The Pirate Bay sold for $7.7 million
Apparently, crime does pay.
Last month the four founders of torrent directory site The Pirate Bay were sentenced to one year in jail and a 3.6 million fine for assisting in wholesale copyright infringement (Pirate Bay doesn't host torrent files, it just list locations on other servers).
Today it has been revealed by TechCrunch that Swedish firm Global Gaming Factory X will purchase The Pirate Bay for $7.7 million. Both The Pirate Bay and Global Gaming Factory X (PDF) confirm the news.
In a press release statement, Global Gaming Factory X CEO Hans Pandeya said:
We would like to introduce models which entail that content providers and
copyright owners get paid for content that is downloaded via the site.
The Pirate Bay is a site that is among the top 100 most visited Internet sites in the
world. However, in order to live on, The Pirate Bay requires a new business
model, which satisfies the requirements and needs of all parties, content
providers, broadband operators, end users, and the judiciary. Content creators
and providers need to control their content and get paid for it. File sharers need
faster downloads and better quality.
So once users have to pay to use The Pirate Bay, how long do you think it'll stay in the top 100 visited internet sites? Do people go to The Pirate Bay for its convenience, or just because they want to get copyrighted materials without paying for them? I believe it is the latter, and that the site will quickly lose its audience once it goes legit.