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Honestly I think overall it's fucked no matter what we do unless either:
1. A good 75% or more of the industry including Manwin and the big processors unite to put a stop to the rampant piracy. (odds 1:10,000,000)
2. A global anti-piracy effort comes to pass and significant law changes take place worldwide within the next few years. (odds: 1:1,000,000)
3. Effective to a smaller extent- Major porn buying countries such as the U.S., U.K., Canada make law changes in their jurisdiction which are effective in shutting down access to piracy within their respective countries. (odds: 1:10,000)
All this being said I think if you have a rare micro-niche pay site or you are an affiliate promote one it can make a *tremendous* difference if you can get the content off the file lockers and DMCA tubes. I've seen it with my own eyes. There generally is a significant conversion different between companies who have a hands off approach to piracy and those who are fighting.
OTOH if you are selling teen pay sites or something like that where surfers can go everywhere you're still pretty fucked even if you keep your stuff off because the surfers have so many other choices within the niche. You need a concentrated effort among all in your niche to make a real difference.
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