When authors and musicians condemn piracy, they like to believe – for some reason – that 100% of that is lost sales.

In reality, probably less than 1% of pirated material represents a lost sale. I’d guess somewhere around 0.25% or so, but I can’t find any good formal studies.

If I were an author, I’d only hope my work would be widely pirated. For budding authors especially, exposure is far more important than anything else.