Piracy
in the Indian cinema has attracted the attention of one and all for many years,
especially in the last few years. All the regional film industries are suffering
from this menace, ranging from Bollywood to Tollywood to Kollywood. Many film
industry experts opine that it has grown out of proportion in the recent times
and has reached a state wherein either piracy is obliterated effectively, or else
piracy obliterates film industry from its roots. Statistics also point in this
direction. As per the Confederation of Indian Industry (CII), the Indian Film
Industry loses about Rs.300 cr annually due to piracy. Film-maker Subhash Ghai
says, "Piracy has hit Indian cinema badly and Indian cinema loses over Rs.
one bn every month due to piracy." As per the estimates of the Federation
of Indian Chamber of Commerce and Industry (Ficci) for the year 2004, the Indian
Film Industry suffered losses in the range of Rs. 1,200 cr due to piracy.Even
though there are variations among different sources about the amount of loss,
many Indian film makers say that piracy is eating away at least 50% of the industry's
profits.
In
the recent times, many new developments such as, corporatization of the film industry,
organized film financing, film insurance and internationalization of the Indian
Cinema have been underway in the Indian film industry to strengthen it. But, sources
opine that in one stroke, all of them have been negated by the piracy menace.
As per S Jaipal Reddy, former Minister for Information & Broadcasting (I&B)
and Culture, Government of India, of late, banks have been financing films but,
the big issue that is hampering the investment is piracy. The industry status
given in the year 2001 to the Indian film industry has brought many changes, in
the form of making it eligible for financing from banks and financial institutions.
Likewise, it also facilitated many production houses going public through IPOs
(Initial Public Offerings). Nevertheless, doings of these latest developments
were marred by the piracy.
|
