The U.S.-India Business Council released a statement Friday saying it is hopeful that the India release of the hit film "Slumdog Millionaire" will prompt authorities to recognize the importance of protecting intellectual property and to increase enforcement efforts against film and video pirates. The movie about an orphan growing up in the slums of India received 10 Academy Award nominations this week, including best picture and best director. A recent study commissioned by USIBC as part of its Bollywood-Hollywood Initiative found that India's entertainment and media industry loses some 820,000 jobs and about $4 billion to piracy each year.
"Piracy translates directly into lost opportunities and lost jobs - and squandered creativity," USIBC President Ron Somers said in a press release. "Imagine how many 'Slumdogs' could be conceived, produced and premiered if only there were greater efforts to crackdown on film piracy." Indian media and entertainment is an $11 billion industry growing at over 18 percent annually, USIBC said. "Slumdog Millionaire is just the latest example of the growing connection between Bollywood and Hollywood," said Greg Kalbaugh, the group's director. "The entertainment industries of the U.S. and India are increasingly intertwined, but widespread piracy threatens industry in both countries."
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Responded on October 17, 2009 12:08 PM
CrekeermAwary
Im new here and i enjoy music and movies alot , Hope lots of ppl like me here :)
Tamil Moves
Responded on January 26, 2009 10:45 AM
Milton
More faux-conomics from the content industry. It is self-evident that someone who will download a movie for free or buy a pirated DVD for $1 is not necessarily someone who would have purchased a DVD for $20 or a theater ticket for $12.
Responded on January 24, 2009 9:21 AM
Mumbai
True. Most people in India have already seen the movie before it's release. I think Fox also blundered by delaying the release. There was so much hype around the movie there was enough time for friends and relatives traveling from abroad to get in a copy for friends