Year

Revenue
Valuation
Expenses
Profit
2016
$10,969.85
$34,116.05 $150,000.00
-$139,030.15
2017
$400,371.26
$1,777,320.63 $960,000.00
-$559,628.74
2018
$3,117,727.45
$15,272,853.05 $4,915,200.00
-$1,797,472.55
2019
$16,457,099.67
$73,755,081.63 $20,132,659.20
-$3,675,559.53
2020
$83,651,167.87
$367,061,375.38 $65,970,697.67
$17,680,470.20
2021 $192,371,493.12 $1,593,609,871.58 $172,938,225.69
$19,433,267.43
2022 $604,973,547.65 $7,820,474,585.79 $362,677,745.88 $242,295,801.77

Credits
99,000,000.00
98,000,000.00
96,000,000.00
94,000,000.00
91,500,000.00
89,000,000.00
86,500,000.00

Credit Value
$0.0002338
$0.0029463
$0.0297295
$0.2414175
$1.6151161
$9.5868491
$56.63

Soft Revenue
$0.00
$217,642.39
$1,860,218.72
$6,920,947.39
$27,125,416.87
$109,601,761.71
$463,401,207.63

Hard Revenue Net Hard Valuatio

$10,969.85
$34,116.05
182728.868
$689,108.66
1257508.73
$5,971,759.45
9536152.283
$39,150,344.67
$56,525,751.00
$231,434,291.02
$82,769,731.41 $1,045,601,063.02
$141,572,340.02 $5,503,468,547.65

Net Soft Valuation

$0.00
$1,088,211.97
$9,301,093.60
$34,604,736.96
$135,627,084.36
$548,008,808.56
$2,317,006,038.14

Year One Traffic Capture

0.00000007
Year One Media Capture
0.00000007
Initial Credits
1,000,000,000.00
LBRY Inc. Initial Credit Sha 10.00%
Traffic Base Growth Rate
1200.00%
Media Base Growth Rate 1200.00%
Expense Growth Rate
800.00%
Growth Damping Factor
20%
Software/Device Growth Ra
350%
Consulting Services Growth
250%
Enterprise Growth Rate
400%
Soft Revenue Valuation Mul
5

Year

Credit Value
2016 $0.0109699
2017 $0.0913644
2018 $0.6287544
2019 $3.8144609
2020 $22.6103004
2021 $33.1078926
2022 $56.6289360

Credits Sold
Revenue
1,000,000.00
$10,969.90
2,000,000.00
$182,728.80
2,000,000.00
$1,257,508.80
2,500,000.00
$9,536,152.25
2,500,000.00
$56,525,751.00
2,500,000.00
$82,769,731.50
2,500,000.00
$141,572,340.00

The numbers for total market size are quite accurate. The portion of the market that can be captured
1) Even a tiny capture of the market is extremely valuable.
2) LBRY's foundations ensures it avoids many costs that are fundamental to competitors, making som
Year

Credit Value (USD)

2016
2017
2018
2019
2020
2021
2022

Transaction Volume
$0.0002338 $140,001.75
$0.0029463
$1,764,239.40
$0.0297295
$17,802,079.95
$0.2414175
$144,561,406.36
$1.6151161
$967,135,376.32
$9.5868491
$5,740,628,218.24
$56.6289360
$33,909,542,536.41

Currency Equilibrium Factor

1.67

http://www.cisco.com/c/en/us/solutions/collateral/service-provider/ip-ngn-ip-next-generation-network
http://aws.amazon.com/ec2/pricing/
http://www.statista.com/statistics/237749/value-of-the-global-entertainment-and-media-market/
http://economics.stackexchange.com/questions/6450/the-insane-sultan-of-slickcrudistan-calculating

f the market that can be captured is speculation (We believe it could be larger). However, the bottom line is:

mental to competitors, making some capture a reasonable prediction.

