Report: Only 5% music downloads in 2008 were legal | Startup Meme - Technology Startup and Latest Tech News

Our comments and trackback policy You Link We Follow, You Comment We Promote

Jan 17 2009

Report: Only 5% music downloads in 2008 were legal

Shoaib Hashmi 

Music-Piracy

According to IFPI’s Digital Music Report 2009, only 5% music downloads in 2008 were legal which means that 95% of the digital music downloads were illegal. The digital music downloads last year earned $3.7 billion. This shows that a huge amount is not being paid to the rightful owner. According to the report:

Estimates on the economic and employment damage caused by piracy vary. In the UK, Jupiter Research valued the loss at £180 million in 2008, with a cumulative loss to the industry of £1.1 billion by 2012 if nothing is done to address the problem. Europe Economics estimated the potential employment losses from piracy to the music, film and TV sectors at 30,000 jobs in the UK (December 2008).

  • Facebook
  • Digg
  • Reddit
  • del.icio.us
  • StumbleUpon
  • Twitter
  • E-mail this story to a friend!
blog comments powered by Disqus