MUSIC INDUSTRY SUFFERING HUGE LOSSES DUE TO PIRACY - RIM

KUALA LUMPUR, July 29 (Bernama) -- Pirated music has seen a 50 percent drop
in the music industry's revenue over the past 15 years says the Recording
Industry Association of Malaysia (RIM).

According to RIM vice president Norman Abdul Halim, pirated music activities
(pirated cd, vcd, dvd) has seen a 50 percent drop in revenue for the music
industry.

"Fifteen years ago the music industry's income in the country was about
RM300 million (US$93.75 million) but due to piracy, we are looking at only RM150
million (US$46.85 million) which is a huge loss," he told Bernama Radio24's
‘Kerusi Panas’(Hot Chair) programme.

Norman, who is also KRU Studios chief executive officer said the size of the
Malaysian music industry was not big but has the potential to contribute towards
the nation's aspirations to become a high income and developed nation by 2020.

He added that the digital industry had already taken over the physical sales
of albums and opened a whole new perspective for musicians to enhance their
career in the music industry.

"In the past, one will have to buy an album or cassette even to listen to
only one favourite song, but now they can download a song through their hand
phones for just RM2 (US$0.62) or RM3 (US$0.93) per song," he said.

However, those in the industry must not abolish the physical production of
cassettes or cd, he said. (US$1=RM3.19)

-- BERNAMA




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