Cons
“It's hard to run a restaurant if the food is free”
If the US Congress would remove copyright restrictions on digital media, the entire industry would face major losses through their secure income source from sales of CDs, DVDs and vinyl. This would again cause companies to cut their expenses and it would most likely affect the recruiting of new talent. Many companies would also vanish because their market would disappear. Larger retail stores such as Blockbuster and RadioShack would probably be some of the companies affected if they could not sufficiently adapt. This again would affect the American people because of the loss of job opportunities as well as the government because of the resulting decrease in income taxes.
The Motion Picture Association of America (MPAA) estimated worldwide losses due to piracy to be as much as $3.5 billion annually from 2002-2004. If the US Congress would remove copyright restrictions the industry would face an enormous decrease in revenue and the quality of movies would most likely face a huge set back. The investors in the lucrative movie industry would also abandon the sinking ship because they would not be able to receive any return on their investments.
There would be no point of removing the copyright restrictions because society has already evolved and people continue to develop new products which are easily accessible to the audience and are also priced accurately based on what you get. Some of the most popular products currently available are Spotify and NetFlix. Spotify is a software that allows you to search through millions of music records and stream whatever tracks or CD’s you want to listen to. You can either buy the premium version for $9.99/month or you can download the free version. The free version does not have the same database, and it comes with commercials in between the songs. Spotify is legal and has made deals with all the major record companies in order to maintain awareness of current industry trends and practices. The record companies still generate revenue through royalties on their songs.
If the US Congress would remove copyright restrictions on digital media, the entire industry would face major losses through their secure income source from sales of CDs, DVDs and vinyl. This would again cause companies to cut their expenses and it would most likely affect the recruiting of new talent. Many companies would also vanish because their market would disappear. Larger retail stores such as Blockbuster and RadioShack would probably be some of the companies affected if they could not sufficiently adapt. This again would affect the American people because of the loss of job opportunities as well as the government because of the resulting decrease in income taxes.
The Motion Picture Association of America (MPAA) estimated worldwide losses due to piracy to be as much as $3.5 billion annually from 2002-2004. If the US Congress would remove copyright restrictions the industry would face an enormous decrease in revenue and the quality of movies would most likely face a huge set back. The investors in the lucrative movie industry would also abandon the sinking ship because they would not be able to receive any return on their investments.
There would be no point of removing the copyright restrictions because society has already evolved and people continue to develop new products which are easily accessible to the audience and are also priced accurately based on what you get. Some of the most popular products currently available are Spotify and NetFlix. Spotify is a software that allows you to search through millions of music records and stream whatever tracks or CD’s you want to listen to. You can either buy the premium version for $9.99/month or you can download the free version. The free version does not have the same database, and it comes with commercials in between the songs. Spotify is legal and has made deals with all the major record companies in order to maintain awareness of current industry trends and practices. The record companies still generate revenue through royalties on their songs.