No One Will Invest In Music – or will they?

In an Undercover.com.au article by Tim Cashmere, U2’s The Edge comments that something must be done to save the music industry. See the article here: http://undercover.com.au/News-Story.aspx?id=9831

When bands like U2 realize that their music is seemingly decreasing in value, the world pays attention.

The reality is that U2’s music is probably shared more now that it has ever been shared via peer to peer sites and other file sharing networks. An estimated 95% of the music activity in the digital space is on non-commercial sites and not currently paid for.

The S.A.C. is proposing a model to remunerate music creators for the use of their works for files shared on P2P sites and other bit torrent sites. A fair monthly fee to creators and rights holders for this use of their work will offer a revenue stream where there hasn’t been one since the first file sharing site started 10 year ago (Napster).

The fee would be collected at the point of access of the users music (ie: internet service or mobile providers) and then paid to those music creators whose music has been shared based on a pro-rata system, once files have been tracked through companies like Big Champagne.

Several recent studies have shown that music fans and consumers are willing to pay for their music. So why can’t we just facilitate making it possible through existing distribution methods?

This proposed model can be created with technology currently available.

Now all we need is the desire.

Come together everyone!

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