India's entertainment industry loses $4 billion a year due to piracy

MUMBAI: The Indian media and entertainment industry loses $4 billion (Rs 160 billion) in annual revenues due to piracy, a study said.

The menace of piracy is also costing the sector 820,000 jobs, said the US-India Business Council (USIBC) in a report titled ‘The effects of counterfeiting and piracy on India‘s entertainment.‘

"This is the reason why while Bollywood makes more feature films than any film industry on earth its revenues are only two per cent that of Hollywood‘s. This is also why India is only a marginal market for Hollywood. The story is much the same for music, television, music and electronic games," said USIBC president Ron Somers.

The Indian film industry loses $959 million and the television sector $2.6 billion a year. In the gaming segment, piracy eats away $40 million of annual revenues while music loses $325 million.

The job losses are equally significant. Films lose a little over half a million jobs each year, TV , and the music industry 133,434.

In the television sector, the loss is partly due to under declaration by the local cable operators (LCOs) where the average price paid by subscribers is Rs 180. The cable operators also air pirated films.

For filmmakers their ability to fight this menace is determined by their financial strength and individual initiatives, the study said.

USIBC, in conjunction with Ficci, commissioned Ernst & Young to conduct the study.

Said Ficci secretary general Dr Amit Mitra: "This study shows that the best way to make a boom in the Indian entertainment bigger is to stop the affliction of piracy. For the average Indian who wants to increase his or her chances for being employed in Bollywood and associated industries, fighting piracy is a place where all our collective efforts must start."

Filmmaker Yash Chopra said, "We have incurred huge losses in film industry due to piracy. This piracy issue started as early as 1979."

Added filmmaker Ramesh Sippy: "Without government‘s help, we can‘t stop piracy. When we released Sholay, there was no piracy as its one of the greatest films. The government should control piracy and curb it to the maximum.



Latest Reads

MIPCOM 2016 sets new records

CANNES: Record attendances at MIPJunior and MIPCOM, more World Premiere TV and International Screenings than ever, a remarkable Japan Country of Honour programme, a Personality of the Year, Shonda Rhimes, who packed delegates into her keynote interview and a tour de force opening keynote from Sony...

Specials Event Coverage Mipcom
BidSlate offers film buyers, content-owners negotiation platform

What if filmmakers didn’t have to rely solely on film markets and sales agents to sell content? And international film buyers had continuous access to a 24/7 international marketplace populated by an ever-growing catalog of content?

Specials Event Coverage Mipcom
Two popular BMX content creators join XTreme video multi-platform network

XTreme Video, the leading Multi-Platform Network (MPN) for extreme athletes and creators with over 200 million views each month and more than 50 million social followers, today announced the addition of two of YouTube’s top BMX creators, KinkBMX and Boqer123, to the XTreme Video network. Heading...

Specials Event Coverage Mipcom
INsight-Flare to produce reality competition 'The Line'

INsight TV has commissioned yet another new original format in Ultra HD, partnering with Flare Media to produce the reality competition The Line.

Specials Event Coverage Mipcom
FremantleMedia brings 'Familiar Taste' to MIPCOM

FremantleMedia is bringing a brand new title to MIPCOM 2016, which promises to leave viewers feeling warm inside. Familiar Taste sees well-known faces thanking those people who have had a major impact on their lives by sharing with them a surprise meal they have cooked themselves.

Specials Event Coverage Mipcom
MIPCOM: Beta Film delivers interactive TV-event 'The Verdict' throughout Europe

The interactive TV-event The Verdict continues its roll-out throughout Europe and will be simultaneously broadcast in six countries with additional territories to follow. The MOOVIE production by Oliver Berben (“Shades of Guilt”, “Hotel Adlon – A Family Saga”) will be screened in Germany, Austria,...

Specials Event Coverage Mipcom
'Inside the Masters of Dirt' on INsight TV to have non-scripted reality series in ultra-HD

INsight TV has commissioned a new, non-scripted reality series Inside the Masters of Dirt with XTreme Video, which follows the crew that produces the popular freestyle motocross arena show of the same name. Featuring fearless leaders in extreme motorsports, XTreme Video will be the first to present...

Specials Event Coverage Mipcom
MIPCOM: Cyber Group Studios signs deals with broadcasters, digital platforms

On the heels of MIPCOM Junior, Paris-based producer and distributor Cyber Group Studios continues to establish a strong presence worldwide by signing new agreements with buyers including major broadcasters and digital platforms for more than ten series of its catalogue. Deals cover players such as...

Specials Event Coverage Mipcom
Bloomberg Media Distribution signs Hollywood Reporter, Billboard, El Financiero, STAT as partners

Bloomberg Media Distribution today announced a partnership with a raft of premium publishers to provide business, technology, entertainment, music, lifestyle and health news to global audiences. Launched at MIPCOM, Bloomberg Media Distribution will distribute The Hollywood Reporter, Billboard, El...

Specials Event Coverage Mipcom

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories