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The economic loss caused by digital piracy before the year 2000 is estimated to be worth $265B and in 2004 it was found that 4% of box office receipts were lost. Both piracy and economic losses due to piracy are trending upwards. Lost revenues due to digital piracy were estimated to reach $5 billion by the end of 2005.
Tim O'Reilly is quoted as saying, "The losses due to piracy are far outweighed by the benefits of the free flow of information, which makes the world richer, and develops new markets for legitimate content ... Most of the people who are downloading unauthorized copies of O'Reilly books would never have paid us for them anyway." [158]
Piracy networks can be traced back to the mid-1980s, with infrastructure changes resulting from the Bell System breakup serving as a major catalyst. Video game trading circles began to emerge in the years following, with networks of computers, connected via modem to long-distance telephone lines, transmitting the contents of floppy discs. [ 2 ]
Piracy is an illegally copying of protected content that infringes on the owner's copyright, costing them a potential sale. Skip to main content. Sign in. Mail. 24/7 Help. For premium support ...
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The report said piracy is "causing considerable harm to EU businesses" and high economic losses have occurred in Argentina, China, Ecuador and India. It also informed Saudi Arabia has not "taken sufficient steps to stop the infringement" caused via BeoutQ, like other countries have, to minimize the extent of financial and economic loss. [97]
On its face, the r/piracy subreddit is an online forum for discussing the topic of digital piracy, but it can lead to the sharing of illegal content. Westend61/Getty Images