Are Peer to Peer File Sharing Networks Dead?

Abstract
Peer to Peer file sharing networks established in the late 1990s with the introduction of Napster and evolved with networks and applications such as Limewire, eMule and BitTorrents accounted for roughly 27% to 55% of all Internet traffic in their peak times.
Other technologies have now been introduced which started to see P2P Network traffic decline, dropping from 3.5% to 0.6% of total internet traffic. Or reported by the University of Michigan peer-to-peer network traffic has gone from 4 percent of all Internet traffic to about half a percent in recent years.
The Apple iTunes store with a catalogue of over 12 million songs, 55,000 TV episodes and 8,500 movies amongst 50 million customers who have downloaded more than two billion songs, 50 million television episodes and over 1.3 million films. Have shown that peer to peer file sharing networks (like BitTorrent, eMule etc.) are not dead but declining.
Further to that YouTube with over 2 billion viewers a day hosting content for partners such as CBS, FOX, Disney and more, consume 10% of all Web traffic. TV channels and production companies have now started publishing their shows online ad received just over 1 million viewers watching their content. 29.5% of all internet traffic in 2009 was for real-time entertainment which increased to 42.7% in 2010.
Legal battles such as the 2003 RIAA (Recording Industry Association of America) actions upon 261 music fans for sharing songs on P2P Networks and in more recent times U.S. district judge Kimba Wood ordering Limewire to disable functionality of their file sharing network have all contributed to the decline in peer to peer file sharing networks and its users.
Although peer to peer file sharing networks (like BitTorrent, eMule etc.) are not dead they are on a decline due to the convenience and availability of other technologies such as on-demand media through production company and TV channel websites, iTunes and video sites such as YouTube. There is little...