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 imeem.com. 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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