Los Angeles Mayor Antonio Villaraigosa and other local leaders were set to attend a news conference Friday regarding a regional economic group’s new study showing entertainment piracy cost area companies $5.2 billion in lost revenue and 106,000 jobs in 2005.
About $2.7 billion was pegged to film piracy and the balance attributed to piracy of music and other intellectual property.
A previous MPAA study put lost revenue from global film piracy at $18.2 billion in ‘05. Both the EDC and MPAA figures are based only on informed estimates, but officials said they help point to the magnitude of the problem.
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I lost 5 trillion dollars last year to piracy people downloaded my movie “my imaginary movie” over a billion times. Each one of those downloads cost me money I believe the tax payers should be liable to pay me back.