After 10 years and numerous attempts to combat it, file sharing remains the biggest thorn in the media industry's side. While the true financial impact of file sharing remains a contentious topic, it has permanently shaped consumers' expectations of digital media and altered their relationship with content providers. However, file-sharing networks have many shortfalls, and the media industry can compete by addressing these gaps. The media industry should also work with ISPs to leverage their relationship with subscribers and draw them off peer-to-peer (P2P) networks with compelling alternatives.