Piracy remains a real problem for virtually every sector in every country in the world.

We live in an age where virtually every sector in every country on the planet is contaminated by piracy and counterfeiting and this is having devastating effects on our businesses, the economy and wider society.

I'm not persuaded by the argument that a single price deters piracy, ... I'm not persuaded of the fact that a lower price deters piracy. What I am persuaded of is that making music more convenient and better value is a deterrent to piracy.

This is not about raising prices. It's about getting the most effective charging structure.

Today's results show that EMI Group had a successful first half, delivering significant growth in both revenues and profits, and that both our recorded music and music publishing divisions made good progress during the period,

Piracy in all its forms has been the major factor in this reversal but not the only factor.