The Indian film industry is one of the largest film industries in the world. Around 1000 films are produced each year in India. It earns around $2 billion from legitimate sources such as screening at theatres, home videos and television rights.
However, according to industry sources, the clandestine film piracy industry earns around $2.7 billion. Red Chillies Entertainment, a production house promoted by actor Shah Rukh Khan, was a victim of film piracy for its film ‘Dilwale’ in 2016. It grossed 148 crore at the box office but its pirated version, circulated a day before its release, accounted for more earnings. Films like Kaabil, Great Grand Masti and Udta Punjab have all faced a similar fate. Uday Singh, Managing Director, Motion Picture Distributors’ Association (India), said, “Content theft or piracy in the film industry originates from ‘camcording’ in cinema halls.”
Effects of piracy on the Indian film industry
Uday Singh informed that the infringed copies appear online within a few hours of a film’s release. He added, “The Indian film industry loses around 18000 crore ($2.7 billion) and over 60,000 jobs every year because of piracy.” This is also the figure that the World Intellectual Property Organisation (WIPO) brandishes in its magazine, quoting noted filmmaker Anurag Basu. According to the latest KPMG-FICCI report on the Indian media and entertainment sector, the Indian film industry is projected to grow from 138.2 billion ($2.09 billion) in 2015 to 226.3 billion ($3.43 billion) by 2020 at an annual growth rate of 10.5%. But piracy could also grow exponentially unless it is checked.
Origin of pirated copies
Bu hikaye BUSINESS ECONOMICS dergisinin October 1 - 15, 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye BUSINESS ECONOMICS dergisinin October 1 - 15, 2018 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Deposit shortage: challenges facing India's banking ecosystem
In any macroeconomic framework, the household sector plays a critical role as a driver consumption, savings, and overall economic activity.
India's future dreams in Semiconductors & AI
A midst the gloom of the RG Kar affair or the Tirupati laddu scam or even the continued terrorist attacks in Jammu & Kashmir, even after the completion of the first general election in the state, we find hope and encouragement when the founder of Nvidia, Jensen Huang, in his recent visit to India says \"India will be a gigantic opportunity for us\".
The Ramayana: Justice and Modern Man
Consisting of Twenty-Four Thousand worthy Sanskrit verses, the Ramayana is one such epic, which provides a pathway to one committed to justice to establish himself as an ideal human being by following the exemplary life of its hero.
Vallabhbhai Patel: A Sardar of Farmers, A Matchless Social Reformer and the Maker of United India
Sardar Vallabhbhai Patel was instrumental in unifying the princely states to form the Union of India.
Understanding Prosperity: NOBEL Prize awarded for groundbreaking research on institutions and economic development
The Royal Swedish Academy of Sciences has awarded the Memory of Alfred Nobel to three US-based economistsDaron Acemoglu, Simon Johnson, and James A. Robinson\"for their studies on how institutions are formed and affect prosperity.\"
Sinking Resources: Groundwater crisis and sustainable solutions in Kolkata
Kolkata's underground water crisis is becoming a serious issue, driven by rapid urbanization and the construction of high-rise buildings.
Tourism Industry positively impacted by the festive season
Diwali transforms streets into a spectacle of festive lights, Diwali transforms streets into olis, and families gearing up for grand celebrations.
RBI's Shift to a Neutral Stance: Signaling a New Phase in Monetary Policy
For over a year, the Reserve Bank of India (RBI) has taken a firm stance against inflation, raising interest rates by 250 basis points between May 2022 and February 2023 in response to post-pandemic price pressures.
UK Budget
There _ he latest UK budget represents a departure from previous fiscal documents.
Han Kang's Historic Nobel Prize Win
The 2024 Nobel Prize in Literature has been awarded to T South Korean writer Han Kang, 53, known for her works including The Vegetarian, The White Book, Human Acts, and Greek Lessons.
