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Submission + - Record Labels Change Minds About Sharing MP3s 1

Mass Defect writes: "While the RIAA continues to sue people for p2p file sharing the record labels have made an about face and given their blessing to users sharing mp3's via the social networking site In May this year the site was being sued by Warner for running a site which allowed users to upload photos, videos and music to share on the site. However to everyone's amazement, instead of being sued out of existence, the site managed to convince the label that this free promotion was a good thing, and in July signed a deal with the label. Since then the site has added Sony, BMG, EMI and now the biggest fish of them all Universal. Imeem now has the royal flush of record labels supporting its media sharing service, each getting a cut of the advertising revenues generated by their catalogue. Finally someone has figured out a way to do 'youtube for mp3s' without getting lawsuited out of existence."
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Record Labels Change Minds About Sharing MP3s

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  • by szyzyg (7313) on Tuesday December 11, 2007 @11:19AM (#21656751)
    I watched so many internet music companies bite the dust in the internet bubble partly because the major labels stonewalled their attempts to make deals - not that they were necessarily viable outiside of the dotcom bubble economy - but the fact that record labels are pretty much allowing file sharing if they get a cut is the clearest sign yet that the music business is really waking up to the internet.

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