Has the internet made MPAA/RIAA obsolete?

[a completely inoffensive name]

Do you feel that companies such as the RIAA and the MPAA are obsolete nowadays due to the Internet which allows any band with a website to be discovered and gain popularity or do you feel that they and similar companies still serve a legitimate purpose in discovering talent and protecting the artists interests and profits?

Info about two groups:
http://en.wikipedia.org/wiki/MPAA
http://en.wikipedia.org/wiki/RIAA

NOTE: I think the group involved in The Pirate Bay Trial just to clearify was the IFPI.
http://en.wikipedia.org/wiki/IFPI

[a completely inoffensive name]

No one?

[Lemur]

I think trying to separate the trial from the issues that underpin it is a thoughtful but pointless exercise. We'll talk about the deeper issues in the trial thread, if you don't mind.

[a completely inoffensive name]

I think trying to separate the trial from the issues that underpin it is a thoughtful but pointless exercise. We'll talk about the deeper issues in the trial thread, if you don't mind.

Ok then. Lock this if you want then.