Hollywood Crypto: Behavioral Economics of Piracy, Netflix, and the Future!

In 2001, BitTorrent was released and completely changed the face of piracy (and the internet as a whole) At its peak, piracy accounted for 24% of global bandwidth traffic. Pirated content is now visited over 78.5B times per year, and it is estimated that piracy takes $2–6 billion from the TV, movie, and music industry, plus an additional $456 million dollars in lost would-be advertisement revenue. In 2007, Netflix launched its online streaming service, the streaming service that would inspire the likes of Hulu, Amazon, etc., to take grabs on your money.