“From the threat and eventual reality of a writer’s strike to the global impact of film theft to concerns over the economy, the film industry faced significant challenges in 2007,” stated Dan Glickman, Chairman and CEO of the MPAA. “But, ultimately, we got our Hollywood ending. Once again, diverse, quality films and the timeless allure of the movie house proved a winning combination with consumers around the world.”
According to recent studies by the Institute for Public Innovation, movie piracy costs the US economy $20.5 billion annually including revenue loss and “related measures of economic performance." The study goes as far as to say that the movie industry could have added 45,000 new jobs had it not been for piracy. Funny how BO sales can grow at a steady pace despite the fact that the economy is seeing a "$20.5 billion USD annual loss" right?