LimeWire Settles For $105 Million
eldavojohn writes "LimeWire has settled its suit with the RIAA for $105 million. It's several orders of magnitude lower than the $1.5 trillion initially demanded by the RIAA, but it ends a nearly five-year legal battle. P2P networks take heed; the monster may start looking for other targets."
There is plenty of music that is free and legally free. Find small artists that release MP3s then buy an album from them if you like enough (Edgen). Use Spotify if you can.
Buy second hand, RIAA gets nothing. I can live without new music. If you can't control your impulses, RIAA will never die. I'm waiting for the most recent Duran Duran album to get cheaper.
Slashdot needs Geekcode | Can anyone recommend any good SCIFI? My tastes: Foundation, Startide Rising, CITY, Ringworld,
Are they going after streaming website and streamers as well? Can somebody provide good info on this? Thanks
I do not believe in karma. "Funny"=-6. Do good and forbid evil. Yours, Oft-Offtopic Flamebaiting Troll.
hint, hint, nudge, nudge.
You get the picture.
Yours In Moscow,
K. Trout
Are they looking to pay off the deficit?
... they're not going to be starved out by people avoiding retail outlets and RIAA-affiliated publishers any time soon.
Bantam Dominique roosters crow a four-note song. Once you've heard it as "Happy BIRTHday" you can't NOT hear it that way
Limewire has announced a strategic partnership with L1mew1re, wherein any assetts of value of Limewire will be transferred to L1mew1re, which will maintain said assets and lease their use to Limewire.
Limewire's company attorney, while available for comment, was unable to complete a sentence without screaming "bankruptcy, you bastards!!" randomly, mid sentence.
I have no problem with your religion until you decide it's reason to deprive others of the truth.
Having facilitated the mass piracy of billions of songs
So, the RIAA settled for $105 million after determining that Limewire helped people pirate "billions" of songs. Shouldn't that, then, set the value of "a" song that is shared? A conservative estimate of 2 billion songs for $105 mill is, what, about a nickel a song? Should use that value when determining damages against Jammie Thomas and anyone else.
JM convoluted O, of course, but I'm not the one settling for relative peanuts.
I'm wondering where the hell Limewire got $100m in the first place? What part of their model made them that kind of money?
What amazed me about this story was that Limewire had that kind of money in the first place...how did they get it?
This money get used to push internet censorship bills like COICA and Protect IP through congress, and into Obama's pocket in exchange for appointing their lawyers into powerful government regulatory positions. The RIAA has very little to do with music. It is an evil organization and currently one of the biggest threats freedom and privacy both in the US and around the globe.
During his damages hearing last week, RIAA lawyers suggested his net worth was larger than that. They noted he possessed $100 million in an IRA account. His Manhattan home is worth more than $4 million. In addition to Lime Wire, Gorton operates a hedge fund and a medical-software company. Gorton's lawyers claimed in court that he made little money from Lime Wire. Maybe, but records show the privately owned company generated $26 million in revenue in 2006 and sales climbed dramatically after that. During most of Lime Wire's 10-year history, Gorton was chairman, CEO, and only board member.
Disclaimer: I'm the submitter so I'm probably the only person that read the article which gives me an unfair advantage.
My work here is dung.
that's why the decision doesn't matter financially.
business folds in the face of a laughable settlement it'll never be able to play.
founders go on to found other, perhaps similar businesses. perhaps very similar. lemonwire, orangewire, or kiwiwire coming your way soon!
it's all about the RIAA getting the message out that they are serious and will dropkick you right in the wallet.
http://en.wikipedia.org/wiki/Limewire#Criticism
Apparently, because it was a subscription service:
They also claim he's got over $100M in an IRA account.
I never used it, so I have no idea of what the revenue source was (ads + subscriptions?)... but he must have made a fair pile to have that much banked. And, apparently he made most of it selling someone else's stuff. I've no idea of what kind of business model he had ... but apparently it was lucrative, and somewhat illegal.
Lost at C:>. Found at C.
A: Zero
>Where the settlement money will go is hard to tell. In similar cases in the past, the RIAA has split up big awards with the four member labels. How much of the money goes back to the artists is unclear
OH! CAN I MAKE A GUESS? HUH? CAN I? PLEASE? PLEASE LET ME TAKE A GUESS?
