The music industry experienced one of the rockiest transitions into the digital age of almost any business over 15 years ago, as it didn’t lead the charge. The biggest companies working in music were more than happy to continue to allow people to purchase albums and CD singles, overlooking the potential that the internet could have offered for the field.
The business only truly got its act together (at least somewhat) when the public latched onto piracy websites like Limewire and Napster and began downloading anything and everything they could want for free. That kicked off a decade-plus-long slump in the industry that has only just recently been reversed thanks to streaming platforms taking over the world.
Read Article: Forbes
While the music industry’s largely grown silent about it, piracy is still the go-to music consumption method for millions of people.
According to the International Federation of the Phonographic Industry, about 20 percent of internet users accessed pirated content in 2014.
That tracks with the findings of a study by the research firm MusicWatch, which found that 57 million people in the United States pirated songs last year, or about 20 percent of the country’s online users. Some of them are still pirating the old-school way, with 22 million people using peer-to-peer networks like BitTorrent.
But millions more have found increasingly modern means that are often better suited for mobile devices. For instance, ripping songs from streams on platforms like YouTube is now nearly as popular as downloading from a peer-to-peer platform.
Source: The Ringer
Music piracy has taken a small but noticeable bite out of potential profits for the recording industry throughout Europe, according to a new study by the European Union Intellectual Property Office. The report places an estimate on lost music sales in 19 EU states as a result of piracy in 2014, and comes up with a total of €170 million ($190 million), or 5.2 percent of all sales.
When broken down, that amounts to €113 million ($126 million) in lost digital sales and €57m ($63.5 million) in lost physical sales, the report finds. That’s the equivalent of 5.2 percent of the sector’s revenues from both physical and digital sales.