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I don't think you can ever say this industry is dying. People will always want sex/porn. It's human nature. Are certain old methods dying? Yes. Are old ways of selling dying? Yes. The industry is evolving, like every industry in this world and those that are on the cutting edge will flourish.
It amazes me when I hear someone in any industry complain about an old method not working anymore and then claim that things are dead. Did you know that some of your biggest dating companies used to rely exclusively on direct mail? That music companies shunned the idea of selling songs online? Or that someone would dare pay for radio when they can have it for free?
So your galleries convert 10 times worse now than in 1999. Maybe there are 10 times more people online? Maybe there are much better methods of selling? Ask your biggest mainstream companies right now if they use the same methods they used in 1999. I doubt you'll find many that say yes.
I guess what some see as half empty, I see as half full. With high speed getting better and more easily accessible and other technology improving dramatically, I foresee those companies that step up and do something unique succeeding. Those that embrace personalization, user interactiveness, and high definition technology will thrive. There are so many areas that have yet to be touched in this space.
Industries never die, they just evolve.
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