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Wednesday, July 4, 2012

Evolution of the Digital Market

The Pirate’s Dilemma is the title of the best-seller written by Matt Mason, where the author emphasized the importance of digital markets, pointing to technology experts and their influence in the field.

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Actually, users engaged into file-sharing aren’t considered to be thieves, but rather digital entrepreneurs who managed to reshape the content industry into their “image”. Nowadays, the idea of file-sharing has already reached the farthest corners of the globe – even in the countries where file-sharing and the web itself are controlled by abusive regimes, like China or North Korea. The researches have revealed that piracy is really increasing album sales, with people like Sean Parker (the co-founder of Napster) becoming billionaires.

Taking this into account, one can only say that the author was a true visionary of his time, because today he is an executive director of marketing for BitTorrent Inc., a company that many refer to as the biggest file-sharing entity in the world, accounting for over 160 million users. The company also managed to raise over $40 million in funding, and is actively used by other international giants like Wikipedia, Twitter, and Facebook. In other words, BitTorrent is trying to cross the barrier separating it for such a long time from a legitimate business, because it is going to put legal material on the first place, thus monetizing the digital space.

When asked about how he feels about the monetization of material distribution and the future of P2P, Matt Mason pointed out that the published studies showed file-sharers spent more money on content.

The company is currently trying to examine the new business models that the artists are able to build through the BitTorrent ecosystem, and later use the results of those experiments in order to create the instruments for doing so. The web as a place where the creative works can thrive isn’t delivered on today, and so the artists prefer to release their works on the Internet in ways that make sense.

It isn’t easy to connect directly to a fan base, and it’s hard to share large files online with just the BitTorrent protocol. While the consumers can’t find the content they want in the suitable format, the artists can’t deliver that to their fans. That’s why BitTorrent Inc. is busy working on new ways to solve these problems and make everyone happy.

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