Porn industry feeling the economic crisis (graph)

Amid a tumultuous world, where climate change, regional conflicts, terrorism, refugee crisis and economic instability are at the epicenter of discussions in all global fora, another ‘serious’ problem is emerging….The porn industry is in deep crisis, according to ‘The Economist’. In its detailed feature story series the magazine looks at the heydays of the pornography from VHS tapes and DVDs to the explosion of porn on the internet with tubes like ‘Pornhub’, ‘Xvideo’ and ‘Xhamster’. The article points out that according to data the industry has lost nearly 40bln dollars in the last 5 years, going from a 50bln dollar turnover per annum to 12bln in 2015. The Internet has changed the way people ‘consume’ porn, while it also meant that previously expensive porn production companies were forced out of business. Entering the 21st Century there were more than 3,000 porn sites on the internet raking in huge profits with short porn clips. In 2012 Fabian Thylmann, the owner of the largest porn production company in the world made an unsuccessful 120-million dollar bid to the French owner of one of the largest porn sites ‘Xvideos’. The numbers are mindboggling, but considering the fact that a site with erotic content has over 80bln visits it is no surprise the bid was turned down. Another point The Economist shed light on were the changing preferences of porn consumers per country.