IMI claims that the Indian music industry has seen losses of more than Rs 1,800 crore during the last three years. What, according to you, has been the reason behind this?
A. The losses are a combination of a number of reasons. The first is the simple fact that the market has more than halved, and the investments and cost structures were not adjusted for that. So, it was obvious that there would be significant losses. This, coupled with the ravaging effect of MP3 piracy and suicidal price reductions, have had a devastating effect on the entire industry’s bottom lines.
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