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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  1. identicon
    Michael, 14 Dec 2009 @ 8:56am

    Interesting to watch

    It will be interesting to watch this carefully. At some point, they may be forced to disclose exactly how much is owed and to whom.

    It would not be shocking to find out they do not know who they owe. In fact, I think it would be shocking to find out they actually are accounting for who they owe money to and exactly how much they "should" be paying out. I hope they end up having to open their books a bit. We may find out the answer to the big question "Are these collection agencies inept at book-keeping, or do they know what they owe the artists and are actively ripping them off?"

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