There's a new death-of-the-music-biz report circulating today, courtesy the Lewisville-based Institute for Policy Innovation. Titled "The True Cost of Sound Recording Piracy to the U.S. Economy," the 28-page study says that the music industry's losing, oh, $12 billion in revenue each year -- and thousands and thousands of jobs as a result of that lost dough. "Combining the latest data on worldwide piracy of recorded music with multipliers from a well established U.S. government model," reads the synopsis for those without time to scan the whole doc, "this study concludes that recorded music piracy costs American workers significant losses in jobs and earnings, and governments substantial lost tax revenue."
For what it's worth, Billboard, Variety and the Hollywood Reporter all fail to note in their stories about the study that IPI is the extremely conservative think tank formed by Dick Armey 20 years ago. Idolator notes it, however. And it notes this too: "[IPI] also doesn't bother to vet their findings in any way, nor to let you know how these findings were reached." One thing's for sure: The Dick Armey's not nearly as much fun as the KISS Army. --Robert Wilonsky