Artists: Don't Expect To Get Paid For What Imeem & Snocap Owe You
from the sorry,-too-bad dept
We always hear the record labels and politicians screaming bloody murder over the concept that musicians aren't being paid "what they're owed" due to piracy -- but when there's a situation where musicians might actually not be getting paid what they're owed? Silence. A few weeks back, MySpace "bought" Imeem in a fire sale. But, the details of the deal suggest they didn't actually buy the company, but "certain assets," which means they get to ignore the liabilities. Guess what those liabilities include? You got it: paying artists what they're owed. Now, as the Wired article notes, there's nothing technically wrong with MySpace acquiring just the assets, but it is notable that it's the musicians left without getting paid what they're actually owed (not some theoretical concept like what they might be "owed" due to unauthorized file sharing). And, yet, we don't seem to hear any politicians or record labels screaming about this. Funny, since they keep insisting that they're really just interested in helping artists...
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Filed Under: copyright, money, music, paid
Companies: imeem, myspace, snocap
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Re: Re: (I don't have a Ferret)
Now, there are plenty of nefarious people in the world, but if you think this was the plan all along (we'll lose a ton of money and nose dive into bankruptcy so we can avoid paying artists), I've got some oceanfront land in Nebraska to sell you...
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