Words are important. They are loaded with personal experiences, memories of past events, and emotional baggage. The kind of words you use has a profound effect on your interlocutor and entirely frames a discussion. This is most evident in political campaigns where legions of campaign operatives are trying to promote usage of some words in connection with their political goals while subverting usage of unwelcome words. Management of words used in public discourse is also one of the most important tasks of brand management and billions of dollars are spent for that purpose. One of the most successful recent inceptions of word usage is the successful correlating of words content and consumption by Hollywood and recording industry as part of their futile endeavor to control distribution of content on the web. The following chart speaks volumes about success of their campaign.
Word consumption means to "destroy or expend by use". Movies, music, books, and other content is most definitely not destroyed or expended by use. But if you're a copyright holder and you want to equal unlicensed content sharing with stealing, consumption is the perfect word to frame the discussion.
I think the only thing that has been stolen in this case is the public discourse. Therefore I would encourage everybody to start saying that content is enjoyed, rather than consumed. In my opinion the word enjoy is much better description of what people do with content and the one that should be used in the discussion about the status of the content in our society.