Online Piracy has become a global issue with the massive growth of the internet. With nearly ¼ of internet bandwidth being used for piracy, people are finding new ways of pirating material. The issue doesn’t seem too severe to those who are benefiting from pirating but to businesses, which are losing money, this is a big issue. Businesses are losing millions of dollars to internet piracy. It is estimated that the software industry is losing 20.6% of their income, the music industry is losing 18.5% of their income and the music industry is losing 65.5% of their income from piracy yearly.
Below is information about the current situation as well as potential solutions for the future:
Question and Answer:
1. How big of a problem is online piracy?
Online piracy has developed into a massive international problem. Charts like the one below show that if the people who pirate files bought them instead, the software, music, and motion picture industries could bring in significantly more income.