When Amazon sold Lady Gaga's latest album for 99 cents, the volume of purchases crashed their servers. Even I bought the album, and I'm not a Lady Gaga fan. Why? Because it was 99 cents. It stands to reason, if lowering the price of a good by 90% increases sales 10 fold, then lowering it to zero increases consumption even more. So it's not unreasonable to say that 95% of pirated content would not have been purchased otherwise, and results in zero loss to the industry. It's also the only reasonable explanation why Hollywood continues to make record profits in the face of such "pervasive" piracy.