"Hollywood's major movie studios lost $6.1 billion in revenues in 2005 to illegal videos, DVDs and Internet downloads, which is about 75 percent higher than previous estimates, the studios' representative said. In a study released late on Tuesday, the Motion Picture Association of America (MPAA), which represents the major studios in government affairs, said the study is the first to measure losses from Web downloading. The study showed piracy in Asia is less a problem than in North America and Europe." Reuters reports.
By Indiewire | Indiewire May 3, 2006 at 7:58AM