interaction and dialogue with other IT and creative industries on a wide range of issues, promotes the exchange of opinions and coordination of positions within the music industry, explains to the general public the music business' position on key issues, and ensures interaction with international music associations.