What is the Services Agreement?
The services agreement is a strategic partnership in which Copyright Agency provides licensing and membership services to Viscopy members and customers. The agreement is about creating greater efficencies, helping to reduce administrative costs and increase the amount distributed to members. The agreement commenced in July 2012. The Viscopy Board monitors Copyright Agency’s performance.
Under the services agreement, Copyright Agency is paid 25% of Viscopy copyright licensing revenue, 10% of foreign revenue and a reducing proportion of statutory revenue from 25% in the first year until 10% in the third year. As the statutory revenue reduces these savings are passed onto members.
The services agreement concluded on 30 November 2017 when Viscopy and Copyright Agency merged.