Parks: US Video Piracy to rise from $9.1B in 2019, to $12.5B in 2024

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Source: Parks Associates

July 17, 2019

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Parks Associates has announced its report “360 Deep Dive: Account Sharing and Digital Piracy,” which forecasts that in 2019, OTT and pay-TV companies will see $9.1 billion in lost revenue due to piracy and account sharing, growing at a 38% CAGR to $12.5 billion in 2024. Parks’ press release states that “currently 27% of US broadband households engage in some form of piracy or account sharing.”

Why it matters

This situation underscores the need for video content owners and rights-holders to develop solutions for both the supply and the demand side.  Not only should piracy be detected and countermeasures applied, but also, video providers should embrace a sufficient range of business models to reduce consumer tendencies toward piracy in the first place.

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