Music piracy undercuts growth of on-demand streaming services, WSJ reports.
Despite 86% of consumers listening to music via on-demand services offered by Spotify (SPOT), Apple (AAPL) and others, roughly 38% of them are still getting music through copyright-infringing methods, a rate that has remained consistent in recent years, the Wall Street Journal says, citing a report by the International Federation of the Phonographic Industry. Most of those pirating music, 32% of the general consumer population, use technology known as "stream ripping", which creates an audio file on a user's computer from a YouTube (GOOG, GOOGL) video or similar sources, typically enabling sites to earn advertising revenue without compensating artists or labels. [Reference Link]:[https://www.wsj.com/articles/music-piracy-remains-a-problem-in-the-spotify-era-1539118332]
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|Date:||Oct 10, 2018|
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