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Why do people believe piracy is destroying multimedia?

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Why is it most people believe piracy is destroying the various multimedia industries when the fact is they are pulling in more revenue than before, billions of dollars flowing into them even though piracy is at an all time high? what do you think about piracy?

oh and if your answer is: its hurting the artist, dont bother, they already got paid before the movie/tv show got aired/ screened and anyway pop stars win from concerts so....