SCOTTSDALE, AZ (Hypebot) – In 2007, the value of unlicensed music trafficked on P2P networks was $69 billion US, according to a new MultiMedia Intelligence study. According to the report, this value should not be viewed as lost revenue, but rather the result of multiplying the number tracks by a fair market value per track. However you look at the numbers, they are significant and growing. MMI predicts P2P traffic will jump 400% in the next five years.
"A $69 billion figure is staggering to contemplate, but it effectively illustrates the impact of piracy on the music industry," according to Rick Sizemore of MultiMedia Intelligence. "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. This is precisely why efforts from groups like the DCIA and those related to digital fingerprinting (e.g. MySpace and MTV) are vital to foster a 'safe' environment – one conducive to growth and maturation. With an ever burgeoning flow of content over the digital pipes, the need for efficient distribution becomes all the more vital and we would be remiss to think of P2P exclusively as a tool for pirates."
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.