One of the most difficult tasks for companies that sell copyrighted music, movies, or computer software is estimating how much money they lose due to piracy. So they have been known to--how to put this delicately?--exaggerate.
That's the topic that The Pirate Bay trial in Stockholm explored on Wednesday when John Kennedy, the chief executive of the International Federation of Phonographic Industries, testified that every MP3 file that is swapped online represents a lost sale. The IFPI is the Recording Industry Association of America's international affiliate.
Kennedy answered "Yes" to Pirate Bay defense attorneys … Read more