News

Stats Speaking

iTunes users may not be pleased to learn of the new pricing policy that may cost customers more. The now-universal price of 99 cents per track will be replaced with the prices of 69 cents, 99 cents, and $1.29. Songs by artists with greater popularity will end up costing more, meaning consumers who do not pirate music and purchase it legally may end up paying more for popular songs. This could increase the level of piracy, as some users may no longer be willing to purchase music legally at an increased price.

Here are some statistics about music piracy:

Dollars the economy loses annually due to global music piracy: 12.5 billion

United States jobs lost due to piracy: 12,060

Dollars of personal income tax lost: 291 million

Dollars lost in tax revenue: 422 million

Dollars lost in corporate income and production taxes: 131 million

Source: http://www.riaa.com/physicalpiracy.php