Image may be NSFW.
Clik here to view.
News Corp. CEO Rupert Murdoch frequently tweets about how web pirates are destroying the entertainment business by stealing its content and preventing studios from making a profit.
But a report by Floor64's Michael Masnick, released by the Computer and Communications Industry Association, shows the opposite is true: The entertainment industry is not being killed by the world wide web.
In fact, it's exploding: "Through a decade of economic and technological upheaval, the entertainment industry grew 50 percent while consumers increased spending on entertainment," claims the report.
Since 2000, the portion of household spending that went to entertainment increased from 4.9 to 5.62 percent by 2008. Put another way, that's a 15 percent increase in consumer spending on publishing, movies and music, the report states.
The worldwide number of people playing video games has grown from 250 million in 2008 to 1.5 billion in 2011.
Image may be NSFW.Clik here to view.
Source: Floor64
Consumer spending on video games in North America has more than doubled from $10 billion in 2005 to over $25 billion in 2011.
Image may be NSFW.Clik here to view.
Source: Floor64
60 percent of all Americans over six years old play some kind of video game.
Image may be NSFW.Clik here to view.
Source: Floor64
See the rest of the story at Business Insider
