PIRACY: STEALING THE SHOW!

Piracy is where blockbuster hits go cheap because the prices are steep

Piracy is the bane of creativity - and it’s everywhere. According to the website of software solutions company Go-Globe, piracy has sunk its claws into every digital media format, from television and movies to music, software, video games, and even books. Their site estimates a staggering 141 billion visits to piracy websites in 2023-24 alone. Unsurprisingly, the US, Russia, and China top the charts for the most visits to these platforms.

The site also reveals that videos - including films and TV shows - are the most pirated content on the internet, making up 66% of all pirated material. And the financial toll? The US alone loses $29.2 billion annually to online video piracy. During the Covid-19 lockdown, when people had more time on their hands (and apparently on piracy websites), global film piracy spiked by 33%. It’s clear that piracy is not just a nuisance; it’s a deeply entrenched menace in the global entertainment industry.

BACK HOME: INDIA’S PIRACY PREDICAMENT

India is no stranger to the piracy epidemic. A recent study by consulting firm EY and the Internet and Mobile Association of India (IAMAI), titled The Rob Report, highlights how piracy plagues India’s film industry and OTT platforms. The report dives into the many factors that drive piracy in India, including gender, language, age, internet habits, and geography.

Here are some highlights from the report that paint a vivid picture of piracy’s revenue-draining impact on India’s entertainment industry.

• India’s Media Boom: India’s media and entertainment industry has been one of the country’s fastest-growing sectors, thanks largely to digitalization. According to the FICCI-EY 2024 report, the industry raked in ₹2,31,700 crore in 2023 and is on track to hit ₹3,08,100 crore by 2026.