Piracy Threat - Rs. 22,400 Cr Loss Shocks Industry
According to a survey published by the Internet and mobile Association of India, piracy cost the indian entertainment sector Rs. 22,400 crore in 2023. To combat piracy, more regulations and cooperation are desperately needed. 8,700 crore from OTT platforms and 13,700 crore from movies screened in theaters were among the losses resulting from piracy.
These operations might also cost the government up to 4,300 crore in GST. wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW">digital entertainment is expanding quickly, according to industry analysts, and by 2026, it may reach 14,600 crore. But since piracy jeopardizes this expansion, business, consumers, and the government must band together to combat it.
High membership costs, trouble locating material, and the headache of juggling several subscriptions are the primary reasons why viewers resort to piracy, according to viewers. The study also revealed that young adults between the ages of 19 and 34 are more likely to pirate, with males picking classic movies and women favoring over-the-top television series.
It's interesting to note that 64% of users of pirated content would go to free, ad-supported legal alternatives. Furthermore, around 70% of users of pirated content prefer not to pay for any subscriptions. Additionally, the survey found that Tier II cities have higher rates of piracy than Tier I cities.
It's interesting to note that 64% of users of pirated content would go to free, ad-supported legal alternatives. Furthermore, around 70% of users of pirated content prefer not to pay for any subscriptions. Additionally, the survey found that Tier II cities have higher rates of piracy than Tier I cities.