It took a warning from a High Court Judge, but Pod Concerts has paid the royalties it owed the Irish Music Rights Organisation (IMRO) for summer festivals including Electric Picnic.
Although John Reynolds’ company had to stump up euro 150,000 as part-payment, or face what Justice Peter Kelly described as “serious consequences,” it does have the satisfaction of getting IMRO to take another look at the rates it charges for the big Irish festivals.
The matter has dragged through the Irish courts for a year and covers festivals going back four years. At one time, IMRO threatened to challenge Pod’s licenses to run summer festivals.
A court settlement was reached last July, when Pod undertook to pay IMRO euro 216,000 in outstanding royalties.
IMRO had asked for euro 432,000 but agreed to the lesser amount provided Pod lodged euro 150,000 in court as part of the mediation agreement.