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Movie Piracy Cost Australian Network ‘Hundreds of Millions of Dollars’

Film television piracy and illegal downloads are partly to blame for Australian broadcaster Ten Network’s woes, according to Village Roadshow co-chief executive Graham Burke. From a report: He said piracy had cost Ten “hundreds of millions of dollars” in potential advertising revenue because of lower ratings resulting from pirated versions of films supplied by 21st Century Fox under an onerous output deal with the Hollywood studio. He said copies of Fox’s Leonardo DiCaprio movie The Revenant and The Peanuts Movie were stolen last year and shared illegally via a piracy website. “Piracy is a much bigger channel and an illicit economy than the three main commercial networks combined. It is ripping off viewers from legitimate, taxpaying enterprises,” Mr Burke said. “The product that Ten is buying from 21st Century Fox and is now arriving have been pirated out of sight.”

Read more of this story at Slashdot.

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