Market researchers from Multimedia Intelligence estimate that the value of all music swapped via P2P last year was 69 billion dollars. The number is coming from the same report that I recently referenced in a posting on about the fact that legal P2P is growing faster than unlicensed file sharing, but that illegal downloads will continue to dominate.

The report also predicts that the number of full-length movies traded on P2P networks will grow almost four times until 2012, and that the overall amount of P2P traffic will grow almost 400 percent in the same time frame.

Of course one should always take those notes with a grain of salt, especially when it comes to estimates about lost or potential revenue. The record labels have long made the case that file sharing has cost them billions, but the actual loss is of course hard to estimate because we simply don't know how many records someone would hve bought if he or she didn't get them for free.

Multimedia Intelligence does acknowledge this, pointing out that the 69 billion dollars figure is not actually lost revenue, but rather based on the number of tracks traded worldwide and their far market value - which I guess would be one dollar per track in the US.

The fair market value would obviously change if you changed the way the market itself works, let's say by introducing a collective licensing scheme. Still, the number could be a good reminder that there is a whole lot of money left on the table.

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