The Indian entertainment industry has been affected by piracy for a long time. But the latest figures from last year have surprised everyone. The Indian entertainment industry has suffered a huge loss of Rs 22.4 billion in 2023 due to theft of original content i.e. piracy. This information was provided in The Robb Report published on Wednesday by EY and the Internet and Mobile Association of India (IAMAI). According to PTI News, the report says that stricter regulation and collaborative efforts are needed to effectively reduce the risks of original content theft (piracy).
Most piracy occurs through online platforms.
According to news, 51 percent of media consumers in India get original content from illegal (pirated) sources. A maximum of 63 percent of this is done through online platforms. A profit of Rs 22.4 billion is expected from piracy of original content in India in 2023. Of this, Rs 13.7 billion was earned from content created illegally in theatres, while Rs 8.7 billion was earned from content created in OTT platforms. This is estimated to have resulted in a potential Goods and Services Tax (GST) loss of up to Rs 4,300 crore.
understand piracy
In this case, piracy means illegal copying, distribution or use of someone’s copyrighted material. This may include music, movies, software and intellectual property, etc. This is considered a form of piracy because it violates the rights of the original creators and can cause them significant financial losses. Rohit Jain, Chairman, IAMAI Digital Entertainment Committee, highlighted the urgent need for collective action among stakeholders.
Film entertainment business to reach Rs 14.6 billion.
Jain said there is no denying the rapid growth of digital entertainment in India. The film entertainment business is expected to reach Rs 14.6 billion by 2026. However, this prospect is seriously threatened by piracy of original content. All stakeholders, government bodies, industry players and consumers must come together to address this issue. The report states that this type of content mainly attracts people in the 19-34 age group.
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