I read today that a survey reveals that 95% of all downloaded music files from the internet are done illegally.
The global music trade body said this is its biggest challenge as artists and record companies miss out on payments. I will be first to admit that I have downloaded certain albums in the past but I have also put a fair few dollars into the ITunes Store.
The IFPI, which represents 1,400 companies in 72 countries, estimated more than 40 billion music files were illegally shared in 2008.
There were 1.4 billion single tracks legally downloaded in 2008, with the top-selling digital single, Lil Wayne’s Lollipop, selling 9.1 million copies.
The report revealed that the digital music business has grown steadily during the past six years.
In 2008, it grew by an estimated 25% and is now worth $3.7bn (£2.5bn)
Music fans in the UK downloaded 110 million single tracks in 2008 and bought 10.3 million digital albums – accounting for 7.7% of the market.
John Kennedy, chairman and chief executive of IFPI, said the industry had changed its approach to doing business.
He said: “There is a momentous debate going on about the environment on which our business, and all the people working in it, depends.
“Governments are beginning to accept that, in the debate over ‘free content’ and engaging ISPs in protecting intellectual property rights, doing nothing is not an option if there is to be a future for commercial digital content.”
Jim Killock, executive director of the Open Rights Group, said: “We are worried by the recording industry’s desire to clamp down on illicit file sharers.
“We need to see how much better these companies do by getting their services right before governments start pushing drastic and draconian laws forward.”
He added: “Growing online sales show the recording industry can win against illicit file sharing.
“If companies go further and offer the same sort of experience as P2P then they will win new revenues, and reduce copyright infringement, which we would welcome.”
It is an interesting argument, I pity the artists who are not receiving money for their hard work, but I feel that record companies make a ludicrous amount of money from the public.
Opinions?