Napster
has offered $1 $1 billion to the recording industry if they settle the
copyright infringement lawsuit. Napster would pay $150 million per year
for five years to the major record labels (Sony, Warner, BMG, EMI
and Universal) and pay $50 million per year for five years to independent
artists and labels.
Napster, created by a 19 year old student, allows users to swap MP3
songs freely through Internet. Now Napster is planning a new paid service
that will be launched this summer.
Napster Inc., associated to the German group
Bertelsmann,
is trying to reach an agreement with the major labels to make sure that
the lawsuit does not end up with the popular music file-swapping service.
Napster says that their research strongly suggests that a high percentage
of Napster users are willing to pay. But, "we will not be certain until
we actually begin charging, but we do know that Napster has become an important
part of daily life for a lot of people."
Related News:
Napster
remains the fastest growing home software application ever (8/10/2000)