Ficci, USIBC to fight against piracy

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Mumbai, Mar 27 : “Piracy is a growing global epidemic and the proportions of the menace has reached such critical levels that the very existence of global entertainment is at stake,” said Vijay John Lazarus, president, Indian Music Industry (IMA).

He was speaking at a session titled, ‘Defending your Intellectual Property: How far have we succeeded?’ at Ficci Frames-2007 on Tuesday.

Ficci (Federation of Indian Chambers of Commerce and Industry) and the US-India Business Council (USIBC) have laid out plans to fight piracy and increase levels of employment in the entertainment business. Ray Vickery, senior advisor, USIBC said, “Bollywood makes more films than Hollywood, yet its revenue is only 2% as compared to Hollywood. Roughly, the revenue loss due to piracy in the Indian entertainment industry amounted to $186 million in 2006. Of the 132 films made in 2006, only 8 films made money.” He added, that in teaming up with the Ficci in a Bollywood-Hollywood initiative, would add more teeth to the fight against piracy.

IMA and USIBC have chalked out a strategy to fight piracy. Vickery added, “First we have to conduct a study including Indian losses in films, television, music and video games. Secondly, we need to educate people about piracy.”

Timali Sengupta, CEO, T Sengupta Associates, added that there was a need for legislation and utilisation of optical disc technology to aid combat piracy, scientifically. The governments of the US and India have to be more proactive in combating cross-border piracy, agreed the Indian and US delegates present at the event.