| Movie Piracy Costs Significant Losses
American Jobs, Earnings, Taxes and Output
Movie piracy hurts more than just Hollywood pocket books. Groundbreaking
research released by the Institute for Policy Innovation (IPI)
is the first to measure piracy’s cost to the overall economy.
The findings are astonishing:
141,030 jobs – new jobs lost
$5.5 billion – lost annual earnings among U.S workers
$837 million – lost annual tax revenue
$20.5 billion – lost annual output to all U.S. industries
“While the movie industry is clearly harmed by movie piracy,
the greater story is the harm to U.S. citizens,” said Bartlett
Cleland, Director of the IPI Center for Technology Freedom.
The IPI report, “The True Cost of Motion Picture Piracy
to the U.S. Economy,” was authored by Stephen E. Siwek,
principal with Economists, Inc.
According to Siwek, “As policymakers seek to maintain the
health and vitality of the U.S. economy and preserve our global
competitiveness, the importance of recognizing the real costs
of piracy and counterfeiting cannot be overstated.”
This analysis is the first in a series of intellectual property
papers examining the overall economic impact of copyright piracy
and patent infringement.
IPI’s report was released at a press conference held today
in conjunction with the U.S. Chamber of Commerce’s third
annual anti-piracy and counterfeiting summit.
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