Music Swapping

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Global music sales have been on the downtrend in the recent years. Interestingly, the number of music listeners has been on the rise, thereby creating an unrealistic landscape of the events that transpire in the sector. The music industry has undergone several restructuring initiatives, which have made it redundant in the past decade. The swapping of music files in the sector has created an ideal avenue upon which music piracy now thrives. Reliable statistics indicates that over 30 billion songs were illegally downloaded in the periods 2004-2009 (Hammond 387). Illegal downloads of music files have had an adverse impact on the performance of the industry. A majority of those in the industry decry massive losses, thereby leading to layoffs. Similarly, artists are discouraged by such trends because they do not gain what is rightfully theirs. To this effect, if the authorities do not find a reliable way to mitigate music swapping, the music industry will soon be on the downward trend. A major effect of music swapping is financial losses. Recording Industry Association of America (RIAA) reports indicate that music sales in the U.S have dropped by a whopping 47% since 1999. The ease of access of music files has led to an economic loss of up to $12.5 billion (Hammond 390). Several lawsuits have been filed by major players in the industry as an ideal way to deter criminals from further downloading music without the consent of the artists. Unfortunately, such lawsuits are also expensive to maintain, which makes the activity a vicious cycle for hardworking artists Singers and bands form a major component of the face of the music industry. However, what a majority of the people

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