So How Big the Online Piracy Is?
Piracy is a serious problem for all the world. It's been there since times immemorial and the subsequent mushrooming of torrent sites it's estimated to do more damage than ever before. The huge number of these sites can take anyone by surprise, and they are impossible to kill as thousands another sprout when one's banned.
To gauge the extent of piracy one needs statistics, and genuine piracy stats are notoriously hard to lay your hands on. According to a report, from 2011 that state intellectual property infringements kill 750,000 jobs every year and cost U.S. companies a whopping $200 billion in revenue! Subsequently, more figures have been released; each pegging estimated losses between $50-200 billion.
The good news is that the numbers are all wrong as none of these claims can be 'substantiated'. So, when exact quantification is unavailable, what one could do is try to estimate figures based on widely available web analytics data.
That would sure help the shape individual outlook and legal policies. The US has the Stop Online Piracy Act (SOPA) and Protect IP Act (PIPA) while India has the Indian Copyright Act of 1957 which states a software pirate can be jailed for a maximum of three years and fined to a maximum of Rs. 2,00,000.
At a time when record companies, movie studios, and software makers across the globe have declared piracy as their sworn enemy. However, Business Insider India sets out to have a closer look at this online behemoth that makes content creators shake in their shoes.