Is Copying A CD Considered Stealing?

I once heard a speech about copying CDs. The lecturer said that copying CDs is considered stealing because it takes away from the singers livelihood. The next week, I bought a book. Now, the book is mine. The author of the book can’t tell me that I can’t give the book to my friend, nor can he tell me which pages to read. When I buy a CD, why can I be told what to do with it? Am I not free to now do what I want with it?