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Pirate recordings- Only the sound Counterfeit recordings- remixing Full song without permission/rerecording with a counterfeit label Bootleg recordings (or underground recordings) -of live concerts or musical broadcasts on radio or television Online piracy- Free Download from websites and P2P
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losses of Taka 5 Million per year 90-95% are pirated sales intellectual property theft is a thriving billion-dollar industry 10 major recording companies have folded in 5 years mobile phone companies routinely use songs as ringtones without paying royalties
retail stores have computers to fake CDs Ignorant society blank CDs are frequently imported. no import tax considering 'Computer Accessories 4) Popular sites like YouTube are allowing to illegally upload music videos
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Young generations don't mind compressing the sound quality as mp3 No proper contract between a music company and an artiste FREE download. So who will buy CDs?
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governments lose millions of tax revenues economies are deprived of new investment consumers get deprived of superior sound quality, artwork & information. Also the shortcut savings drive up the costs of legitimate product producers lose. 85% recordings dont even cover costs. So profitable 15% subsidize less profitable music & cover costs of developing new artists
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Honest retailers lose because they cant compete with the prices offered by illegal vendors Also music pirates who have to pay the fines. most importantly creative artists lose. 95% depend on it to make a living. Their reputations are damaged by inferior pirated copies
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Create an organization where an artiste must register The government should subsidize to build its own production house Air the unreleased tracks in radio after paying royalty strict regulations so that the artistes get fees every time the songs are played
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Fix a standard amount of royalty The lotteries/quiz contests can declare the CDs as prizes to promote sales CDs can also offer free tickets to the live concerts Sponsors can advertise their products through CDs
Recommendations
Raise public awareness 10) Radio stations should contract with artistes to play their songs exclusively 11) Mobile operators should release audio albums first. This benefits both artistes & operators 12) Legal websites should be introduced to sell music through credit cards
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So, piracy should be stopped to ensure turning a failed market to a successful one