Movie piracy costs industry, economy, says new report

Lost annual output to all U.S. industries as a result of movie piracy exceeds $20 billion, according to a recently released report from the Institute for Policy Innovation (IPI).

The report, “The True Cost of Motion Picture Piracy to the U.S. Economy,” was released Sept. 29 at the U.S. Chamber of Commerce’s third annual anti-piracy and counterfeiting summit.

Among the findings:

• 141,030 in new jobs lost to movie piracy;
• $5.5 billion in lost annual earnings among U.S workers;
• $837 million in lost annual tax revenue;
• $20.5 billion in lost annual output to all U.S. industries.

The research is available in its entirety from the IPI Web site: www.ipi.org.