Content Industry Failure Not To Be Blamed To P2P – EU

A new study conducted by the European Union showed that internet users are not willing to pay for content being shared in peer-to-peer networks contrary to what industry executives’ claim.

The study, which was released on Friday, also said that nothing is going to change the mindset of consumers over free contents they get from the P2P networks.

“According to the result of the study, these online users are not favorable to what industry executives were proposing, which is selling the content. In fact, we found out that people will not pay even if the industry will take away other free options,” the EU said in a statement.

EU said that the findings only proved that executives were wrong in implicating that users will be forced to pay if these P2P networks will be removed.

The commission also questioned the stand of the music business, saying that “if the people won’t pay for the content they get from the internet, how will these companies survive.”

This drastic findings are important to the music industry as the P2P technology are starting to boom to its full potential, EU said.

Meanwhile, the EU said that the solutions to the problem are harder than they expected. It also said that the music industry will need a new business model to cope up with the trend.

On the other hand, the European Commission, in its Digital Competitiveness Report, said that the state of the online entertainment industry is very weak in terms of revenue, saying that only five percent of users in Europe paid for the contents they get online for the past three months.

But the commission refused to further detail the study. Records showed that some 30 percent of users are willing to pay if content prices were lowered significantly and with better choices and quality, while some 15-20 percent of the non-payers remained unconvinced.