Film industry loses up to Rs 4,000 cr to piracy: Hiren Gada | mumbai | Hindustan Times
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Film industry loses up to Rs 4,000 cr to piracy: Hiren Gada

The 14,000-crore Indian film industry lost a whopping Rs 3,000-4,000 crore in the last fiscal to rampant video and music piracy, a top production house official said.

mumbai Updated: Oct 02, 2009 16:44 IST

The 14,000-crore Indian film industry lost a whopping Rs 3,000-4,000 crore in the last fiscal to rampant video and music piracy, a top production house official said.

"The film industry incurred a revenue loss of Rs 4,000 crore last year due to video piracy," Shemaroo Entertainment Director Hiren Gada told PTI in Mumbai.

Gada said the video and music piracy market currently is estimated at around Rs 1,000-crore and is growing at an alarming rate.

On the arrest of one of his employees by the Mumbai Crime Branch in Mumbai recently in this regard, Gada said though an employee was arrested by the police in connection with alleged piracy of the film What's Your Rashee, the company had nothing to do with the incident.

"We strongly condemn such illegal activities and have our own anti-piracy team in place. We have strong ethics and the person's service has been terminated," he added.