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Online Piracy; The Economic Effects Of The Music Industry

3423 words - 14 pages

The world phenomenon with technology has finally infiltrated into the recording industry. College students around the world are getting their favorite music songs and downloading them from the internet illegally. College students are the majority of the downloader's, but with the release of the MP3 player and the I-Pod just about anyone now a day goes and downloads music songs illegally. The recent phenomenon came about when college students were using a program called Napster to get their music from, but Napster was taken offline due to copyright infringement laws. Now Peer-2-Peer networks are now becoming the next big wave in the transfer of music. The problem with the downloading of music is the basis by the recording industry of saying that it is copyright infringement and that music downloader's are stealing music. The law on online piracy was unknown thing until Napster came about then the United States Congress passed what is called The Millennium Digital Act. All of this has affect on the economic profits of the recording industry. I will look into whether or not all of these aspects really do affect economic profits of recording industry and their artists.The MP3 player was released for consumers to get around with a light weight device that can play music. This device usually could hold only hold up to about 100 songs depending what size of hard drive you got. As a means of profit and to get more people into the digital age Apple released the I-Pod into the mainstream market and consumers were buying them like they were candy. The I-Pod is a device that can hold and store music files of people's favorite artists to listen to them whenever they wanted to. This device can hold up to 10,000 songs. The deal with the I-Pod is that consumers were supposed to buy songs legally on Apples website called iTunes. They were to charge for each song download or album downloaded. Songs can range from $0.99 to $2.99 for an individual song to be downloaded. Albums can range from $9.99 to $13.99 to download. The premise of the I-Pod was for people to stop illegally downloading music and for the recording industry to start making money on individual who would rather download songs than go out and buying the whole album of an artist. The I-Pod has become very successful economically to the recording industry. They still are trying to get people from downloading illegally to paying for what they download.The main way that students and individuals get their music from is what is called a Peer-to-Peer (P2P) Network. These are file sharing programs that allow people to send and receive files from one another. The major P2P networks are Kazaa and Bit Torrent. Kazaa took over to mainstream society when Napster was took offline. It has the same premise of the downloading and sharing music files. All individuals have to do is install the program and run a search for their favorite song and a list comes up with the users that are sharing the file and are ready for...

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