Music piracy is the illegitimate copying or downloading of music without the permission of the recording artist, composer or recording company releasing the piece of music. Music piracy has a disastrous effect on songwriters, composers, audio engineers and everyone else involved in recording music, according to the RIAA. The Institute for Policy Innovation estimates a $12.5 billion annual loss to the U.S. economy due to piracy in music, with $2 billion in lost wages and 70,000 lost jobs(Credit, 2017).
People want to listen to music for free which is unfair on musicians. The music industry is a business whose success depends on reliability in the legal environment and on copyright law. This is a sustained and ever-changing challenge. Digital piracy is a massive single threat to the development of the licensed music sector and to investment in artists and it undermines the licensed music business across many forms and channels – unlicensed streaming websites, peer-to-peer (P2P) file-sharing networks, unlicensed streaming and stream ripping and mobile applications(IFPI, 2016).
Some of the artists are not concerned with the illegal downloading of music. Dave Grohl(Foo Fighters) and Neil Young feel that piracy is the new radio and that’s how music gets around(Terry, 2012). Music piracy has its own pros and cons such as free downloading promotes artists and can lead to later purchases. Legally purchasing music is expensive as well so young people feel it’s easier to download music for free. But stealing music from the artists is like an insult to them and harmful for them. Artists might feel betrayed by their fans and think that their talent is not being appreciated. Piracy affects economy not only for artists but also for the recording labels who invest in them. Piracy rates are declining though due to the rise of legal alternatives such as Spotify.
Credit. (2017). What is music piracy? Retrieved February 23, 2017, from technology, https://www.reference.com/technology/music-piracy-cfe9a043f45fbcd7#
IFPI. (2016). Music piracy — IFPI — representing the recording industry worldwide. Retrieved February 23, 2017, from http://www.ifpi.org/music-piracy.php
Terry. (2012, February 24). Musicians speak out on music piracy. Retrieved February 23, 2017, from https://www.upvenue.com/article/1590-musician-stances-on-music-piracy.html