The Indian Music Industry (IMI) announced the launch of Music Mobile Exchange (MMX) with an aim to encourage legal downloads of music content for mobile subscribers. 142 music labels are part of the exchange.

“Mobile chip piracy is rampant causing serious piracy concerns, as nearly 70 per cent content is music. What is alarming is that most of the mobile stores advertise music downloads oblivious of the fact that they are actually infringing the provisions of the Copyrights Act,” said Savio D’souza, Secretary General, IMI and MD, MMX.

He added that loss due to piracy was estimated to be about Rs 300 crore.

MMX will now offer licence for one-to-three years per terminal for a price of about Rs 1500-Rs 5000.