When P2P Came Along We Failed, Admit Label Bosses

Having been destroyed by the world’s largest recording labels, the LimeWire file-sharing service is little more than a corpse at this stage. Nevertheless, its destruction and burial is not quite over.

This week LimeWire has been facing off with the record labels before a jury in New York to decide how much in damages it will have to pay. It could be more than $1 billion dollars but, as I think one of the Pirate Bay founders once said about the damages awarded against them, we’re not paying it so why not make it a trillion?

Whatever the outcome, it’s going to sting LimeWire boss Mark Gorton in his back pocket in a very, very large way indeed.

But when it comes to P2P, its growth and the war that’s been raging against it for more than a decade, who is to blame? Surprisingly, according to several key industry figures, it’s the labels’ fault.

Some interesting quotes for your perusal…..

“The real problem is that there is no technology coming from the record companies.”

– Doug Morris, former CEO of Universal Music

“We inadvertently went to war with consumers…consumers won.”

– Warner Music head Edgar Bronfman, Jr.

“We can [compete with free]. We have to. It’s just that we have to be creative and add value.”

– Universal Music CEO Zach Horowitz

“Burning and ripping are becoming a greater threat than P2P.”

– RIAA chairman Mitch Bainwol

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