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Unlicensed Music "Shared" Worldwide on P2P Networks in 2007

The value of unlicensed (in some cases known as pirated) music trafficked on P2P networks in 2007 was US$69 billion, according to new MultiMedia Intelligence research. This value should not be viewed as lost revenue, but rather the result of multiplying the number of unlicensed music tracks (not purchased) transferred over P2P networks globally by a fair market value per track.

A US$69 billion figure is staggering to contemplate, but it effectively illustrates the impact of piracy on the music industry," according to Rick Sizemore of MultiMedia Intelligence. "It is important to note that piracy has expanded well beyond music. Content owners of TV episodes and full length movies are seeing a growing impact. This is precisely why efforts from groups like the DCIA and those related to digital fingerprinting (e.g. MySpace and MTV) are vital to foster a 'safe' environment - one conducive to growth and maturation. With an ever burgeoning flow of content over the digital pipes, the need for efficient distribution becomes all the more vital and we would be remiss to think of P2P exclusively as a tool for pirates.

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Posted by | Mon, Nov 17, 2008 - 08:10 AM