If it's more efficient, how come they are complaining so much about how they're struggling to make money? P2p is way more efficient than what they want (build+power+staff theatres, rental stores, retail stores, manage supply chains, etc.)
It isn't about efficiency. It's about giving stuff away for free versus charging for it.
As one guy above put it, if you lay out a bunch of hotdogs on a table and let people take them for free, you'll give out a whole lot more than the guy next to you who is charging for them and handing them out one by one.
The Internet wins and will always win.