Limewire Forced To Pay Labels $105 Million

The popular file sharing service which was shut down last year has finally been put to rest after agreeing to pay a settlement to major labels.

Limewire Forced To Pay Labels $105 Million
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Limewire, the peer-to-peer file sharing service, heard it's death knell today when it finally settled with the major labels at $105 million. If that sounds like a lot of money, you should think the Limewire owners lucky - the labels originally wanted more than $1.4 billion in damages. A judge ordered the closure of the service last year after the US record industry blamed Limewire for a 52% slump in music sales. However, CMU report that critics said this was misleading, arguing that CD ripping and the labels missing an opportunity with Napster was also to blame. There is also suggestive evidence that the ability to buy single tracks rather than full albums affected overall music revenue. Despite this, the labels consider the death of Limewire a huge victory. "We are pleased to have reached a large monetary settlement following the court's finding that both LimeWire and its founder Mark Gorton personally liable for copyright infringement," said RIAA Chairman and CEO Mitch Bainwol in a statement. He continued: "LimeWire wreaked enormous damage on the music community, helping contribute to thousands of lost jobs and fewer opportunities for aspiring artists This hard fought victory is reason for celebration by the entire music community, its fans and the legal services that play by the rules."

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    LeFtY_hAnDs420
    I think its good that limewire is gone but i don't think there is a chance in the world that the music industry will prosper from the cash because it will be lining record big wigs pockets along with some of there lackdog sellout "Artists" perhaps.
    Gigsy
    I used to feel bad about downloading music, but then I watched MTV cribs.
    flecktowned
    well the good news is by the time they take down torrents there will have already been another way to pirate music around for 5 years
    Kung Fu Kai
    Funniest thing about this though is none of the money will go to the artists...just the companies. Thats why Radiohead released a single for free remember!
    webber243
    jlyndon666 wrote: No matter what, you're gonna by your favorite band's albums. Record sales means shxt to the artist. They don't see any of that money anyway. F**k these big record labels! All they're about is... "How much can WE make of this artist?"
    if there wasnt record labels there wouldnt be a music industry and you probably wouldnt have heard of most of the bands u like because they would have given up, knowing that they cant make any money. idiot
    ninfan200
    jrodgers wrote: Didn't realize people were even still using limewire. Hope pirate bay doesn't go down next
    dude the pirate bay has survived a lot more than what limewires in right now i don't think its going anywhere
    mr.mangum
    All the while, RIAA/Record Labels still putting their collective dicks in the artists ass. Yeah, we're the thieves.
    maximumrocker
    Mr Pringle wrote: Limewire only had the following things: Viruses, product placement and porn. It downloaded slowly and only one song at a time, not to mention that no one has used it in years. Now look at the amount of people that torrent the hell out of movies, TV shows and bands. Why don't they just target downloading torrents? WAY TO KEEP UP WITH THE TIME GUIZEE!!!!!
    SHHHHH dont tell them
    jlyndon666
    No matter what, you're gonna by your favorite band's albums. Record sales means shxt to the artist. They don't see any of that money anyway. F**k these big record labels! All they're about is... "How much can WE make of this artist?"
    PIMO
    geekwhisperer wrote: I will be shocked if actual artists see anything resembling a significant fraction of this money. The RIAA isn't about artists. It especially isn't about aspiring artists.
    THIS
    jrodgers
    Didn't realize people were even still using limewire. Hope pirate bay doesn't go down next
    geekwhisperer
    I will be shocked if actual artists see anything resembling a significant fraction of this money. The RIAA isn't about artists. It especially isn't about aspiring artists.
    MisterPudding93
    jrodgers wrote: Didn't realize people were even still using limewire. Hope pirate bay doesn't go down next
    You know it will, there have been alot of recent crap on the news about gov shutting down torrent sites like piratebay...either or, that sux indefinitely...
    COBHC_Erick429
    lol limewire still exists? get with the times, rapidshare/mediafire/torrents has where ive been for YEARS now.
    slaveskinJACKET
    Stupid auto corrector. I said, "Support the music that you enjoy." Not, "Support the music thawing. Enjoy!"
    slaveskinJACKET
    They didn't do any more damage than any other file sharing program. The thing that hurt Limewire most is that their name is easy enough for any idiot to say and spell. My sister is computer illiterate, but she sure enough had Limewire on her computer and used it to get much of her music. WinMX and Shareaza were much better programs, but I don't remember anything like this happening with them... they just went to shit. But if you like an album, buy it. Support the music thawing enjoy.
    Mr Pringle
    Limewire only had the following things: Viruses, product placement and porn. It downloaded slowly and only one song at a time, not to mention that no one has used it in years. Now look at the amount of people that torrent the hell out of movies, TV shows and bands. Why don't they just target downloading torrents? WAY TO KEEP UP WITH THE TIME GUIZEE!!!!!