One of the pillar of a society is its members are sharing culture. Anyone should have the right to share its culture. DRMs deny this right, thus are ethically wrong. Using a software that denies the users freedom (the Adobe Flash player is even known for spying its users!) is ethically wrong too.

The pay-per-view or pay-per-copy model of the "content industry" does not make any economical sense when making a copy or having one more spectator does not cost anything. Streaming art or sport games is a useful activity and it would not die if it started to be done in an ethical way. If there really is no money to be made ethically from the spectators, I am sure the people organizing the stadiums (with advertisement around the field, and sits to fill) or the teams (selling merchandising, shirts for instance) would pay to be streamed! Actually they might even make more money in this way since the audience would be greater. Music/Video streaming websites have advertisement too. If people prefer to directly exchange their files (e.g., over P2P), then this business would die and that is OK. It simply means it became useless!

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