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WHAT'S THE MEANING?
Yify.co and similar sites with the names: yts.com, yify.tv, and others, are websites that offer torrent files of movies and series. The names are based on the sites' main creator, Yiftach Swery, who was involved in a case against movie studios for copyright infringement. The case, handled by a New Zealand court, was reported by Sunday Star Times.
DID YOU KNOW?
Did you know that modern piracy, the consumption of illegally retrieved digital content, might cost the TV and movie industry more than $52 billion in 2022? In a study by Digital TV Research, the industry will lose more than $52billion of revenues because of internet piracy, a mile-high jump from just $6.7 billion in 2010 and $31.8 billion in 2017. According to the study, torrent and streaming sites like The Pirate Bay, Kickass Torrents, and Yify.co is expected to cost the US entertainment business $11.6 billion, followed by China's expected loss of $9.8 billion. India, one of the biggest movie producers in the world, is expected to suffer a $3.1 billion hit in 2022, while Brazil is projected to lose $1.1 billion to piracy. According to Artshub writer Brooke Boland, the real damage to the TV show and movie industry will be felt when small-time movie producers finally pull out from the business, costing thousands of people's jobs and opportunities.