British record labels lost the equivalent of £650m to illegal computer downloads over the last two years, according to the music industry’s trade body.
The British Phonographic Industry said record labels lost £376m last year – up nearly £100m on the £278m they lost the year before – in the music business’s first attempt to quantify the financial cost of illegal downloads.
A two-year study by research group TNS showed that music fans would have spent £1.5bn on recorded music between 2002-2004, but because of downloads spent only £858m, according to the BPI.
Read the story @ Guardian
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