Illegal Streaming Costs UK Economy Over £1.3 Billion Annually
A new report by WPI Economics estimates that illegal streaming costs the UK economy over £1.35 billion ($1.58bn) annually, equivalent to around 10,400 fewer jobs.
The report, commissioned by BeStreamWise, a cross-industry initiative aimed at raising awareness of the dangers of illegal streaming, also reveals that pirated content deprives the Exchequer of £366 million in tax revenues each year.
This lost revenue translates into reduced investment in new productions, talent, and opportunities for the UK's creative industry, which employs millions of people across broadcasting, media production, advertising, publishing, retail, and other connected sectors.
According to the report, the impact of illegal streaming goes beyond lost revenue. Broadcasters' income is regularly reinvested into new films and TV shows, supporting independent production companies and jobs across the country.