Global Value Of Digital Piracy Of Recorded Music Estimated At $17-40 Billion
The commercial value of recorded music digital piracy was estimated between $17 billion and $40 billion in 2008
In conjunction with the 6th Global Congress on Combating Counterfeiting and Piracy being held in Paris, the International Chamber of Commerce (ICC) released a new report on the global economic and social impacts of counterfeiting and piracy, estimated at US$1.7 trillion by 2015 and put 2.5 million jobs at risk each year.
More relevant to this publication though are the numbers released on the commercial value of digitally pirated music, movies and software (as opposed to actual business losses attributable to digital piracy), which the report estimates at $30 billion and $75 billion annually, with the share of recorded music digital piracy between $17 billion and $40 billion in 2008.
|Digital piracy of recorded music
||$17 billion - $40 billion|
|Digital piracy of recorded movies
||$10 billion - $16 billion|
|Digital piracy of software
||$1.5 billion - $19 billion|
||$28.5 billion - $75 billion
The situation is aggravted by the fact that while digital piracy typically accounts for between 6.5% and 12% of the total value of counterfeit and pirated products consumed, digital piracy for sectors such as digital music accounts for a substantially greater share of the total.
"Starting with the reported sales decline of $14.8 billion in 2008 [by the IFPI], if digital piracy could be responsible for 24% of this loss, then this suggests industry losses attributed to digital piracy equaled approximately $3.5 billion. Using the estimated displacement rates to derive an estimate of value implies a commercial value of unlicensed digital files available on line of $17 – $21 billion."
The report further notes that "digital piracy has continued to escalate despite considerable industry and consumer education initiatives, the availability of a wide variety of legal online services for consumers, lawsuits and other actions against the most visible file sharing sites."
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