Yannick was in the channel again this morning, answering some questions. Here's one from a community member you guys may find interesting, and of course Yannick's response
'Hey guys, I read with interest your projection that data brokers are expected to sell data worth $7,600 per year per American internet user by 2022. Is there a reference somewhere th'at backs this up and/or describes the current composition of this revenue? I've looked up the current revenue of companies like Experian and Axciom, but these are pretty small compared to the projection you've described'
And Yannick's answer:
Hey, this is a very interesting question indeed. Of course it's very difficult to predict and cases like the one with Facebook & CA now are also likely to have an impact on this as it will influence regulations, public opinion and thus solutions. There are different estimates that widely vary, but one that we often cite as the basis is the following:
A special one year investigation into the Data Brokerage market— led by Senator Jay Rockefeller IV and the Senate Committee on Commerce, Science, and Transportation—estimated the total market size of Data Brokerage to be $156 billion in 2012. This means that the average American citizen would have made roughly $1,600 that year. That is a 2.8% increase to the median household income.
Due to their relatively higher internet consumption, millennials between 18 and 29 would have made $2,600 per year if they were receiving the proceeds of Data Brokerage. These proceeds will become even more substantial given the exponentially growth of this asset class. A staggering 90% of all data has been created in the past two years. If we do a simple forecast of the Data Brokerage market based on a weighted growth factor collated from research presented by EMC and the growth rates of publicly listed data brokers (Acxiom, Equifax, Experian, and Alliance Data Systems), we find that this market stands to grow about 27% per year. In the year 2022, the potential proceeds of an individual’s data will have grown to an average of $6,700 per American internet user per year, with millennials standing to make around $10,900 per person.
I hope this gives some insights into the calculations, but as I mentioned this will widely vary depending on depth & amount of data, target audience, etc.'
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https://t.me/datawallet
