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

Yawn...

[moosesocks]

Imeem's missing the point. One of the biggest positive points of P2P is that the record companies, radio conglomerates, have absolutely no say over the selection and presentation of content.

What we're seeing here is the Record Companies trying to appeal to our better judgement, while making one last effort to maintain an iron grip over their content. And it's just not going to work.

You see.... last year was arguably one of the best years on record for independent artists and labels for this very reason. The amount of *great* content being released by small labels was staggering to say the least, and I'd be pretty certain that more than a few of these artists got their "big break" via P2P.

Meanwhile, the talent on the major labels was.... crap... to say the least, and it has nothing to do with the inevitable backlash that occurs between generations. Most of the "Top-40" artists are untalented, formulaic, and absolute rubbish.

The crackdown on P2P, and the agreement with Imeem is at least in part trying to mask the fact that the RIAA's members have completely lost the ability to identify and sign new talent. On the other hand, the indie labels have gotten quite good at it.

The days of rock stars with million dollar salaries are over. The labels need to accept the fact that music is going to become increasingly diverse over the next several years, and that their old strategy of promoting a very small number number of superstar artists just isn't going to work any more.