HOW ABOUT ZERO? DOES THAT SOUND ABOUT RIGHT? HOW DID I DO?
--
BMO
The warez scene has gone DDL and one-klick hosters anyway. And if they crack down on one of the latter (like they did with Rapidshare and Hotfile), it just means better business for others.
Moral implications of copying aside, the RIAA and its consorts are fighting windmills. You can't fight the Internet, period. They should have learned this lesson long ago (in 2000, after Napster) and adjusted their business models accordingly, but they still think takedown notices and prosecution of a few hapless users will make their so-called "piracy" go away. It doesn't. A few hints:
But what happens when someone makes an Android app to bluetooth "squirt" (yes I stole this term from MS Zune, it's so messed up it's awesome) music back and forth and gives it away for free? When I'm not trying to profit from it they might try and ruin my life, I suppose, but it will be for no financial gain and 1000 copycats can do the same with little effort. Tracking down users might be a royal bitch too, localised is king. We'll have pocket sized, 2TB devices by the end of 2011.
Face regardless of any moral merits/demerits this IS going to happen, it's happening now, and it's only going to happen faster and more intensely as time goes on. Commodity hardware is getting dirt cheap, these devices may not 100% be funneled to us via huge corporate interests soon, the "hardware version" of the Linux and OSS revolution is happening before our eyes.
This $105M recouped from piracy will come in handy!
Oh, wait...
Violence is the last refuge of the incompetent. Polar Scope Align for iOS
Changes nothing though... Limewire was just a UI for Gnutella, which will continue on. The only change is that there will be no new Limewire versions in the future. All the more room for Frostwire, Cabos, etc....
;) i just don't use it much anymore.
And yes, my Cabos still works
I acquired more music using Maxell cassette tapes than I ever did with any p2p software. In any given college dorm pre-internet era, you spent a good chunk of your available time taping floor-mate's records. After all, why else would you buy a 90 minute chromium oxide cassette if not to record two 43-minute LPs? On the equipment I used at the time, you couldn't tell the difference in quality, so why doesn't/didn't the RIAA go after Maxell, TDK, Memorex and the other manufacturers of high quality cassettes?
Limewire didn't kill the music industry. The music industry killed the music industry.
It sounds like this was simply the "cost of doing business". The settlements seems like it would be little of a deterrent to someone starting another Limewire. This guy profited it sounds like from the settlement. Unless there is jail time and or forfeiture of assets (at least the profit) it sounds like we/he won. Not the RIAA. Yea- the RIAA made some money here. Unethical in how they did it (strong arming a legitimate business through the legal system despite its claimed use by those committing copyright infringement- but so are web browsers).
Why the RIAA continues to pillage people for not buying CDs and downloading music just blows my mind.
I stopped buying CDs recently for the sole reason in that they get destroyed too easily. I only use them in my car, and when I'm driving around I tend to toss them onto my passenger seat or into the glove box when I'm changing them. So along with all my other crap I carry around in my car, if I change them around a few dozen times then there's scratches all over the damn things and some of the songs don't play anymore.
Yes I could go and buy a CD holder but I hate having crap hanging off the sun visors. Along with the fact that directing my attention to carefully removing and replacing CDs in a holder isn't exactly what I should be doing when driving. I suppose I could be more careful but I don't tend to put much focus on caring for a disk when I'm flying down the highway at 115km/h.
Now if they sold USB sticks or SD cards with MP3s on them or something, I'd buy that. They really need to innovate...
The weakness of Limewire is that it had a central server operating as the address lookup list for peers. This can be shutdown and the network turned off.
If instead, all the peers kept a list of all previous active addresses, then when they went to access the network, they'd find some who are static IP just by chance, and then when they're on the network, they'd get a list of all the true addresses there.
I came up with this idea when they shutdown Napster. P2P is great for video games too in case you don't want to pay all the money for an expensive central server. P2P could even be used to unroll an uncensored version of a search engine in governments that censor it(bring democracy to the people if that is a goal of yours). Also you can have a really nice proxy system with P2P.
