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Significance of the live shows if greatly overestimated - most customers are not into this thing that much and just want videos.
With live shows, surfers are tied to a particular time of event which doesn't fly well with most of them. And if you make recorded copies of live events available in your member area for time-shifting, they can be stolen and posted at tubes/torrents/rapidshare/boards etc just like any other video. And if you don't, they still can be screen recorded and stolen.
Shifting to live shows is just a desperate attempt to fight piracy, by giving up your rights to produce and distribute legal content and earn your profit off it, and shifting to the only kind of stuff that can't be stolen. And yet it can be stolen too, so the ones thinking that live shows is the answer (aka the infamous "adaptation") need to disillusion themselves - shifting to live shows is not the answer, at least not to the industry as a whole. It may work for some, but for the rest it will not.
The only real answer to our current problems is fighting piracy, because you cannot really "adapt" to a situation where everyone can steal your work and post it free or even sell it without paying you anything.
With the ongoing piracy "adaptation" can only mean giving up most of your profits to the tubes and the likes crowd, while working harder and harder yourself for less and less profit.
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