#SHOWBIZ: RIM seeks dedicated Budget 2027 fund to push Malaysian music globally

KUALA LUMPUR: The Recording Industry Association of Malaysia (RIM) is urging the Malaysian government to set aside a specific budget for 2027 to boost the country's music industry on the world stage and generate new income for local talent. RIM president Rosmin Hashim emphasized that financial support is vital as the industry is increasingly influenced by streaming services and social media platforms like TikTok and Facebook.

He explained that the surge in digital revenues, coupled with collective management organizations, has directly benefited music creators, record labels, and rights holders by boosting digital sales and royalties. According to Rosmin, earnings from digital platforms and management bodies have significantly improved the financial situation of those involved in the music industry.

In addition to international ambitions, RIM is pushing for a larger overall budget allocation in the upcoming national budget to spur domestic industry growth and strengthen copyright protection. Using data from a PricewaterhouseCoopers (PwC) economic impact study, Rosmin highlighted that the Malaysian music sector currently contributes RM19.5 billion to the national economy annually, a number he believes could grow substantially with proper government investment.

Rosmin also called for the Domestic Trade and Cost of Living Ministry to receive ample resources to protect intellectual property in the rapidly changing artificial intelligence (AI) environment. He stressed the importance of requiring AI developers to secure formal licenses before utilizing copyrighted creative works to train machine learning models.

Licensing would allow copyright owners to earn revenue from the use of their works in training AI models, as well as from the outputs generated by the technology. With legally obtained licenses, both copyright holders and AI developers would gain mutual benefits.