Piracy Curse: Rs. 22,400 Cr Loss Shocks Industry!

A report by the Internet and Mobile Association of India revealed that the Indian entertainment industry lost Rs. 22,400 crore in 2023 because of piracy. There is an urgent need for better rules and teamwork to fight piracy.

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The losses from piracy included 13,700 crore from movies shown in theatres and 8,700 crore from OTT platforms. Additionally, the government could lose up to 4,300 crore in GST from these activities.

Industry experts note that digital entertainment is growing rapidly, with predictions saying it could reach 14,600 crore by 2026. However, piracy threatens this growth, so the government, industry, and consumers must unite against it.

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Viewers said they turn to piracy mainly due to high subscription fees, difficulty in finding content, and the hassle of managing multiple subscriptions.

The report also showed that piracy is more common among young people aged 19 to 34, with women preferring OTT shows and men favoring classic films.

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Interestingly, 64% of those who use pirated content would switch to legal options if they were free, even if there were ads. Moreover, about 70% of people who use pirated content do not want to pay for any subscriptions.

The report also indicated that piracy is more widespread in Tier II cities compared to Tier I cities.