How to stop illegal filesharing – Charge the correct price for your music !

There has been more debate this week about the downloading of music
It is proposed that persistent file sharers have their internet service restricted in some way.
The problem is it isn’t persistent file sharers who are causing the decline of music sales.
Persistent file sharers download more music than they could ever afford to buy and so the economic loss the music industry may be minimal in these instances.
The real loss to the industry is from casual down loaders, I would guess that most people perhaps on overage bought an album a month. Just guests but close enough for this debate.
If the casual downloader downloads 6 albums per year then they may reduce their purchases by 50%.
Will the ISPs and music industry be able to monitor and punish every person who has downloaded an album every 2 months?
The best solution for the music business is to reduce its prices so that the illegal downloading of music is not worth the bother.
For Example:
A four piece band make an album
It takes 3 months to produce. ( Writing songs rehearsals etc)
It contains 10 tracks
Production costs (studio time etc) £5000 per track. Total Cost £50,000
Band members wages for three months * £60,000
(Based on average earnings of the top 10% of UK earners (£50,000 pa pro rata 3 months) + Pension and National Insurance contributions).
Admin costs say 10% £11,000
Advertising say 25% £30,250
Total Cost of producing Album £151,250
Assuming sales of 200,000 copies worldwide, the whole sales price of the Album could be 75 pence
Add ITunes and VAT costs say a sale price of £1.20.
This doesn’t take account of the income for a couple of singles pulled from the album, or fees from radio stations playing the songs, so a bit of a bonus for the band!
The above figures demonstrate that it’s possible to produces music much cheaper than the prices being currently charged, even with recent reduced prices, a new album on I tunes retails at £8.00.