RIAA Receives $105M from Limewire Dispute, None for Artists
The RIAA and Limewire have made a large compensation settlement of $105M for all the money Limewire's presence cost the record industry. The money, RIAA claims, is to promote a stronger anti-piracy force and will not be given to any artists affected by the large P2P organization. Limewire had targeted the users of the original Napster and built its business around their needs. After the injunction with Limewire was filed, they immediately took down all of their clients but record labels and music publishers seeked to recuperate all of the money that Limewire had cost them. During last week's trial at New York's federal court, the RIAA supplied the jury with 9,715 tracks of evidence against Limewire and agreed on the $105M settlement. RIAA accepted the per track value of $10,808 instead of $150,000 per song that the jury could have awarded. Though the RIAA mentioned many artists in their defense court, all of the money is to be "...reinvested into our ongoing education and anti-piracy programs", says RIAA spokesman Jonathan Lamy.