Tagged With music industry

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Last week the Helsinki District Court decided that Peter Sunde, one of the co-founders of file-sharing portal The Pirate Bay, owes quite a bit of money to the music industry. Specifically, he owes a coalition of Sony Music Entertainment, EMI, Universal Music and Warner Music $US400,000 ($533,429), as reported by Torrent Freak. His response? No, screw you.

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The number of major record labels seems set to drop to a mere three, as EMI has failed to make a deal for North American distribution rights with either Universal or Sony.

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It's a lousy time to be a record label. Profits are tanking, bands are angry - OK Go just ditched EMI - and YouTube and BitTorrent changed the game. Still, some labels are transforming themselves to help musicians in the digital age.