In 2007, the Institute for Policy Innovation (IPI) reported that music piracy took $12.5 billion from the U.S. economy. According to the study, musicians and those involved in the recording industry are not the only ones who experience losses attributed to music piracy. Retailers have lost over a billion dollars, while piracy has resulted in 46,000 fewer production-level jobs and almost 25,000 retail jobs. The U.S. government was also reported to suffer from music piracy, losing $422 million in tax revenue. COUNT 4
QSN1 Who reported that piracy took $12.5 billion from the U.S. economy? ANS1 Institute for Policy Innovation QSN2 How much money have retailers lost? ANS2 over a billion dollars QSN3 How many production-level jobs were lost? ANS3 46,000 QSN4 Which government lost $422 million in potential tax money? ANS4 U.S. government