ABS-CBN suffers loss of up to ₱400 million due to piracy

ABS-CBN suffers loss of up to ₱400 million due to piracy

- ABS-CBN Corp. suffered a loss of ₱300 to 400 million in revenue because of unauthorized use and sharing of content

- Head of security and data protection officer Jay Gomez said that "The Hows of Us" and "Hello, Love, Goodbye" could have reached ₱1 billion if not for piracy

- He also shared the safety measures that the entertainment company conducts to avoid piracy

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ABS-CBN Corporation suffered a loss of up to ₱400 million because of piracy.

KAMI learned that the entertainment and media company lost a large amount of revenue due to unauthorized content usage and sharing of movies and other programs.

According to the head of security and data protection officer Jay Gomez, some of the highest-grossing Filipino films like "The Hows of Us" starring Kathryn Bernardo and Daniel Padilla and "Hello, Love, Goodbye" featuring Alden Richards and Kathryn could have reached more than ₱1 billion if not for piracy.

Because of great developments in technology, piracy became more rampant nowadays. People have more access to different contents, some would even resort to illegal means. He even noted that Facebook claimed the top spot where individuals share pirated links to other users.

"Ten years ago, social media was not that prevalent. Second, data. There’s also the advent of smartphones"

Gomez also shared in the interview that ABS-CBN conducts safety measurements where they put watermarks on their contents to avoid piracy.

"Our rule is that we want fewer copies as much as possible"

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ABS-CBN Corporation is a Filipino media and entertainment group. It is the Philippines' largest entertainment and media conglomerate in terms of revenue, operating income, net income, assets, equity, market capitalization, and the number of employees.

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Source: Kami.com.ph

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