Illegal downloading is causing billions of dollars in financial loses to the music industry every year. "In the decade since Napster emerged, music sales in the U.S. have dropped 47 percent, from $14.6 billion to $7.7 billion. From 2004 through 2009 alone, approximately 30 billion songs were illegally downloaded on file-sharing networks” ("Students"). In 1999, Napster hit the scene with a peer-to-peer file sharing application that transformed the world. Within a year, millions of people were trading songs from a simple download.
Web. 22 Jan. 2011. Bhattacharjee, Sudip, et al. “Re-Tuning the Music Industry—Can They Re-Attain Business Resonance?” Communications of the ACM 52.6 (2009): 136-140. Academic Search Premier.
The commercial value of all that unlicensed software totalled more than $51 billion.” (Business Software Alliance) They also said that the impact of software piracy goes beyond the revenues lost to the software industry. Local software distributors are hurt and cannot create jobs, and they also cannot generate tax revenues for governments. From this study, “The Economic Benefits of Reducing Software Piracy” documents were created. Their main findings are as follows: • “Reducing the piracy rate for PC software by 10 percentage points — 2.5 points per year for four years — would create $142 billion in new economic activity while adding nearly 500,000 new high-tech jobs and generating roughly $32 billion in new tax revenues by 2013. • On average, more than 80 percent of the benefits of reducing PC software piracy accrue to local economies — and in some cases it is more than 90 percent.
Travis-Chin, a music director with APM Music, said in November 2007 that, "U.S. copyright laws exist to protect that idea of fair compensation for works that are created." Today, Napster is a website used to download legal music through a subscription, or paying a fee per song. Unfortunately, illegal music downloading is still running rampant, and is causing the destruction of the music industry as a whole. In fact, sound recording piracy cost the U.S. economy $12.5 billion in total output. It cost 71,060 U.S. jobs including retail, $2.7 billion in workers income, and $422 million in tax revenue annually (Siwek).
The Growing Problem of Music Piracy At the turn of the millenium, the music industry has been faced with an unforeseen phenomenon that has affected its very foundation - mass scale music piracy. The decline of CD sales in the past three years have been blamed on the availability of songs that can be downloaded from Internet sites and service providers like Napster, KaZaA and Morpheus free of charge. Today the issue of intellectual copyright infringement in music has been taken more seriously than ever before, as large record labels and companies like Sony and EMI struggle to maintain healthy album sales in the face of online music piracy. In addition, music piracy affects more than just the corporate world - it affects the very artists who create music and receive no compensation for their efforts. In fact ?many high-profile and buzz artists, including Eminem, Oasis and most recently 50 Cent, have seen their upcoming albums undercut by file-sharing online before their scheduled releases, prompting record labels to move up street dates to avoid losing album sales.?
“Consumer Protection From Unfair Trading Regulations 2008 - What Constitutes A Commercial Practice?.” Journal Of Criminal Law. 77.5 (2013): 365-370. Academic Search Complete. Web. 28 Nov. 2013.
So that, the level on each part including production, marketing, man... ... middle of paper ... ...?, The Photography Show 5th December [online]. Available at: http://www.techradar.com/news/world-of-tech/internet/was-ebay-buying-skype-the-worst-ever-tech-deal-654767 . Accessed at 27/02/2014. 21) Robens.C(2007), Consumer perceptons on the incorporation of established brands – The acquisition of Body Shop by L’Oreal, 26th May [online].
Retrieved from http://dictionary.reference.com/browse/piracy Upshaw, D., & Babin, L. A. (2010). Music downloading: Competing against online piracy. International Journal of Business & Public Administration, 7(1), 14-26. Retrieved from EBSCOhost Zimerman, M. (2011).
A single scam can destroy a company, devastate families by wiping out their life savings, or cost investors billions of dollars.” In today’s economic decline, the number of embezzlement cases in small businesses has risen drastically. Bressler (2009) states that “Embezzlement may perhaps be the most serious crime impacting business, in that many times the crime goes undetected for years. As so many instances of embezzlement go unreported to police, experts can only estimate the extent of embezzling. Embezzlement may cost companies as much as $90 billion each year.” The current trend of economic decline has shown an increase in the number of arrests made for embezzlement. The following data shows that increase.
The roles are performer, personal manager, a talent agent, promoter and a venue operator. The internet has completely changed the perspective of the music industry. Businessweek.com says that the impact the internet makes on the music industry is that sales has dropped for the music’s industry from 14 billion dollars to 10 billion dollars. The information superhighway changed the whole perspective of the landscape by completely breaking down the distribution system already put in place. Intellectual property is the most questioned part of the recent changes in the digital age involving the music industry.