2007 person-to-person music downloads were worth a staggering $69 billion, and movie/television piracy continues to grow, says a new study.

And all that free promotion didn’t cost them a penny.

At least, that’s how Techdirt sees it. And I agree. Instead of embracing what might be the largest free marketing giveaway in the history of the world, the music labels instead sue their customers.

And ask the social networks for handouts.

Somebody over there needs to put their thinking cap on, quit screwing around and just give the damn music away for free with no lawsuit strings attached. Then use 360 contracts to find a way to survive on other revenue stream. Or even thrive.