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Definition: The rights to any production like a movie or music represent the right to use that content for exhibiting it in a particular format in a particular region and for a period of time.
Description: The rights to a movie or music can be sold on a global basis, national basis or a regional basis. It can be sold for a period of time, say for five years or for lifetime. It can be for exhibiting in theatres, video, cable and satellite, VCD/DVD or all these formats.
Rights represent the intellectual property over the software produced. If the lifetime rights of a serial rest with the production company, then the software library is an asset that the company can exploit at will. Who owns the rights to the software/content determines the valuation of that company's software library.
There many types of rights in the entertainment industry:
Theatrical rights refer to the rights that are received to exhibit films in cinema halls. The distributors buy theatrical rights from the film producers and make arrangements with the theatre owners to exhibit the films to the public. The theatrical rights are limited by predefined territories and for a period of time.
Another type of right is the video rights. Films are released in various formats for home viewing through VCR/VCDs/DVDs. The producers sell these rights to another party, who makes copies for sale in the market.
These VCDs/DVDs are meant for 'home viewing' only i.e., one can buy a copy of it for seeing at home with family members and friends. They cannot be used for showing the film through cable or satellite channels. Cable and Satellite rights are two separate rights, which are largely a result of the satellite invasion. These are expected to be major growth drivers for the film business in the coming years.
In India, film soundtracks account for almost 80 per cent of the total music market. Even though the film producer has the copyright of the film, the music is the outcome of efforts undertaken by a separate group of creative people like the composer, lyricist and others, each holding his own right. Generally, the producer sells this right to a music company, which makes cassettes/CDs for sale in the market. These are music rights.
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