News Big record labels give songs to P2P network

After Weed, more news on the suits accepting P2P won't die, and them using it to their advantage. This from Silicon:

Music industry bigwigs are finally warming to the idea of peer-to-peer file sharing. So much so, in fact, three of the major record labels have agreed to license their catalogues to a P2P network.

Sony, BMG and Universal have announced their P2P system, named Peer Impact, will be available in the first quarter of 2005 and will be "content distribution service that will provide legal, peer-to-peer (P2P) file sharing services for its members" where consumers will be able to chat about their favourite bands, as well as share and buy music.


How precisely the system will work is still under wraps, however, as the service claims: "It's imperative that we keep a few things secret right now" but promise the site will be based on "legal and secure" file sharing. As well as music, related content including video clips can be shared.

More here

I think Weed is the better idea in the long run, as the Powers That Be don't have to bother running their own P2P network (which will undoubtably be seen by many downloaders as the root of all evil).

Thoughts?