Trumpeted at a press conference featuring Los Angeles Mayor Antonio Villaraigosa and other local leaders, a regional economic group has unveiled a 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.
MPAA chairman and CEO Dan Glickman said the study, released Friday by the Los Angeles County Economic Development Corp., shows that piracy hurts more area businesses than just the movie studios.
"Motion picture piracy results in lost jobs and wages for middle-class American workers inside and outside of the movie industry," Glickman said.
A previous MPAA study put lost revenue from global film piracy at $18.2 billion in ‘05. 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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Why are people so gullible when dealing with a group that has allot to gain in making you believe in something you have to look at it critically. Is it really that plausible that the entertainment industry lost more money to piracy then they made from sales?
I work in the entertainment business in Los Angeles and this study is full of crap.
here’s a fix. dont pay the actors and CEOs as much and the middle class people wont suffer. the money is there they just need to re-distribute it without themselves so overly compensated.