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

Holy fucking shit

[sm62704]

Jesus, I've been saying that file sharing is GOOD PROMOTION forever (just check my slashdot comment history). I've also been saying that these goobs can't be stupid enough to understand that, that they're against file sharing to keep the indies out of their ears. (So maybe I shouold be modded "redundant?)

Yesterday I posted that the indies were going to eat the dying RIAA labels' lunch (not in those words).

Is it April already?

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-1 "Redundant"

[sm62704]

Mods have a sense of humor today. Good job!