I first want to point out that I am not an apologist for the media extortionists, but I want to make a point from a business perspective. Also, I am sure they have made these claims despite a lack of reference, but I doubt they believe that by simply eliminating piracy outlets, etc. that revenues will magically increase.
Rather by eliminating free alternatives they are trying to reduce the loss of revenue by keeping their current revenue stream in tact. In other words, reducing piracy is more likely to maintain revenues than increase them. While this logic may not hold true in the long run it makes business sense in the short term so they can (in theory) make innovations in tandem that will hopefully increase revenues.
So I would say yes there is value in cracking down on piracy to some extent. That being said, the view posited by this article would be true if the above was not the case. In addition, they need to realize that technology has empowered the consumer as well as the artist and they are no longer the gatekeepers. If they want to survice they need to add value themselves rather than trying to continue being malignant dictators.
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