Piracy Cost The UK Music Industry £1bn In 2010

By SpiderGroup

15 Dec 2010

The British Record Music Industry have reported that pirated tacks accounted for three-quarters of all music downloads this year and has cost the industry close to £1billion.

According to The Register, who originally wrote an article on the report and quoted by TechWatch, illegal download music doesn’t necessarily equate to lost sales fo""r the industry. The BPI employs a substitution ration of about 4:5:1; this in realistic terms means that the financial loss is more approximately £220million (according to Jupiter Research).

Sales of digital music are looking to peak over £160million for 2010 which is up 7% on last year and £150million.

The British Record Music Industry also took their time to urge Ofcom to push on with implementing the anti-piracy measured contained in the rushed-through Digital Economy Act – this is the three-strikes-and-you’re-out policy for illegal downloaders.

-Via TechWatch

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