... but now there's a study to back that:

From BoingBoing, Cory Doctorow's weblog:
Koleman Strumpf, a conservative, Cato-affiliated economist at the University of North Carolina at Chapel Hill, has just co-authored a paper on the effects of file-sharing on album sales, based on the first-ever empirical data analysis in the field.

[....]

Even in the most pessimistic specification, five thousand downloads are needed to displace a single album sale...high selling albums actually benefit from file sharing.

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Dragi "Bonzi" Raos Q#5196 MkII #080000376, 18GB green MkIIa #040103247, 60GB blue