The Economics of Piracy

Some evidence that the film and music industries are not much impacted by internet piracy. Do keep in mind that even if you know that 100 of your movies were pirated, it does not follow that you lost 100 times the price. You may have actually gained from the indirect publicity and promotion by those who enjoyed the pirated films. It is complicated.

(…) In short, piracy is certainly one problem in a world filled with problems. But politicians and journalists seem to have been persuaded to take it largely on faith that it’s a uniquely dire and pressing problem that demands dramatic remedies with little time for deliberation. On the data available so far, though, reports of the death of the industry seem much exaggerated.

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