RIAA Keeps Settlement Money, Artists May Sue
Despite collecting an estimated several hundred million dollars in P2P related settlements from the likes of Napster, KaZaA and Bolt, prominent artists’ managers are complaining that so far, they haven’t received any compensation from the labels. According to a lawyer, some are considering legal action.
When EMI, Universal Music and Warner music reached settlement agreements with the likes of Napster, KaZaA and Bolt, they collected hundreds of millions of dollars in compensation - money that was supposed to go to artists whose rights had been allegedly infringed upon when the networks were operating with unlicensed music.Now, according to an article, the managers of some major artists are getting very impatient, as it appears the very people who were supposed to be compensated - the artists - haven’t received anything from the massive settlements. They say the cash - estimated to be as much as $400m - hasn’t filtered through to their clients and understandably they’re getting very impatient.
Lawyer John Branca, who has represented the likes of The Rolling Stones and Korn, said: “Artist managers and lawyers have been wondering for months when their artists will see money from the copyright settlements and how it will be accounted for.”
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