lefty
05-24-2012, 03:36 PM
LOS ANGELES (CBS) — The Recording Industry Association of America is reportedly suing now-defunct music downloading service LimeWire for $72 trillion. Yes, we said trillion.
“An award based on the RIAA calculations would amount to more money than the entire music industry has made since Edison’s invention of the phonograph in 1877,” Judge Kimba Wood states in documents filed at the U.S. District Court for the Southern District of New York.
In the suit, the RIAA says more than 11,000 songs have each been illegally downloaded thousands of times.
It’s seeking compensation for each download, but with the estimated worth of the entire planet being roughly $60 trillion, RIAA certainly won’t be collecting that much cash.
However, LimeWire could still be ordered to pay up more than $1 billion.
“An award based on the RIAA calculations would amount to more money than the entire music industry has made since Edison’s invention of the phonograph in 1877,” Judge Kimba Wood states in documents filed at the U.S. District Court for the Southern District of New York.
In the suit, the RIAA says more than 11,000 songs have each been illegally downloaded thousands of times.
It’s seeking compensation for each download, but with the estimated worth of the entire planet being roughly $60 trillion, RIAA certainly won’t be collecting that much cash.
However, LimeWire could still be ordered to pay up more than $1 billion.