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Economic analyses has shown that global copyright infringement, or "piracy", of music alone accounts for economic losses of $12.5 billion, 71,060 jobs lost, and a loss of $422 million in tax revenues every year. Though piracy has existed in some form for over 100 years, these losses have increased dramatically as piracy moved from analog forms (such as copying cassette tapes) to the digital domain (such as downloading songs and creating counterfeit CDs). Previous classifications of pirates established prior to this shift to the digital domain may no longer be applicable due to numerous fundamental differences between analog and digital content, and to date, there have been no attempts at empirical analyses on these classifications. This study aims to identify and categorize the rationalizations and the validity of those rationalizations individuals use when pirating digital content (utilizing Matza & Sykes' techniques of neutralization as a framework), provide an updated reclassification of the types of pirates based on empirical analysis (including factor analysis), and suggest key ways official authorities and stakeholders in the music industry may use this information to counter piracy or inform content creators of the best practices of releasing content to reduce the overall impact of piracy.