In recent times, one of these issues can be said to be online music piracy. The piracy of music generally refers to the act of copying and distributing copies of music for personal gain without the consent of legitimate copyright owners of the music (Kreitz & Niemela, 2010). Online music piracy can therefore be said to be the use of the internet or other online portals for music piracy activities (Chase, Mulvenon & Hachigian, 2006). Even though the effect of online music piracy can be appreciated to be vast and widespread, the research seeks to put a very specific spotlight on the entrepreneurial investment in the music industry. In effect, the research will look specifically at the impact or effect of online music piracy on the entrepreneurship and funding of music projects in the UK. As noted by Duckworth (2005), music as an industry is a well branded business which require a lot of financial investment to succeed. But as to whether the issue of online music piracy is a disincentive for entrepreneurs is a question that the research will explore.
The aim of the study will be to find the direct effect of online music piracy on music entrepreneurship and funding of music projects in UK. To achieve this aim, the following specific objectives will be targeted.
There is a historical context to the effect of online music piracy on sales where The Institute for Prospective Technological Studies, which is part of the European Commission’s Joint Research Centre, published a report suggesting that online music piracy does not hurt sales (Ernesto, 2013). Since this publication, there have been several other academic and professional discourses to debate the real economic impact of online music piracy on the music industry as a whole. The proposed study there comes with the significance of contributing to the ongoing public discourse. The study will add much economic contexts to the subject by looking at how