Piracy's Effect on the Music Industry

The music industry is very insistent that file sharing is harming the industry in a large way. The music industry claims that the internet and peer-to-peer sharing is costing them millions and taking away the artists' profit. This is true. There is no getting around the fact that piracy of music does take away a lot of money from the industry. According to the RIAA there is $12.5 billion lost annually from the American economy due to people pirating music. This massive amount of money that the music industry loses cost thousands of jobs which can in turn really harm our already shaky economy.

You need to ask yourself why are people pirating? There are many reasons that people pirate music. One reason is that some music, like from our childhood, is no longer available commercially. Another reason is that the cost of music has elevated rather quickly and in our current economy many people cannot afford to spend much if any money purchasing music. The music industry makes it very hard for people to get music legally without the costs overpowering the music. If the music industry wasn't so stubborn maybe they could find a compromise to help everybody's problem. 

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