In an extraordinary general meeting on Wednesday, TONO’s members approved new general principles outlining how TONO shall distribute royalties to rights holders.
/ 29/08/2024 / Kristian DugstadTONO has adopted new general principles for distribution of royalties. The board’s proposed principles received 358 votes in favour and 26 against, amounting to a 93.2 per cent approval rate among participants.
– I thank TONO’s general meeting for making a historic and important decision. TONO’s members and rights holders in other countries can now have full confidence in TONO as a modern collective rights management organizatino that meets the requirements of the CRM Directive, the Norwegian Act on Collective Rights Management, and CISAC’s professional rules, says TONO’s chairman, Ole Henrik Antonsen.
TONO’s new general principles for the distribution of royalties consist of five main principles: Distribution of Royalties, Equal Treatment, Accounting Based on Actual Use, Representativeness, and Non-distributable Funds. You can read the principles by clicking here. (Norwegian)
– These principles ensure equal treatment of members and increase transparency in the distribution process. They establish a more direct relationship between collected and paid royalties, and describe how we will handle missing or inadequate reports, as well as how TONO will manage non-distributable funds, says Antonsen.
At the same time, Antonsen assured the general meeting that the board will continue working towards the best possible use of non-distributable funds, and do everything they can to meet the needs of all segments of TONO’s membership.
The new principles are part of the work TONO has undertaken in recent years to adapt the organisation to the requirements of the Norwegian Act on Collective Rights Management. This includes, among other things, the establishment of an annual transparency report, investment principles, the creation of rights categories, and now new general distribution principles.
The extraordinary general meeting was held after TONO’s regular general meeting on June 11 did not approve the original proposal. Since then, TONO’s board has revised the principles, which now provide clear guidelines for distribution practices.
