- Music piracy is a way of people being able to get music online for free illegal. It is now easier for people to download music for free illegally, so more people are doing it.
- This means that the artists are losing money to these illegal downloads.
WHAT IS THE EFFECT OF PIRACY?
- Music piracy is killing sales growth and profits for the music industry.
- It is estimated that they lose $4.2 billion to piracy worldwide each year.
- The more people can get music for free, the less they will bother to buy, so they take from the music industry without putting any money back in.
- For artists, this means that they have to focus even more on touring and selling merchandise as it is hard for them to make money from the sale of their music.
- It is also harder for smaller artists to get signed as many labels don't want to take on the risk of signing a small act with an uncertain audience.
- In the UK market alone, the record industry lost £180m last year, and will lose more than £1bn by the end of 2013.
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