Moser Baer to invest Rs 500 crore in its new initiative

Mumbai, Dec 21 (UNI) In its bid to counter rampant piracy and high-level fragmentation in the entertainment industry, Moser Baer India Ltd announced here today that it would be investing a sum of Rs 500 crore in its new initiative in content distribution, through various Indian home video market with titles in 10 Indian languages.

Briefing mediapersons here, CEO-Entertainment Division of Moser Baer Harish Dayani said ''We'd be investing a sum of Rs 500 crore in the new venture over a period of two years in areas like content creation and acquisition.'' Also, he informed that from now on, the VCDs and DVDs with titles of various Indian movies would be available for sale at even the pan shops so as to ensure that the buyer need not travel a long distance to get titles of their choice.

While each set of VCDs of a particular title will cost Rs 28 and for DVD one will have to pay a sum of Rs 34. The price is not only the MRP, but also inclusive of all local taxes, he maintained. He hoped that these products will hit the market in the country within few weeks' time.

Company Executive Director Ratul Puri said ''Our goal is to own copyrightexclusive licence of 90 per cent of the total mainstream films produced across the country by the end of next year.'' He addeed that in one year alone they wanted to have a domination in the field by having at least 50 per cent market share by the end of year 2008.

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