Thousands of jobs in the music industry could be at risk.

The music industry is calling on the European Union to revise copyright laws in order to protect the music industry from internet abuses and piracy.

Europe accounts for 60 per cent of the world's music retail market valued at $24 billion.

Thousands of Irish jobs could be at stake unless adequate laws are put in place by the European Union to deal with piracy.

Nick Garnett, International Federation of the Phonographic Industry, says that $2 billion a year is being lost to internet piracy and it’s going to get worse as a result of the expansion in CD manufacturing.

The biggest threat to the music industry comes from the growth of the internet. A few years ago it took 250 days to copy a recording from the internet. Now it can be done in real time or less.

Speaking at a news conference, Paul Keogh of Polygram Records, asked for government financial support to promote new talent. Mr Keogh does not see this as a hand out as the government benefits from tax revenue on sales and royalties.

An RTÉ News report broadcast on 16 October 1996. The reporter is Colm Connolly.