MAJOR LABEL SANCTIONED P2P’s

Wired.com reported Thursday that “amid the recent collapse of talks over the Induce Act in Congress, record labels are closing in on deals to enable several new peer-to-peer services to emerge — with the sanction of major record labels that have so far derided P2P as a haven for piracy.”

“At a panel held Wednesday by the Cato Institute, a libertarian think tank in Washington, at least one record industry representative predicted that such sanctioned P2P services will start to proliferate in the next several months.”

“We are going to see three or four of these in the very, very near future,” said Mitch Glazier, senior vice president of government relations and legislative counsel at the Recording Industry Association of America.”

“Glazier said the new services will be consumer-friendly and enable the portability that digital music consumers demand, all without running afoul of copyright law. “P2P technology is great,” Glazier said. “It can be harnessed for good or harnessed for bad.”

“After the panel, Glazier told Wired News that it’s still unclear whether consumers will be willing to pay for P2P services, but companies such as Wurld Media and Snowpack are trying to wrap up deals with various record labels to try out new service models.”

hypebot: How much do you want to bet that the major labels over-price, over-restrict and kill what might be a great idea.

READ THE FULL WIRED STORY HERE.

TO WATCH AN ARCHIVED VIDEO OF THE PANEL CLICK HERE.