The Indian Music Industry has two big agendas, Shridhar Subramaniam, President of Sony Music India & Middle East, and Chairman of the Indian Music Industry (IMI) has said in a Vision 2022 report released by the IMI: The first is anti-piracy, especially because of "illegal P2P apps or sharing apps, or even websites based out of India or Pakistan." Subramaniam estimates that the losses resulting from piracy amount to Rs 1200-1500 crores (around $250 million) each year for the Indian Music industry. The Vision 2022 document is based on a conference held by the IMI, with participation from other organisations in the space, including Phonographic Performance Limited (PPL) and Indian Performing Right Society (IPRS). The problem of safe harbour The second issue that Subramaniam raised was about ensuring fair value from the entities that pay the music industry: the music industry is around $130 million (Rs 850 crores), but powers "some giant industries" which are around $2 billion, like Radio which is Rs 3000-4000 crores, TV which is Rs 25,000 crores, live music business, device and equipment, which is Rs 2000 crores. "Those industries pay less than 2-3% towards the use of music. This is a fair value issue and we have to address this," Subramaniam has said. He pointed towards towards the valuations of service providers like Saavn, with the Jio-Saavn merger valued at Rs 7000 crores, and Radio Mirchi at Rs 3300 crores, while Saregama, which controls the most amount of historical music in India, is valued at…
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