Rightscorp nails 30,000 users for piracy in one month, still loses money
Found on Ars technica on Sunday, 16 November 2014
Since beginning in 2011, Rightscorp has lost $6.5 million. It now needs to find additional investors to avoid bankruptcy. "If the Company is unable to obtain adequate capital it could be forced to cease operations," it acknowledged in its most recent SEC filing.
Rightscorp's stock closed Friday around 14 cents per share, hovering near its all-time low.
Only another pennystock that vanishes. Instead of throwing money into useless attempts, the entertainment industry should finally come up with a plan to adapt and let go of old fashioned business models if it wants to survive. Looking how independant labels get more common, and even movies are funded via kickstarter campaigns, one might ask if there is any reason for those old models to exist at all.