Music industry loses Rs 100cr in New Year celebrations

NEW DELHI:  New Year may be a time for merry making for most of us, but the music industry virtually mourns the celebrations as it loses over Rs 100 crore due to the non-compliance of the copyright laws in the country.

According to the Phonographic Performances Ltd (PPL), an apex-licensing arm of Indian Music Industry, during events such as celebrations on the eve of new year, the music industry loses more than Rs 100 crore as discos, banquet halls, pubs and restaurants evade the payment of license fee on the music played there.
   
"Contrary to normal days, when food & drink is the main attractions on places of hang-out, on the eve of new-year, it is the music which remains the biggest crowd puller and all those who play music on such occasions did not pay the fee and it is a big loss to us," Soumya Chaudhry, National Head (Event) PPL told.

According to a study conducted by Assocham, youngsters in the age group of 20-30 years working in the services industry such as BPOs, hospitality and aviation are willing to shell out Rs 15,000- 20,000 for the year-end celebrations and others in the 30-45 age bracket are likely to spend about Rs 10,000 in budgeted hotels and restaurants.

Such events bring in a lot of profit and disco owners in all big cities are making special efforts to encash the opportunity, without paying the license fee, Choudhry said.