Infographic from True Kopimists
Media companies that deal in the trading of abstractions have the most to lose from online piracy. Or at least, that’s the assumption. But common sense would suggest that a movie like the Avengers, leaked a week before its release, would suffer a critical economic hit. Instead, it became the third highest grossing movie of all time, and a Forbes article states that even if every pirate that downloaded the movie had purchased a ticket box office revenues would have increased by just half of a percent.
Online piracy is one of the most divisive and least understood phenomena to erupt out of the creation of the internet. Businesses rail against what they perceive as theft. Ethicists debate the morality of file sharing. Lawyers pursue claims in the hundreds of thousands against grandmothers and students as courtrooms struggle to understand the efficacy of IP addresses in identifying responsibility. Intellectual property has suddenly become the most popular field of law, and there are now more patent lawyers that at any other point in history. But is it possible to truly sell or steal if there is an infinite supply? Business and law students are not just witnesses to this pivotal moment but will play a critical roll in how we answer this question and shape a future out of the fragments of a broken economic paradigm. Check out the infographic to learn more about piracy and how artists like comedian Louis C.K. are innovating even while they’re industry is falling all around them.