Building on NetNames' 'Counting the cost of counterfeiting' report, 'The risks of the online counterfeit economy' looks the state of play in online counterfeiting, which makes it readily apparent that no brand can afford to underestimate the sophistication of the fraudsters now exploiting the digital world for their own ends. NetNames has commissioned a detailed investigation of the issues by Cebr, the independent economics and business research consultancy, and has brought together multiple studies from around the world. We examine how the conjunction of counterfeiting and digital is impacting the most popular consumer goods – and how brands can fight back.
As a society, we can no longer shrug off content theft as the isolated activity of high school and college students who want to watch a movie or listen to music for free. Recent reports, this one by NetNames and one earlier this year by MediaLink, lay bare the truth that content theft is big business, raking in hundreds of millions of dollars a year – essentially bleeding the Internet for profit while making it less attractive for generations to come.
More companies than last year now see the internet as a profitable way of making sales, compared to traditional methods. Unsurprisingly, perhaps, it is the more e-commerce mature businesses, like the retail/wholesale companies, that are particularly impressed with the internet as a selling tool.