Artists Sue Major Record Labels For Pirating Music and Get Back Millions

“We’re so Big, we don’t have time for that. We’ll fix it some day.” Or: stuck in a system that obviously no longer works and is costing everybody a lot of money…

The four major record labels that comprise the Canadian Recording Industry Association – EMI Music Canada Inc., Sony Music Entertainment Canada Inc., Universal Music Canada Inc. and Warner Music Canada Co. – have agreed to pay $45 million to settle one of the largest copyright class action lawsuits in Canadian history.

As part of the settlement, the labels will pay approximately $45 million to settle the copyright infringement claims. It also establishes a new mechanism to help ensure that artists are paid more promptly.

The press release indicates that everyone is pleased with the settlement, though it is striking that it took a class action settlement to get the record labels to address their own ongoing copyright infringing practices in paying artists for the use of their works. (via Michael Geist)

Read more at www.newrockstarphilosophy.com

 

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