New Delhi :The Indian entertainment segment has suffered huge losses last year. A report has revealed that in the year 2023, this sector has suffered a loss of about Rs 22,400 crore due to theft of original content i.e. piracy. This information has been given in the report released by IAMAI on Wednesday.
'The Robb Report' by EY and the Internet and Mobile Association of India (IAMAI) also advocates stronger regulation and collaborative efforts to effectively reduce the risk of original content theft i.e. piracy. According to the report, 51 percent of media consumers in India get original content from illegal sources i.e. pirated. Maximum 63 percent of this is being done through online platforms.
Earning from content piracy
“Rs 22,400 crore expected to be earned through piracy of original content in India in 2023,” it said. “It ranked fourth in the segment-wise revenue generated by India’s media and entertainment industry.”
Disadvantages of GST
The report said, “Out of this, Rs 13,700 crore was obtained from content made illegally in cinema halls, while Rs 8,700 crore was obtained from content on OTT platforms.” It is estimated that this has resulted in a potential loss of up to Rs 4,300 crore in Goods and Services Tax (GST).
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violation of rights
Original content theft i.e. 'piracy' refers to the unauthorized copying, distribution or use of someone's copyrighted content. 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 content creator 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.
Attracts people of this age group
“The rapid growth of digital entertainment in India cannot be denied,” he said. The film entertainment business is expected to reach Rs 14,600 crore by 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.
(with agency input)
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