In “Music Piracy and Its Effects on Demand, Supply and Welfare”, Joel Waldfogel explains that with consumers constantly downloading music illegally on the internet since the 90s, lack of compensation has caused the recording industry to find a financial solution while still producing music. According to studies in Waldfogel’s article, technology weakens copyright protection for recorded music resulting in a revenue reduction and a decreased amount of music coming into the market for consumers. Waldfogel mentions that since online pirating sites, specifically Napster, have caused a decreased revenue all over the world, the supply of new music will decrease as the recording industry can’t compensate for it. As a result. it is hard for recording
