Fighting Back Against Piracy: The ₹22,400 Crore Challenge for India's Entertainment Industry
51% of media consumers in our country access content from pirated sources.
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Piracy is plaguing the Indian entertainment industry, says The Rob Report, jointly prepared by EY and the Internet and Mobile Association of India (IAMAI).
The report states that the entertainment industry will incur a huge loss of ₹22,400 crore in 2023 due to piracy. It suggests that strict regulations should be implemented to effectively curb this issue.
According to the report:
- 51% of media consumers in our country access content from pirated sources, with streaming services accounting for 63% of this.
- The size of the piracy economy in 2023 is estimated at ₹22,400 crore, ranking fourth in the revenue segment of the Indian media and entertainment industry.
How Piracy Works
Piracy involves the unauthorised copying, distribution, and use of intellectual property material such as songs, movies, and software.
It should be considered theft and is a violation of the rights of content creators, leading to significant financial losses for them.
Why Piracy Persists
Viewers often turn to pirated content due to high subscription fees, the non-availability of desired content, and difficulties in managing multiple subscriptions.
Potential Changes
- Piracy is particularly prevalent among the younger audience aged 19-34. Among this group, women tend to prefer OTT shows, while men favor classic films.
- Interestingly, 64% of those who access pirated content are willing to switch to authorised channels if offered for free, despite potential ad interruptions.
This indicates that content providers may need to rethink their pricing models and strategies. Furthermore, 70% of users of pirated content stated they are not interested in any OTT subscriptions.
A Collective Fight Against Piracy
IAMAI Digital Entertainment Committee Chairman Rohit Jain emphasised the importance of a collective effort against piracy.
It is estimated that digital entertainment in our country is growing rapidly, with filmed entertainment expected to reach ₹14,600 crore by 2026.
Stakeholders, government agencies, and the industry must work together to combat piracy effectively.
