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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]:[]

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Publication:The Fly
Date:Oct 10, 2018
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