Violating my copyright privileges is definitely not a good thing. I am all for sharing music. If music was not shared, some of the smaller acts would never be recognized. As for my scenario my employment and income is based off of music sales. In this case I am not okay with it. The Fair Use Act seeks to protect people from others reproducing their content without consent. By people sharing my music they are violating the fair use act because I did not give this music away for free in the first place..
The reduction in my profits is a terrible thing. I am not sure how to stop copyright infringement. There really is no way to stop people from sharing music unless we make it more affordable. This also hurts the artist who is signed to a record label. The record label takes a percentage of sales for promoting and distributing the material. If we could make music available digitally that can help reduce the cost of an album. It eliminates packaging and shipping. There really are no legal remedies to pursue in my opinion. By suing fans you will create a bad name and make people not want to purchase your material. It is hard to sue everyone as well. Some people cannot be caught. All we can do is find a new way to deliver music that will not be able to be copied and distributed. ITunes is a great example.