curlio.com: Kazaa Pays 115 Million to Entertainment Industry

Accounts
News
  Interactive
   Collective
    Contact

now with the highly requested RSS feed.

Kazaa Pays 115 Million to Entertainment Industry

dusty

2006-07-27 23:58:42

Canoe

Kazaa has settled the global piracy issue by paying 115 million dollars to the entertainment industry. additional to the payment, Sharman Networks Ltd. The company that developped Kazaa promised they would "use all reasonable means" to discourage and frustrate users that try to search and download copyrighted music and movies.

The chief executive of Sharman Networks, Nikki Hemming, said the settlement "marks the dawn of a new age of cooperation" between file-sharing services and the entertainment industry. "This settlement ensures that we will be working together with the content providers to the benefit of consumers, businesses and artists," she said.

Except for the fact that if people can't find the files they want to find will switch services to a service where they are able to find the files easily enough. As long as legal services sell single songs for a dollar and less than a few cents go to the artist in the end, people really don't care if the record companies will get their money or not.

Read the full article here.

As long as the Entertainment Industry tries to keep tight to their business model that they have used over the last decennia, they will still be doomed. In the end their actions will bite them back. My estimation is that the legal production and distribution of CD's made in China and sold all over the world is a bigger income loss for the record companies than the people trading MP3's on the internet of songs they would not even consider buying.

Metallica finally caves to iTunes pressure

David HasselHoff turned away from airflight

Article only open for registered members

Obsidious

2006-07-28 13:29:38

Jedi in Drag
	And the obvious question is, how much of this money will the artists see? /crickets chirping

curlio ( Website Owner )

2006-07-28 17:40:46

YATTA!
	they will get their share. But first you have to pay the lawyers. And then the lawyers at the record labels (I'm quite certain they have at least two sets of lawyers). Then you have to pay off the CEOs of the labels, and then the VP, and PR, and well all those other abbreviations. I'm sure there will be a few thousand left over for the artists to split between them.