If you're a Tumblr user and you're not upset by a little foul language, read this. If you didn't read it, let me paraphrase: Tumblr is changing their TOS so that they can use any user's material for their own purposes if it's not copyrighted. Pretty sneaky, huh?

If the powers that be don't change this, I'm deleting my Tumblr account this February before the new TOS goes into effect. It's not likely that Tumblr will find me, but I want to be safe. So listen to my songs while you still can. I apologize in advance to all six of my followers.

Edit!

I contacted Tumblr, and this is what they had to say:

Tumblr has no intention of owning any original content you post in order to sell it for a profit. As stated in the new Terms of Service, "You retain ownership you have of any intellectual property you post to Tumblr."

Thanks for your note. The "Subscriber Content License" section you are pointing to is actually not new - you can see it in the March, 2012 version of the Terms of Service, as well as the annotation to that section that states "you grant us a license to make that content available in the ways you'd expect from using our services."
This section is there so that Tumblr has the rights it needs to make Tumblr and enable sharing of what you post on the site, but as we state, it has no impact on your rights to whatever you post, so the sections aren't contradictory at all. Without these rights, we may not be able to, for example, let your followers see what you post on your blog. Also, again, this section isn't new. Sorry for the confusion!

I feel much better now. Sorry for the false alarm, everyone.