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UK Record Industry Starts Suing Filesharers
An anonymous reader writes "The BBC has the story that the British Phonographic Industry (BPI) has started a first set of lawsuits against UK file sharers. 23 people paid £50,000 to settle out of court. This is the first time people in the UK have been fined, and probably won't be the last. From the article: "We are determined to find people who illegally distribute music, whichever peer-to-peer network they use, and to make them compensate the artists and labels they are stealing from."
When will the record companies learn, if they price there product in an affordable price range, people will buy.
r ow ing.fast/
Apple has sold approximately 85 million songs in the first two months of 2005, surpassing Piper Jaffray's initial estimates for the entire March quarter. Based on Apple's earlier announcement of 300 million total tracks sold, Senior Research Analyst Gene Munster says that iTunes sales could account for $83.2 million in revenue in the March quarter--or about $35 million more than the firm has been estimating. The firm also believes average daily sales rate has been 1.35 million per day since late January, which very similar to the 1.43 million daily run rate (i.e., sales of songs) in the weeks following the holidays. "We had been anticipating a more significant drop off in iTunes sales from the levels seen in the weeks following the holidays."
In addition to driving iPod sales, the firm says that Apple's iTunes Music Store will also contribute significantly to the company earnings: while it estimtates that the current operating margin on iTunes is in the low single digits, Piper Jaffray says it believes iTunes profitability will begin to increase throughout 2005, with operating margins reaching 5% to 10% in 2006.
http://www.macnn.com/articles/05/03/02/itunes.g
This isn't £50,000 each - it's £50,000 total. To quote TFA:
The average compensation payment was £2,200 each, with one person paying £4,500.