> I was under the impression that the size of the online porn industry is in the billions. And yet, the article states that Thylmann bought pretty much every competitor with just $362 million. That doesn't add-up. What am I missing? Are the rumors for the industry's size overstated?

Maybe he just bought up the competing free content sites for $362 million. Maybe the production companies made billions in the past when the industry was more profitable, who knows what they make now.