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article imagePirate Pay: Record Companies Can Go Screw Themselves' In Multi-Million Dollar Demand

By malan     Apr 4, 2008 in Business
The International Federation of the Phonographic Industry is demanding that The Pirate Bay pay them $2.5 Million for injury to the record companies, the artists and the copyright holders that are sustained via their popular P2P file sharing network.
Gottfried Svartholm Warg, one of the founders of the Pirate Bay said that (and I quote) "record companies can go screw themselves" when asked what he thought about the $2.5 Million demands.
WIRED.com reports that The IFPI (The International Federation of the Phonographic Industry) made their claim in a Swedish court after indicting the website owners for copyright infringement violations they claim were committed by the sharing of 24 albums, 9 films and 4 video games on the Pirate Bay.
The music industry claims that damages they have actually incurred are much, much higher than the small sum hey are asking for. The head of the of the Swedish chapter of IFPI said that the $2.5 was merely "representational" of great damage.
This damages now being demanded are based on the albums which the prosecutor has included in his indictment. The injury to the record companies, the artists and the copyright holders caused by The Pirate Bay’s illegal activity is many times greater.
Gottfried Svartholm Warg says he and his fellow founders laughed at the lawsuit when they got it. He said he thinks that the $2.5 Million amount was randomly calculated by multiplying the number of times the albums were downloaded by the full price they sell for in stores and it's way too high.
"As usual, we're not too concerned"
He went on to explain that "[The IFPI's] numbers are pure fantasy," and that there are no actual damages to the labels, the bands or the copyright holders because they cannot prove that anyone would have paid full price for the albums had they not been able to download them.
Will the music industry get any money out of The Pirate Bay? Most likely, they will not as it will be impossible to prove their damages in court. Will the ancient business models of the music industry ever catch up to the ever changing technology of digital music?
More about Pirate Bay, Record labels, Damages
 
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