Saving IP Transit Bandwidth, and Faster Route: Internet Peering

Today internet is rather different with few years ago.  Few years ago, internet is very dependent to Tier 1 ISP.  If you have many Tier 1 IP Transit, you can have better internet access, because more route can you reach with best path. 
Today internet is more distributed.  Global content providers have their own network, and locate their servers at many data center at many region or continent.  It give more balanced traffic, and break dependency to Tier 1 ISP.  Also, regional ISP locate their router, and have own to link to one or more global data center, to reach global content provider and give possibilty to direct peer with others.   This architecture give today internet more distributed traffic, and more better route.
The prerequisite if you want peer with regional ISP, global content delivery, or global content provider is to have colocation at global data center, like Equinix, LINX, and others.  Check the data center that have Internet Exchange, and who are there through PeeringDB.  Register first, it's free, then looks for internet exhange, their customer.  Many content provider, content dlivery, or regional ISP is better.
Global content provider like Google, Yahoo, Microsoft are open for peering.  It give you benefit by saving IP Transit bandwidth, that must you pay, and give shorter route.  For example, Google,about 30% of my internet traffic is coming from them.