Piracy In The Music Industry
Introduction
The piracy of copyright protected digital goods is a large and growing problem in the music, computer software, videogame and film industries. Digital piracy includes the purchase of counterfeit products at a discount to the price of the copyrighted product, and illegal file sharing of copyright material over peer-to-peer computer networks. 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......
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