Thursday May 26, 2016

Music Piracy Triggers Significant Losses

When I saw the headline I thought to myself "uh-oh." But then, after reading the article, the losses in the UK are roughly only 5%. That is waaay lower than I thought it would be. The MPAA - RIAA spend more than that on lawyers and unsuccessfully trying to track down and sue pirates.

New research published by the European Union Intellectual Property Office shows that piracy hurts both digital and physical music sales. In EU countries the total losses are roughly 5% of yearly revenues, which equals آ€170 million. In addition, piracy also triggers secondary losses for governments and the public sector.