Record Labels Change Minds About Sharing MP3s

Mass Defect writes "While the RIAA continues to sue people for p2p file sharing, the record labels have made an about-face and given their blessing to users sharing MP3s via the social networking site imeem.com. In May this year the site was being sued by Warner for allowing users to upload photos, videos, and music to share. However to everyone's amazement, instead of being flattened, imeem.com managed to convince the label that this free promotion was a good thing. In July imeem.com signed a deal with the label. Since then the site has added Sony, BMG, EMI, and now the biggest fish of them all, Universal. Imeem now has the royal flush of record labels supporting its media-sharing service, each getting a cut of the advertising revenues generated by their catalog. Finally someone has figured out a way to do 'YouTube for MP3s' without getting sued out of existence."

Comments

Re:A couple of choice comments on the announcement

[ATMAvatar]

No, the copyright system isn't broken. Copyright has worked well for over 200 years in this country. (The patent system is another story). Now laws like the DMCA that criminalize what would otherwise be legitimate acts...that's broken.

Some would argue that the current copyright system is broken.

The original system where a copyright:

• Had to be registered
• Lasted 14 years
• Provided for an additional 14 year extension if applied for

was far more sane than what we have now.