Music Gear News
LimeWire has agreed to pay $105 million to record labels
File sharing website LimeWire has agreed to pay $105 million (£64 million) to record labels in an out of court settlement after a long historic battle finally came to an end.
The owners of the now defunct music software, film and media sharing website, will pay 13 companies this large financial bill for allowing people to illegally share music.
Mark Gorton, the website's creator, finally reached an agreement with the Recording Industry Association of America (RIAA). The courts had viewed Mr Gorto as having "infringed copyright and aided others in downloading pirated music".
Mitch Bainwol, chairman of the RIAA, said: "As the court heard during the last two weeks, LimeWire wreaked enormous damage on the music community, helping contribute to thousands of lost jobs and fewer opportunities for aspiring artists."
According to CNET News, over a ten-year period, LimeWire helped "facilitate the mass piracy" of billions of songs.
What now remains to be seen is how much of that settlement figure filters down to the musicians whose creative endeavours are at the centre of this story, with many hoping they are suitably remunerated.
In other news, the British Recorded Music Industry (BPI) revealed that digital music sales in the UK had passed the £1 billion mark, seven years after digital downloading officially launched.Posted on 14 May 2011 16:33 to category : Music News
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