The Indian entertainment business loses $4 billion per year because of piracy, or at least that's what a new report published this week reckons. Of the money supposedly lost $2.68 billion is lost to the TV sector, the film studios lose $959 million, all of which means the $325 million lost by the Indian music business doesn't seem so bad by comparison. The report was prepared by Ernst & Young for the US/India Business Council, and the spin that surrounded the publication of it focused in particular on the 820,000 jobs it reckons are lost because of piracy. Ernst & Young spokesman Farokh T Balsara told reporters: "Our Mumbai office collected data for this study from on the ground - via direct interviews with stakeholders from the Bollywood entertainment industry. We looked at the industry from every angle - the story was the same across the board: if we can slow or stop piracy, a direct correlation in the generation of wealth and employment will be the result".
Mar 28, 2008
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1 min read
Indian entertainment industry loses billions to piracy
A report by Ernst & Young for the US/India Business Council claims piracy costs India's entertainment industry $4 billion a year, including $325 million for music.