I agree that the products themselves (movies, music, books, etc.) have not lost any value. That isn't what record companies are selling, although it appears so.

I agree that the products themselves (movies, music, books, etc.) have not lost any value. That isn't what record companies are selling, although it appears so. What one mainly pays for is distribution, advertising, and marketing. In that, there is little to no value left. See the artists' cut vs. the actual price of physical goods (or even digital ones).