Bits from the first day of the Fortune Global Forum:
Jyotiraditya Scindia, Member of Parliament: We wrote to 500 CEOs from companies that tend to junk PCs on a regular basis, and asked them to donate PCs to schools. We offered them advertising on the screensavers and desktops as an incentive. First year we got 300 PCs. Now we’re getting around 600 a year.
Amit Khanna, Chairman of Reliance Entertainment: Last year, 75 percent of Bollywood revenues came from theatrical release, and 25 percent from others. Bollywood exports are growing at a compounded rate of 70 percent year-on-year, 137 countries. We must look at new revenue streams to reach out to micro segments of content. The Internet allows us to target dispersed markets – particularly those outside the country. Digital downloads are a huge future opportunity.
Rajjat Barjatya, MD of Rajshri Media: Every Indian film goes up on P2P networks the day it is released. There’s piracy at grocery stores in the US. We offered full movies for download online and got over 6500 downloads of Vivah at around $10 per movie, around 600 in Finland. We hit triple digit downloads for a Marathi film we released online recently. The way to tackle piracy is – first make is available legally to customers, and THEN go after the pirates. For a lot of new releases, 20 percent is from theatres and 80 percent from other revenue streams, so there’s an opportunity there.
Dan Glickmann, MD of Motion Pictures Association of America: India is the strongest per-capita movie market in the world, where movies are a primary source of entertainment. 60 percent of American motion picture reveues are from outside the US. There’s been a softening in revenues in the US over the last couple of months after a strong 7 months. A reasonably priced legal download will be taken by many. Some will steal anyway, but given a legal option, most wont.
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