A think tank has expressed full support on the proposed revision of the Intellectual Property Code to help crack down on piracy as its prevalence in the country has adversely affected the economy and creative industry.

In a statement posted on social media, Stratbase ADR Institute said that the 27-year-old law needs a review, as the continued piracy of creative content has brought ‘great demoralization’ among local creatives, which enables the proliferation of scammers and fraudsters.

"Online piracy disrupts the marketplace of creative works because it allows the use of illegal means to benefit from the work of others. It causes great demoralization, on top of financial loss, to those who invest not only their resources but also their hard work and passion in what they do," Stratbase said.

According to the Philippine Statistics Authority (PSA), piracy takes away around 7.1 percent of the country's gross domestic product.

This results in foregone revenue for the country and loss of livelihood, and it even threatens to inflict malware on devices consuming pirated content, which can be a gateway for scams.

The Philippines currently does not have a legislative mandate to block sites with pirated content. The Intellectual Property Office of the Philippines (IPOPHL), the National Telecommunications Commission (NTC), and internet service providers are only teaming up to put up stop gap measures to block sites with pirated content.

In 2022, the Philippines lost around $700 million due to the piracy of Filipino made TV shows and movies, as the country has been named as one of the top consumers of pirated content in Asia, according to a YouGov 2022 Piracy Landscape Survey.

IPOPHL director general Rowel Barba said that the Philippines will have around $1 billion in revenue leakage in 2027 if concerns regarding online piracy continue.

The agency also said that revising the 27-year-old IP code and mandating authorities to disable access to online sites infringing copyrighted materials will be much welcomed, saying that it has been advocating the amendment and is ready to implement it once passed.

Stratbase also said that revising the law will help empower concerned government agencies to go after suspicious sites and shut them down, minus the extra steps needed in the first place.

"Online criminals and intellectual property thieves have gotten away with many things in the past. These people unjustly enrich themselves by profiting from the work and resources and that rightfully belong to others. They must be stopped now," it added.

IP Code revision to fight piracy also gets another backing as Senate Chair on Committee on Trade, Commerce, and Entrepreneurship, Senator Mark Villar led a public hearing of the amendment to the Intellectual Property Code, particularly on giving IPOPHL with additional powers on Tuesday.

“The Philippine digital economy is valued at 17 billion dollars in 2021 and is projected to expand to 40 billion dollars by 2025. This manifests the changing economic landscape leaning towards digital products and services. We need to ensure that our laws remain on par with the dynamic changes of the digital ecosystem,” said the lawmaker.

He added that the passage of Senate Bills 2150 and 2385 would solve issues on online piracy, once enacted into law, which is currently under the Senate.