I’m not sure if you read this yet, but I just heard about how some artists in Canada have gotten together to sue the major records labels $6 billion, for doing exactly what the major record labels are suing teenagers and single moms for: piracy. Oh, the irony!
Apparently, since the 80’s, Warner Music Canada, Sony BMG Music Canada, EMI Music Canada, and Universal Music Canada all used their artists’ music without permission on compilation albums, and then produced something known as the “pending list.” The labels would use the tracks without waiting for authorization or making payment to the artists, thus adding the song to a list of music that is pending authorization and payment.
Basically they were saying “cross my heart and hope to die….stick a thousand needles in my eye,” adding more and more songs to this pending list. Now with this lawsuit emerging, the labels are expected to pay anywhere from $50 million to $6 billion to the artists they scammed. I also recommend that after they pay up, they should drop every lawsuit they have against so called “music pirates.” Isn’t this the pot calling the kettle black?
Although I doubt this will kill the major labels, I hope this sends a clear message to them: that we as artists will not tolerate a failed business model any longer, and we will not tolerate corrupt executives, whose only concern is lining their pockets and their expense accounts, and not the artists well being and creativity.
No wonder Warner Music Group stock keeps falling.