Recording companies have been saying that digital piracy has killed their CD sales. But “researchers at two leading universities have issued a study countering the music industry’s central theme in its war on digital piracy, saying file sharing has little impact on CD sales. ‘We find that file sharing has only had a limited effect on record sales. The economic effect is also small. Even in the most pessimistic specification, five thousand downloads are needed to displace a single album sale’.”