Perhaps like tubemonkey says, DRM only gives publishers (and authors) a false sense of security. They have no means of knowing whether DRM has actually converted an illegal download into a sale. They also have no means of knowing if customers are buying a particular book because they had already downloaded and read a copy and liked it.
Piracy exists. Thats a fact. Perhaps publishers need to figure out how to use that to their own advantage.
By the way, I notice no one's got anything to say in favour of DRM...
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