Effects of Illegal Downloading:
Piracy takes a huge toll on the many artists, songwriters, musicians, record label employees, and many other "artists" whose hard work and great talent make this thing we call music possible.
Music theft can take various forms, such as illegally downloading and uploading music not only from the internet but from your friends’ computers as well. Although oblivious to many, companies who build business based on the theft of music is also illegal. "Bootleg" music can be acquired on street corners, flea markets, and even retail stores. Piracy has hurt the economy in many ways, with thousands of layoffs, and putting songwriters out of work.
You might like to know that "piracy harms not only the owners of intellectual property but also U.S. consumers and taxpayers." In an analysis done by the Institute for Policy Innovation it is concluded that as a consequence to music piracy the economy loses $12.5 billion in economic losses annually. In this chain reaction 71,600 jobs are lost which also causes the U.S. government loses $422 million in tax revenues, which means that $291 million in personal income tax is gone.
In response to the piracy of music many approaches have been adopted by the Recording Industry Association of America (RIAA). They are working closely with investigators to develop ways in which they may be able to enforce the laws against piracy. The RIAA is also working on educating fans on the value of music and the legal ramifications that are associated with stealing music.
RIAA: "Our goal with all these anti-piracy efforts is to protect the ability of the recording industry to invest in new bands and new music and, in the digital space, to give legal online services a chance to flourish"
http://www.riaa.com/physicalpiracy.php
