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Posted on September 25, 2007 by Rika | Posted under Music
The Latest Tax Laws For Canadian Music Downloads
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It can also be said with reasonable surety that Canadian artists' royalty losses have been offset by the private copying levy system. The Canadian Private Copying Collective alone has collected millions of dollars over the past few years with much of that revenue earmarked for Canadian artists. Laws that require people to pay for simple music software goodies like the popular iTunes have the potential of nipping a nascent industry in the bud. Whereas Apple iTunes may well be able to survive the pressure by using its deep pockets, smaller players may not be so lucky. Copyright rules require music download industry to submit more than 40% of their revenue to the collectives. Incredible as it may seem, even the 40% of gross revenues as envisioned by these tariffs may not cover all the rights that are associated with commercial music download services. It remains well within the realm of possibility that other groups, including collectives representing music performers and producers, may come forward to demand their piece of the cake by further cutting into online music services' revenues. The CIRPA, or the Canadian Independent Record Production Association, has quantified the value of the Canadian market for music downloads at well over $100 million. The well established players have settlements that have been well negotiated to their advantage with the record labels, it is the development of a viable economic model that the future growth of the industry depends on. The much maligned peer to peer downloads are actually already subject to a fair amount of compensation through the levy on private copying. The actual threat lies elsewhere - the collectives that essentially are poised to capture a very large share of the tiny market. Other innovative areas which the tariff lovers are tapping include the webcasters and online games industry. Others have been eyeing the multi-million online sharing music industry. As much as 25% of revenues, however, continue to come from the online websites that offer music sharing with free music software. The reproduction rights over online music are also being targeted to generate additional revenue in this vast field. Audio webcast sites that feature content similar to conventional radio stations, as well as from established radio stations that webcast their signal also well in the line of fire. Of course, there are different rates of taxes for different online services - varying from five percent to as high as twenty-five percent. Keep these things in mind before you go for the next download. Fee-based alternatives such as Apple iTunes, Napster, and Puretracks are fast replacing the free music software download market. About The Author: The author loves mixing music. You can make your own music by setting up a home recording studio and using a good music production software. Learn all the music terms with the help of an online music dictionary. |
Tags: MUSIC, DOWNLOAD, FREE, SOFTWARE, NAPSTER, APPLE ITUNES, RADIO STATIONS, DVDS, ONLINE, COMMERCIAL, PERFORMERS, PRODUCERS, WEBCAST, TAX, LAWS, TARIFFS.
