The Intellectual Property Office of the Philippines said over the weekend it will intensify efforts to police the video industry to plug the estimated $781 million or P42.147 billion worth of revenue leakage last year.
Data showed that 2022 revenues from video streaming amounted to $419 million, or about P22.6 billion, with consumer subscription contributing 57 percent and net brand advertising, 43 percent.
“Our IP Rights Enforcement Office will strive to swiftly curb counterfeits and piracy in markets, especially with the draft rules on site blocking that we hope to put in place soon,” said IPOPHL director-general Rowel Barba.
A March 2023 report of Media Partners Asia showed the growth and monetization of online video lagged because of piracy. Easy access to pirated online video content inhibits the development of the premium video sector, including subscription video on demand and premium advertising-based video on demand, it said.
The research-based advisory firm reported a pervasive online video piracy, reaching 20 million users in 2022 or representing an alarming 53 percent of legal video industry/screen revenues.
“If online piracy is not brought under control, the illegal industrial activity could claim 31 million users by 2027 with annual leakage of $1 billion,” the report said.