Online piracy of marketing content, especially streaming videos is causing massive losses to US markets. Ml and Big data tools could be just the answer to identify, track and bring down these rouge sites.
A recent report, IMPACTS OF DIGITAL VIDEO PIRACY ON THE U.S. ECONOMY, by David Blackburn, Jeffrey A. Eisenach, and David Harrison Jr., created in collaboration between NERA Economic Consulting, The Chamber’s Global Innovation Policy Center and The U.S. Chamber of Commerce,, paints a very sordid picture of the losses due to online video piracy in the US.
According to their research, more than 80% of piracy is attributable to streaming. Clearly, a large part of the benefits that streaming video could provide for a marketing strategy, is being drowned by digital piracy. The reports put the figure of revenue losses due to online piracy at least to the tune of $29.2 billion in the U.S. economy alone each year. Estimates say it could go as high as $71.0 billion annually, and then the revenue losses would range between 11% and 24%.
Adding to these staggering figures, there are other costs involved as well, in digital video piracy – a loss of between 230,000 and 560,000 jobs. This translates into between $47.5 billion and $115.3 billion in the reduced gross domestic product (GDP) each year.
An urgent solution needs to be found for this, and there could be a light on the horizon, in the form of smart machine learning tools that can curb these activities. A new product that can identify online hubs that host illegal streams, downloads, and all types of illegal content, is now coming to the market.
The new product uses Machine Learning and Big Data Processing, alongside Natural Language Processing (NLP) to identify these illegal hubs. The tool scans the web and collates a massive database of URLs, basis the ML algorithms that have the ability to identify online platforms that host illicit content.
Of course, the functionalities will include the ability to customize the detection of these portals as per the needs of the user- their industry, their target marketplace, social networks, and even languages. It needs to be very smartly configured to deliver these customizations, and then could be the first level of protection for the practice of piracy online.
With a new trend of people sidestepping search engines and reaching directly for pirated content portals, this might also not be a strong enough weapon to fight piracy, but at least with technology on their side, marketers have a fighting chance to make good their losses due to illegal streaming and online piracy of their precious content.