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STUDY: Pirated Music on P2P Networks Valued at $69 Billion in 2007

By soulxtc

Calculated by multiplying number of music tracks illegally shared on P2P networks and services by the fair market value per track. MultiMedia Intelligence, a market research and consultancy firm, which "specializes on the markets and technologies for delivering and monetizing digital content and services across multiple platforms," has released a new study claiming that the value of music illegally shared in 2007 was some $69 billion USD. The research,P2P Networking: Content's "Bad Boy" Becomes Tomorrow's Distribution Channel, analyzes the P2P market in terms of worldwide broadband penetration, consumer consumption of data, audio and video files and its associated revenue "A US$69 billion figure is staggering to contemplate, but it effectively illustrates the impact of piracy on the music industry," claims the company's Rick Sizemore. "It is important to note that piracy has expanded well beyond music. Content owners of TV episodes and full length movies are seeing a growing impact.

Full post as published by ZeroPaid on November 17, 2008 (boomark / email).