According to a report released today by the Dallas, TX-based Institute for Policy Innovation (IPI), rampant global piracy of recorded music has cost the U.S. $12.5 billion in economic output and 71,060 jobs annually.
The report, “The True Cost of Sound Recording Piracy to the U.S. Economy,” is the first of its kind to estimate the impact of sound recording piracy not just on the recording industry, but also on the
Because of global and U.S.-based piracy of sound recordings,
The
“Piracy harms not only the owners of intellectual property but also U.S. consumers and taxpayers,” says Stephen E. Siwek, author of the report and principal with Economists, Inc. “Moreover, the impact of music piracy appears to be intensifying.”
The report urges policy makers to “realize the threat of global piracy and recognize that intellectual property products, such as sound recordings, are the most important growth drivers in the
The study is the second in a series of intellectual property papers examining the overall economic impact of copyright piracy and patent infringement. IPI will be publishing an analysis of the combined copyright industries (movies, music, software and video games) in a forthcoming study. For more information, go to www.ipi.org.
SONG REVENUE: CALM BEFORE THE STORM
J. Cole has his moment; Future-Metro have another big payday. (4/19a)
WARNER CHAPPELL ROPES IN RED CLAY STRAYS
Another big get for Guy and Carianne (4/19a)
THE COUNT: COACHELLA, FROM THE COUCH
The coziest way to experience the fest (4/19a)
| ||
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
|