CEO Stein puts money lost at around $105 mil in 1999
BMG Entertainment CEO Thomas Stein said the illegal trade of music on the Internet cost German record companies around DM200 million ($105 million) in lost revenues last year.Music-download Web sites like Napster, Scour Exchange, iMesh, Gnutella, FreeNet and Mojo Nation have attracted millions of users around the globe. While a judge has enjoined Napster from operating and the site prepares for further battle with the music industry, electronics companies are enjoying boosts in sales of CD burners and MP3 players.
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