Record labels count cost of music piracy

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Record labels count cost of music piracy

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.

Read the complete story. (Guardian)