The Indian entertainment industry has been troubled by piracy for a long time. But the latest figures of last year have surprised everyone. The Indian entertainment industry has suffered a huge loss of Rs 22,400 crore in 2023 due to theft of original content i.e. piracy. This information was given in The Robb Report released on Wednesday by EY and Internet and Mobile Association of India (IAMAI). According to PTI news, the report said that stronger regulation and collaborative efforts are needed to effectively reduce the risks of original content theft (piracy).
Most piracy is through online platforms.
According to the news, 51 percent of media consumers in India get original content from illegal sources (pirated). Maximum 63 percent of this is being done through online platforms. An earning of Rs 22,400 crore is expected through piracy of original content in India in 2023. Of this, Rs 13,700 crore was earned from content made illegally in theaters, while Rs 8,700 crore was earned from content made on OTT platforms. It is estimated that this has resulted in a potential Goods and Services Tax (GST) loss of up to Rs 4,300 crore.
understand piracy
Piracy here 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 of the Digital Entertainment Committee of IAMAI, stressed the urgent need for collective action among stakeholders.
Film entertainment business will reach ₹14,600 crore
Jain said that the rapid growth of digital entertainment in India cannot be denied. The film entertainment business is expected to reach Rs 14,600 crore by the year 2026. However, this possibility is seriously threatened by piracy of original content. All stakeholders government bodies, industry players and consumers need to come together to tackle this issue. The report said that such content mostly attracts people in the age group of 19 to 34 years.
