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Piracy In The Music Industry

Piracy in the Music Industry

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Title: Piracy in the Music Industry

Essay Details:

Subject: Miscellaneous

Author: Rita C

Date: October 2, 2016

Level: University

Grade:

Length: 17 / 4987

Essay text:

The International Federation of the Phonographic Industry (IFPI) claims that about 34% of all recorded music products sold worldwide in 2004 were pirated copies and that piracy costs the industry over $4.6 billion per annum. Not included in these figures is the cost of file sharing over peer-to-peer networks, which the IFPI blames for a fall in global music sales of some 22% between 1999 and 2004. According to an OECD study, 2.6 billion songs are downloaded every month in over 90% of cases the files swapped infringe on copyright protections. One estimate suggests that online file sharing reduced CD sales between 2000 and 2003 by as much as 30%, or about $ 4 billion per annum...

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