I could write this software myself, but I'm busy with better projects. My question is,"Why hasn't this already been done?"
They also claim he's got over $100M in an IRA account.
So... Gorton is an Irish terrorist?
When our name is on the back of your car, we're behind you all the way!
...seeing as how the music is still alive and suing.
Limewire is owned by the Lime Group, which also owns hedge funds and other companies that worth billions of dollars. This is one of the reason RIAA went after Limewire, because the potential payout is huge. The $100m will be paid by Lime Group.
Serious. Havent we wasted enough time/money on the media mafiaa yet... Lets just get rid of them.
Keeping them around is not a good idea.
In the current situation.. I think its kinda stupid to buy an album of an artist you've never heard.. either you get to hear a few songs.. or believe in the artist.. or god forbid take the record labels word for it.. otherwise makes no sense buying it outright. Flashback: I was a kid maybe 13 yrs old in a suburb in a southern city called Hyderabad in India... with only one shop selling music within 6-8 km radius of my house... past which me and my trusty bicycle couldn't deal with the chaotic traffic... and what do they sell? the poppiest of pop... n some really mainstream rock...(its like you just cannot find non-mainstream artists anywhere in the whole state).. you tend to start liking whatever you can find in such cases... n thats really not cool... thats just ignorant.. you start to think lame music is THE SHIT! Atleast once.. i bought an tape of britney spears... costed abt 3$.. went back an hour later and pleaded for a return and exchange... (Currently, i listen to only talented artists who compose beautiful music, not insane teen sexual ravings).
There's something not right about all this... if its gonna take forever (i mean never release.. "Screaming Trees" is one of my fav bands... would never have released anywhere out of Seattle for all i know). So, for the latest album of some other favorite artist who is pretty much unheard where I come from.. am I supposed to just not listen to it? Yes, I will in the future contribute to my favorite artists. I think its good that google and amazon and even ubuntu and other popular services which are still not so popular around here.. are rolling out music services... yes i would like to support my favorite artists but new distribution mediums are needed for that.. Don't fight the internet RIAA, work with it.. or else GTFO..
The last person to mod me down is a rotten egg..... there.. that should do it..
Comment removed based on user account deletion
So they went from 1,500,000 million to 105 million USD, or 0.007% of the original demand. Why so generous, RIAA?
My UID is prime. Hah!
can't they just go chapter 11 or 13 and not have to pay the stinking RIAA anything?
Take a look at the "Lime Group" Limewire was just a toy for one of the guys who ran the Lime Group.
...or wait, I guess they get nothing!!!
Who do you think owns almost all the media, including the music industry? Only $1.5 trillion? They were asking for only $1.5 trillion? What next? We'll have Jews working down mines, and picking crops next.
Oh, wait...
Jews don't DO those jobs, EVER, do they.
Can anybody explain why?
Not difficult to save the youtube videos into mp3s. Or just buy from gomusic.ru for $0.09 a song.
The RIAA is just an extortionist racket. They deserve to be punished.
Something smells fishy. A hundred million dollars is a fucking huge pile of money; many companies with far more market impact than Limewire would have trouble coming up with that kind of cash. Where the hell did Limewire get all of that, especially considering that the vast majority of people were using the free version?
even if you don't call it 'stealing.'
You know why we don't call it stealing?
Repeat after me:
Copyright infringement is copyright infringement. It is an entirely different action from theft; it has an entirely different legal basis than theft.
Congratulations, RIAA. -- Guy who obtains all his music legally and would rather support overpaid industry execs than organized crime (cue stupid responses saying they're the same thing).
"Outdated business models" is code for "I don't like paying for things, but want them anyway"
Uh, I suppose I could be wrong about this, but I highly doubt RIAA would agree to, and a judge would sanction, a settlement agreement that one party can't even begin to abide by. I suspect this settelement indicates that Limewire actually has much more than $100 million to spare.
"Outdated business models" is code for "I don't like paying for things, but want them anyway"
Ask Fred Goldman how much of the money OJ owes him has actually been paid.
Why don't YOU ask Fred Goldman if he and OJ entered into a settlement agreement? (Hint: the answer is NO).
"Outdated business models" is code for "I don't like paying for things, but want them anyway"