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Recently sales of physical music media have declined along with music industry revenues - the reasons are complex and poorly understood. The authors present three models exploring claims made in the conversation over piracy and the music industry's future. The authors model stakeholder perspectives rather than the full industry to identify their assumptions and the implications of their views, including: Music industry labels claim music piracy directly supplants music sales; Artists claim free music distribution can increase artist revenue through concert sales; and Some academics claim reduced music sales revenue is attributable to other market changes (e.g., increased entertainment competition) rather than piracy.
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