CreativeFuture reminds us that the creative industry, not piracy, is the true driver of the media business, the technology businesses that enables it, and of free speech itself; countering arguments heard from some quarters that piracy enables new business models and refuting claims that creative companies are ‘anti-technology luddites.’
Citing statistics from the Independent Film and Television Alliance (IFTA), CreativeFuture CEO Ruth Vitale wrote that of more than 500 US independent feature films – mostly made by independent producers and small businesses – nearly half cost less than $10 million to make and about three quarters cost less than $25 million. 87% were made by businesses that employ 10 people or fewer. Aggregate revenue from these projects were nearly $23 billion, producing tax revenue of more than $3 billion.
While COVID hammered this industry, reducing the number of independent productions by half and the associated revenue by more than that, citing MUSO data that piracy was up by 31% in the first quarter of 2020 and by 43% in April.
Read the original post via CreativeFuture (and join CreativeFuture for free)
Why it matters
CEO Vitale doubts that piracy will diminish just because the world is opening up again. “We are more tied to our screens than ever before, and our appetite for film and television content is insatiable,” she said. “Even if streaming piracy experiences a slight dip back to pre-pandemic levels, I believe this staggering problem will only continue to worsen.”
She notes that piracy impacts the individuals who work for these independent production companies, ranging from makeup artists and office managers to set designers and boom operators.