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Set the break-even for an exclusivity premium at the number of non-exclusive licences it would stop

Take each licence at the same price: an exclusive offer beats N non-exclusive licences only if it is more than N times one of them. Troveo's own example prices four non-exclusive licences at 100 each (400) against an exclusive offer of 150 or sometimes 200: the exclusive offer is 37.5 to 50 percent of what four licences return, and it would have needed to be 4 times a single licence to match. Epoch AI's 4 to 5 times (RL environments) would just match or beat four licences. Reddit's data is licensed to two buyers, reported at about 60 million (Google) and about 70 million (OpenAI) dollars a year, 130 million together: an exclusive buyer would have to pay more than about 1.86 times the larger licence (130 / 70) to leave Reddit no worse off. By the same arithmetic, the one disclosed pair (23andMe, 2.5 times, different scope) is beaten by three non-exclusive licences at the same price, and the platforms' 1.25 to 1.94 times by two.

Dated 30 Oct 2026Source checked 30 Oct 2026Basis: indicative

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