The Federation of Indian Chambers of Commerce and Industry (FICCI) under the auspices of its committee on Indian Entertainment industry, is organising a special meet on video piracy in Mumbai today.
The meet to be chaired by Yash Chopra will be attended by the prominent representatives of Indian Music industry besides representatives from different segments of Indian film industry, which are critically affected by the video piracy. According to the Film Federation of India survey, the film industry is losing about Rs 3.6 billion per annum in revenue as a result of the rampant video piracy.
Despite a recent MoU signed between the film industry and the cable industry to collectively curb video piracy, pirated films are still being openly screened on cable networks and pirated VCD’s of the films flood the video library within days of theatrical release of the new film, in violation of the copyright act.
According to the sources in FICCI, the Mumbai conference on video piracy will have a presentation from the Indian Music industry. The participants will discuss ways and means to fight video piracy and the deliberations are expected to result in the formulation of a plan of action to effectively curb video piracy.