We use a 1998-2002 cross-section dataset to analyze the claim of losses due to internet piracy made by the record industry. The results suggest that internet piracy played a significant role in the decline in music sales during the early days of file-sharing networks

The audio compact disc (CD) has been a common item in most households ever since its introduction in the early 1980s. A pioneer format in digital music, it captured the imagination of many at the time of its inception. In this article, I present the CD as a business history case, from being a...