According to a report by the International Federation of the Phonographic Industry (IFPI), online piracy has resulted in losses of over $29 billion for the music industry alone. Similarly, a report by the Motion Picture Association of America (MPAA) estimated that the movie industry lost over $40 billion in revenue due to piracy in 2020.
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Streaming services, such as Netflix and Spotify, have already shown that it is possible to provide high-quality, affordable content to consumers while also ensuring that creators are fairly compensated. However, the challenge of combating piracy and protecting intellectual property rights remains a significant one. According to a report by the International Federation