Hollywood studios report record revenues

May 5, 2005

Well, if you ever wondered if Hollywood was actually losing money to file sharing and other activities they deem wrong, then you should wonder no more. The way it looks, they're making money hand over fist.

Hollywoods claims of DVD copying and Pirating ruining them, or causing them major financial damage, appear to be falling on deaf ears with the amount of reported revenue they raked in last year.

Pirating,' on the other hand, is PR-speak for the completely unrelated criminal duplication of the physical CDs and DVDs the movie and record label cartels produce in their billions and which does indeed rob them of sales and earnings

Worldwide revenues from cinema tickets, videos and DVD sales, as well as television rights, reached a whopping $44.8bn (Â£24bn) last year, up 9% from 2003

To read more on Hollywoods financial gains, go to p2p.net and check out the story.

Source: Guardian Unlimited