This is from a new report on piracy losses issued by Park Associates.
"The practice of illegally accessing subscription streaming video services, and accessing pirate platforms has a price tag. New data from Parks Associates finds that piracy of movies and TV shows across over-the-top video platforms will reach $113 billion by 2027. Dallas-based Parks disclosed the number at the ongoing NAB trade show in Las Vegas.
The international research firm’s latest forecast reveals piracy rates for U.S. streaming services are expected to rise from 22% in 2022 to 24.5% in 2027. In addition, the value of fraudulent advertising delivered online to media and entertainment consumers may exceed $700 million in 2027."
That's $113 billion -- not $113 million -- in projected losses by 2027.
Obviously, losses of this magnitude have effects, and they are not positive. But for the theft, the lost revenue could have been used by distributors to invest in more programming and/or higher quality programming. And it could have been used to reward the creators and producers of programming to provide incentives for the continued creation of programming.
Certainly, there needs to be better means of detecting theft of intellectual property and enforcing existing sanctions. And there also needs to be a greater effort at continuing education to explain why the Founders included the Copyright Clause in the Constitution -- that is, to protect and secure for creators of intellectual property the fruits of their labors.
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