> I'm not aware of any company going under directly because of piracy
> Factors cited were the heavy debt incurred during its aggressive expansion in the 1990s, growing competition from mass discounters and Internet piracy.[10] Mismanagement, managerial incompetence, and crippling restrictions from the first bankruptcy deal also contributed to Tower's demise.[11]
Not just piracy to say the least.
The Government Accountability Office came out in 2010 with a report that said these numbers “cannot be substantiated or traced back to an underlying data source or methodology.”
http://freakonomics.com/2012/01/12/how-much-do-music-and-mov...