Date: 21st February 2001
In an effort to reduce piracy in a country that ranks second (behind China) in sales of bootlegged videos, video distributors in Malaysia have cut prices by more than 50 percent.
In an interview with Singapore's The Straits Times, Loh Kim Wan, president of the Video and Film Industry Association of Malaysia (VIFIM), commented: "Obviously lowering prices alone is not going to be effective, but what we are trying to do is create awareness among consumers. ... At least we can recoup some royalty for our companies. If we do not lower prices we get nothing." VIFIM, which represents the major Hollywood studios, claims that they are losing $40 million a year because of piracy in Malaysia.
Source: Studio Briefing