Foxtel boss Peter Tonagh has confirmed the pay TV provider will launch legal action against people who streamed the Danny Green versus Anthony Mundine boxing bout on social media.

Key points: Thousands of people watched Danny Green take on Anthony Mundine for free

Thousands of people watched Danny Green take on Anthony Mundine for free Foxtel was charging customers $59.95 to watch the much-anticipated bout

Foxtel was charging customers $59.95 to watch the much-anticipated bout However, several fight fans streamed the broadcast on Facebook

One lawyer said people who live-streamed the event on Facebook could face fines of up to $60,000 or five years in prison.

The bout between the two veteran fighters was billed as the most anticipated in Australian history, with 28,000 fans at Adelaide Oval watching Green claim a controversial win.

Foxtel was charging customers nearly $60 to watch the fight on its Main Event channel.

Danny Green lands a punch on Anthony Mundine during their bout. ( AAP: David Mariuz )

Streams of the bout and undercard, which included rugby star Quade Cooper, on Facebook attracted hundreds of thousands of viewers and angered the event's promoter.

Brisbane man Darren Sharpe said he received a call from a Foxtel representative, asking him to stop his bootleg broadcast, and a recording of their conversation was uploaded to YouTube.

How does the copyright work? TV sports rights are big business, and broadcasters pay a considerable sum for exclusivity

TV sports rights are big business, and broadcasters pay a considerable sum for exclusivity In Australia, most boxing bouts are available as "pay-per-view" only

In Australia, most boxing bouts are available as "pay-per-view" only Streaming your own videos of sports broadcasts contravenes Australian copyright law

Streaming your own videos of sports broadcasts contravenes Australian copyright law Whether people who watch the stream can be charged is a legal grey area

Mr Sharpe has started a Go Fund Me page saying: "Please donate in case I end up getting sued."

Mr Tonagh, Foxtel's chief executive, confirmed the broadcaster would take legal action against the people who initiated the Facebook videos

"It's very clear to us that he knew that what he was doing was illegal. We advised him that what he was doing was illegal," he said.

"We stopped the streaming of the content to his set-top box on the basis that it contravened the terms of use of his residential subscriber agreement."

'People are stealing off us'

One of the fight's promoters, Justin Manolikos — a long-time friend of Green — blasted people watching the fight for free.

"It's stealing. It's no different to video piracy or music piracy," he said.

"What it's showing, whether it's Facebook or Twitter or whatever is that the pay-per-view model has major issues from a piracy point of view.

"Companies like Facebook need to have good, hard look at themselves. They don't care. They're getting something because other people are stealing off us."

Mr Sharpe's tense exchange with a Foxtel representative came during the sixth fight on the card, between Cooper and Jack McInnes.

Darren: "Sorry mate, I just had to chuck that on mute. So you want me to turn off my Foxtel because I can't stream it?" Rep: "No. I want you to stop streaming it on Facebook. Just keep watching the fight at home, there's no dramas with that. Just don't stream it on Facebook." Darren: "Mate, I've got 78,000 viewers here that aren't going to be happy with you. I just don't see why it's [not] legal. I'm not doing anything wrong, mate. What can you do to me?" Rep: "It's a criminal offence against the copyright act, mate. We've got technical protection methods inside the box so exactly this thing can't happen." Darren: "Bullsh*t." Rep: "It's against the copyright act of Australia mate." Darren: "Unbelievable."

Streams drew more than 150,000

Another man who streamed the bout, Brett Hevers, said he had not done anything wrong.

"I streamed the Mundine and Green fight mainly just so a few mates could watch it. A few people couldn't afford the fee or didn't have Foxtel so I just thought I'd put it up for them," he said.

"All of a sudden 153,000 people I think at the peak were watching it."

Sara Delpopolo, a lawyer specialising in social media who founded the International Social Media Association last year, said the streams could have denied Foxtel millions of dollars.

"This sort of issue raises some massive gaps in the protection mechanisms provided by social media platforms," she said.

"This is something that arises out of social media platforms and the new technologies they are introducing.

"Up until now we've seen bit-sized personal videos and showing of third-party content but not to the extent of this. I'm surprised it hasn't happened sooner."