Static Network Traffic (TB)Bandwidth Cost (TB) Media Spending
500,000.00 $50.00
$2,000,000,000,000.00
6,000,000.00
$47.50 $2,100,000,000,000.00
57,600,000.00
$45.13 $2,205,000,000,000.00
442,368,000.00
$42.87 $2,315,250,000,000.00
2,717,909,000.00
$40.73 $2,431,012,500,000.00
13,359,066,285.71
$38.69 $2,552,563,125,000.00
52,529,986,071.43
$36.75 $2,680,191,281,250.00
Traffic Growth

Bandwidth Depreciation Media Growth Factor

21.00%

5.00%

5.00%

ip-ngn-ip-next-generation-network/white_paper_c11-481360.html

rtainment-and-media-market/
ultan-of-slickcrudistan-calculating-currency-equilibrium
$25,000,000.00

owever, the bottom line is:

Traffic Capture
0.000007000%
0.000084000%
0.000806400%
0.006193152%
0.038050726%
0.187026928%
0.735419805%

Media Capture
0.000007000%
0.000084000%
0.000806400%
0.006193152%
0.038050726%
0.187026928%
0.735419805%

Traffic Growth
1200%

Media Growth
1200%

Credit Supply
1,000,000,000
1,000,000,000.00
1,000,000,000.00
1,000,000,000.00
1,000,000,000.00
1,000,000,000.00
1,000,000,000.00

Recipients
LBRY
Early adopters & Bitcoin holders
Charity / institution alignment
Mined*

Amount Credits
10%
20%
10% 100,000,000.00
60%
600,000,000.00

100,000,000.00
200,000,000.00

*Mined credits are theoretically infinite as long as inflation is above 0.

Purpose
Operational costs and profit
Incentivize adoption, chain to Bitcoin
Do good, relationship building, PR/marketing
Secure balances and metadata

Year

Credits
2015 1,000,000,000.00
2016
1,000,000,000.00
2017
1,000,000,000.00
2018
1,000,000,000.00
2019
1,000,000,000.00
2020
1,000,000,000.00
2021
1,000,000,000.00
2022
1,000,000,000.00
2023
1,000,000,000.00
2024
1,000,000,000.00
2025
1,000,000,000.00
2026
1,000,000,000.00
2027
1,000,000,000.00
2028
1,000,000,000.00
2029
1,000,000,000.00
2030
1,000,000,000.00

Initial Credits

1,000,000,000

0,000,000

Year

Revenue
2016
2017
2018
2019
2020
2021
2022

Financial ServiceConsulting ServicesEnterprise Se

$0.00
$0.00
$0.00
$0.00
$200,000.00 $17,642.39
$200,000.00
$0.00
$1,200,000.00 $160,218.72
$500,000.00
$600,000.00
$0.00 $1,170,947.39
$1,250,000.00
$2,400,000.00
$0.00 $7,050,416.87
$3,125,000.00
$9,600,000.00
$0.00 $37,664,261.71 $7,812,500.00
$38,400,000.0
$0.00 $200,232,457.63 $19,531,250.00
$153,600,000.

Paid Software/Devices
$0.00
$0.00
$600,000.00
$2,100,000.00
$7,350,000.00
$25,725,000.00
$90,037,500.00

Year

Credit Value
Consulting + EntFinancial Services
2016 $34,116.34
$34,116.34
$34,116.34
2017 $689,106.68
$1,689,106.68
$1,777,318.65
2018 $5,971,756.91
$11,471,756.91 $12,272,850.51
2019 $39,150,349.24 $57,400,349.24 $63,255,086.20
2020 $231,434,288.60 $295,059,288.60 $330,311,372.95
2021 $1,045,601,064.58$1,276,663,564.5 $1,464,984,873.15
2022 $5,503,376,512.39$6,369,032,762.3 $7,370,195,050.53

Value Over Time

4000000000
3500000000
3000000000
2500000000
Value

Financial Services
Consulting + Enterprise
Credit Value

2000000000
1500000000
1000000000
500000000
0
2016

2017

2018

Year

2019

2020

2021

Financial Services
Consulting + Enterprise Services
Credit Value