_The Creative Wealth of Nations_ Bollywood and Nollywood’s popularity with international audiences strengthens the case for the study of copyright and related measures across borders. Another dimension, however, is to develop local cinemas where appropriate. For example, in India where the population is more than a billion, Indian films should <u><mark>||</mark></u> <mark>Figure 9 ||gure 9 ||ure 9 |||| Bollywood: Sources of Revenueywood: Sources of Revenuewood: Sources of Revenue</mark> effectively reach its middle class of Film Indusry Revenue Percentage about 300 million people. Instead, it reaches only 45 million.<sup>232</sup> 74%

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|| Figure 9 ||gure 9 ||ure 9 |||| Bollywood: Sources of Revenueywood: Sources of Revenuewood: Sources of Revenue<br>Film Indusry Revenue Percentage<br>74%<br>80<br>60<br>40<br>20 11% 7% 5% 3%<br>0<br>Domestic Overseas Home Cable and Ancillary<br>Theatrical Theatrical Video Satellite Revenue<br>Rights Streams<br><!-- End of picture text -->

One constraint is this: India does 60 not have “many cinemas for people 40 to go to – less than 13,000, versus 20 almost 40,000 in the U.S. (a country which has only one-fourth 0 of India’s population).”<sup>233</sup> Yet over seventy percent of Bollywood’s revenues are from domestic sources. (See figure 9.) A similar situation could be true in Nigeria and elsewhere.

Source: International Business Development As figure 10 shows, digital revenues have been steadily growing since 2008. It is nonetheless premature to see this as slamdunk evidence that the music industry is on its way to reclaim its past revenue highs. Many people like enjoying music for free, and the Internet enables this behavior in unprecedented proportions. In addition, as we saw earlier, sizable commercial interactions here are mostly in the developed world.

But still, there is a need to ask how music industries from developing countries could effectively tap into this global music market via new technologies. These countries have <!-- Start of picture text -->
|| Figure 10 ||<br>Music Industry Global Digital Revenues<br>2008-2013 (USD$ Billions)<br>7<br>5.9<br>5.6<br>6 5.1<br>5 4 4.4 4.6<br>4<br>3<br>2 Series1<br>1<br>0<br>2008 2009 2010 2011 2012 2013<br>Source : IFPI<br><!-- End of picture text -->

a unique product that could attract global audiences. It just needs to be marketed strategically. Since the arts are not as capital intensive as extractive industries, this provides another lens to determine the kind of policies to put in place regarding provisions such as tax credits for innovative and eco-friendly jobs. Needless to stress, this could also be linked to broader frameworks of economic diversification and rural development strategy.

At any rate, questions here abound: In middle income countries, for example, how does the middle class behave in the market place of artistic products, which some may consider ‘luxury goods’?* Do they expect online music to be free due to the culture of piracy or could they

> 232 Palash Ghosh, “Bollywood at 100: How Big Is India’s Mammoth Film Industry?” _International Business Times_ .

> 233 Ibid.

* In this case, we may assume that this term also encompasses services.

<mark>60</mark>