TorrentFreak
Pirates of Westeros: the untapped half-billion dollar market for Game of Thrones
Ernesto at TorrentFreak:
It’s clear that HBO (and others) prefer exclusiveness over piracy, which is a dangerous game. They might make decent money in the long run by selling subscriptions. However, this limited availability also breeds pirates, and one has to wonder how easy it is to convert these people to subscriptions once they have experienced BitTorrent.
TorrentFreak is unabashedly pro-torrent and, some might argue, pro-piracy if necessary. And they don’t exactly divulge great detail on their methodology for determining downloads and viewership. But, let’s assume for the sake of a blog post that their numbers are accurate.
Game of Thrones pulled an estimated 4.2 million legitimate (read: cable-subscribed) viewers per episode and 3.9 million illegal torrent downloads per episode during its second season. You could even, as Gizmodo's Casey Chan did, pull legitimate viewership numbers from Wikipedia and use those alongside TorrentFreak’s download numbers to come ot the conclusion that more people pirated the second season than legally watched it. I don’t think you need to massage the numbers, though: