Wednesday, June 18, 2008

Piracy and Digital Music Business

Piracy Denting UK Music Industry

If you thought that India is the only one country with high rates of Music Piracy, it will be an eye opener for you. 50% of the Music in the I-Pods of 96% of British 18-24 years old is pirated. In the case of 14-17 years old it is 61%, Times reported.

With the cost of legal downloads becoming friendly these figures are more awe inspiring. This shows how P2P sites and Buddy sharing are eating away the profits of Music Labels.

That made me start thinking what makes people who can afford expensive I-Pods use bootlegged Music.The urge to save money, simple convenience of Bulk Copying or lack of values. Times have not dwelled on these causes. Well statistics speak of necessary measures required for the Music labels to encourage legal downloading or sales.

One way could be prepackaged Music at a small incremental fees included with I-Pod. Another way could be to distribute good Music with DVD’s priced at an attractive price point which makes piracy redundant.

Indian Cinema is trying hard to fight Piracy by adopting the above methods. Movies which fail to pick up in the theatres and old classics are sold in DVD’s priced at Rs 34-38 and a set of 2 CD’s for Rs. 24. This hardly covers the cost of CD’s not to speak of the replacement warranty if defect is found and posh locations like Planet M and Big Bazaar in Malls where these are available.

May be UK companies will take note and come out with some measures to curb the Menace of Piracy.

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