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July 29, 2012 01:05 pm

IFPI Won't Share Pirate Bay Damages With Musicians


An anonymous reader tips this news from TorrentFreak:Earlier this year the sentences against the Pirate Bay defendants were made final. Aside from prison sentences, they will have to pay damages to the entertainment industries, including €550,000 to several major music labels. The court awarded the damages to compensate artists and rightsholders for their losses. However, it now turns out that artists won’t see a penny of the money, as the labels have allocated it to IFPI to fund new anti-piracy campaigns. ...While it may come as no surprise that the music industry has a hard time getting money from The Pirate Bay defendants, what comes next may raise a few eyebrows. 'There is an agreement that any recovered funds will be paid to IFPI Sweden and IFPI London for use in future anti-piracy activities,' IFPI writes. In other words, the money that the Court awarded to compensate artists and rightsholders for their losses is not going to the artists at all."

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/TPJopVf54f4/ifpi-wont-share-pirate-bay-damages-with-musicians

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