LimeWire Trial Documents Show Label Execs Knew They Got P2P All Wrong

During court proceedings this week, LimeWire went on the offensive to prove that the labels themselves and not p2P was to blame for the drop in record sales. While it seems unlikely that Limewire will reverse the court's decisions, the documents filed, including direct quotes from top level executrices, show that somewhere along the way, they knew they'd miscalculated the impact of p2p and the digitization of music:

"We inadvertently went to war with consumers … and consumers won." – Warner Music head Edgar Bronfman, Jr.

"The real problem is that there is no technology coming from the record companies."-  former Universal Music CEO Doug Morris

Only Universal Music's Zach Horowitz seemed to get it right. When told by Victory Records' Tony Brummel, "You can't compete with free," replied "We can. We have to. It's just that we have to be creative and add value."

Quotes via DMW.