According to Digital TV Research, revenues lost to online video piracy will nearly double between 2016 and 2022 to $51.6 billion. The forecast, covering 138 countries, includes revenues lost to TV episodes and movies, but not to other sectors such as sports or pay TV.

Simon Murray, principal analyst at Digital TV Research, said: "Piracy will never be eradicated. However, it is not all bad news. Piracy growth rates will decelerate as more effective government action is taken and as the benefits of legal choices become more apparent. Legitimate revenues from OTT TV episodes and movies overtook online piracy losses as far back as 2013. The gap between the two measures is widening."

Asia Pacific is expected to become the largest region for online piracy in 2018, overtaking North America. Asia Pacific's piracy losses are expected to double between 2016 and 2022 to nearly $20 billion.