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Music Industry Looking for Lyrics Payoff 205

theodp writes "U.S. digital entertainment company Gracenote has obtained licenses to distribute the lyrics of more than 1 million songs. Music publishers are still mulling legal action against Web sites that provide lyrics without authorization." From the article: "Ralph Peer II, Firth's counterpart at peermusic, said licensing lyrics should boost worldwide music publishing revenues, estimated at about $4 billion annually. Peer said he hopes the unauthorized sites will seek licenses. 'I think we'll see a reasonable increase, as much as a 5 percent increase, in industry music publishing revenues five years out from where we are right now,' Peer said."

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