Annual meeting of TONO.

TONO's annual meeting adopted new settlement principles

In an extraordinary annual meeting today, TONO's members adopted new general principles for how TONO will distribute and settle remuneration to licensees.

/ 28/08/2024 / Willy Martinsen

TONO has adopted new general principles for the settlement of remuneration. This is clear after the board's proposed principles received 358 votes in favor and 26 against, which corresponds to a support of 93,2 percent of the participants.

– I thank TONO's annual meeting for making a historic and important decision. TONO's members and rights holders in other countries can therefore have full confidence in TONO as a modern copyright manager that meets the requirements of the CRM Directive, the Collective Management Act and CISAC's business rules, says TONO Chairman Ole Henrik Antonsen.

The new principles

TONO's new general principles for the distribution and settlement of remuneration consist of five main principles: Distribution of remuneration, Equal treatment, Settlement based on actual use, Representativeness and Non-distributable funds. You can see the new principles by clicking here.

– These principles ensure equal treatment of members and increase transparency in settlements. They establish a more direct relationship between collected and paid remuneration, and describe how we will handle missing or incomplete reports, as well as how TONO will handle non-distributable funds, says Antonsen.

Antonsen also assured the annual meeting that the board will continue to work towards the best possible use of the non-distributable funds, and do everything they can to meet the needs of all parts of TONO's membership.

Adaptation to the Act on collective management

The new principles are part of the work TONO has done over the past few years to adapt its operations to the requirements of the Collective Management Act. This includes, among other things, the establishment of an annual transparency report, investment principles, the establishment of rights categories and now new general settlement principles.

The extraordinary annual meeting was held after TONO's ordinary annual meeting on June 11 did not adopt the original proposal. Since then, TONO's board has revised the principles, which now provide clear guidelines for settlement practices.