Do you think pirating music/movies is wrong?

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What are your thoughts on this? On one hand the stuff that most people pirate they wouldn't go out and buy anyways (well seems like it's that way to me anyways). Studies have shown that pirating music actually increases music sales, which I can see how that happens, sometimes when people download good songs they feel bad and go out and buy the whole cd. Thirdly pirating is just another word for sharing, someone is buying the cd, putting it on the interenet then sharing it with other people, so in a sense it is not stealing. On the other hand the music and movie industry is being cheated out of that much business. What are your thoughts on this issue?