Re: Want their cake and to eat it
The problem with this is that it's (mostly) not a contract between artist and society. It's a contract between major label and society. As soon as an artist signs to a label then they no longer own their own work (much like any job). The major labels are big companies with big overheads who are trying to maintain their share price. They are in the business of continuing their business model for as long as they possibly can. The big label model is dead, they just haven't realised it yet so are trying to carry on with business as usual.
Declared interest: I am one of the directors of a small record label. I do not agree with the the position that format shifting is wrong. It should not be illegal