Pirated music has seen a 50 per cent 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 per cent drop in revenue for the music industry.
"Fifteen years ago the music industry's income in the country was about RM300 million but due to piracy, we are looking at only RM150 million which is a huge loss," he told Bernama Radio24's ‘Kerusi Panas’ 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 or RM3 per song," he said.
However, those in the industry must not abolish the physical production of cassettes or CD, he said. -- Bernama
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