Philippines Film Industry Losses to Piracy in 2011

The Director General of the Film Academy of the Philippines reported that movie piracy causes losses of $95 Million (4 Billion Philippine Peso) to the country’s film industry in 2011.

This amount is higher than the $69 Million (3 Billion Pesos) lost in 2010.

Source:  Girlie Linao, “Philippine film industry struggles to get out of slump,” Bikya Masr, February 26, 2012.