India's film industry loses ₹224 billion to piracy

Piracy continues to harm India's film and entertainment industry, despite the growth of streaming services. A new report from EY and the Internet and Mobile Association of India reveals that piracy costs the sector a staggering ₹224 billion each year. Most of the losses come from pirated films, which account for ₹137 billion. Another ₹87 billion is lost to pirated content on streaming platforms. Streaming is the main source of piracy, with 63% of illegal content coming from it. Mobile apps, social media, and torrent sites also contribute to the problem. Experts believe that a lack of effective pricing strategies is a major issue. Many viewers find it inconvenient to access legal content, as films and shows are scattered across multiple platforms. This drives audiences to piracy. High-speed internet and the ease of sharing pirated content further exacerbate the situation. Though music piracy remains a concern, it has decreased significantly due to the rise of legal streaming options like YouTube and Spotify. These platforms offer easy access to music, making illegal downloads less attractive. In contrast, film piracy directly affects box office earnings, as pirated versions of films are often available online as soon as they are released. Filmmakers point to the high cost of multiple subscriptions as a barrier for viewers. Currently, people must pay for services like Netflix, Prime Video, and Hotstar separately, which is not feasible for all. Some experts believe that making video streaming more affordable may help reduce piracy over time. To combat this growing issue, experts are calling for stronger anti-piracy measures and joint efforts from both the government and private sector. They advocate for new policies, awareness programs, and innovative pricing strategies to protect the industry and curb piracy effectively.