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Thursday, October 04, 2007

$58 Billion Damage, 373,000 Jobs Lost in U.S. Due to Copyright Piracy

Pandemic theft of copyright-protected products, including motion pictures, video games, sound recordings as well as business and entertainment software, has cost the U.S. $58 billion in annual economic output and 373,375 jobs, according to a report released by the Institute for Policy Innovation (IPI).

The report, "The True Cost of Copyright Industry Piracy to the U.S. Economy," sheds light on the injuries from copyright piracy to the national economy as a whole, not just to U.S. copyright producers and industries.

Because of global and U.S.-based piracy of copyrighted material:

  • The U.S. economy loses $58 billion annually;
  • U.S. workers lose 373,375 jobs;
  • U.S. workers lose $16.3 billion in earnings annually, including $7.2 billion in earnings from workers in the copyright industry or "downstream" retail industries, and $9.1 billion in earnings by workers in other U.S. industries; and
  • The U.S. government loses at least $2.6 billion in tax revenues annually, including $1.8 billion in personal income tax and $800 million in lost corporate income and production taxes.
"As policy makers turn their attention to the competitiveness of the U.S. economy in the global marketplace, it is clear that the problem of copyright piracy should be afforded a prominent place on the policy agenda," says Stephen Siwek, author of the report and principal with Economists, Inc.

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