…things would have been a bed of roses for the music industry. Well, that is what most major labels think. They presented a graph in the recent litigation against LimeWire that drove the point home.
Napster Killed The Radio Star...
This is open to endless debate and speculation, of course. Did sales fall by the wayside because music was being pirated, or because the music that many artists were pumping out was substandard? Speak your mind in the “Comments” box below – let it all out…
LimeWire (one of the most popular peer-to-peer file-sharing services that existed) is now shutting down for good.
The company was defeated seven months ago in Federal Court, and tried to reinvent itself as a store in which music could be purchased legally, a la iTunes or eMusic. But it was all to no avail.
The company’s official statement reads:
“Given our current situation, plans to bring our separate, legal music service to market have been canceled. The beginning of 2011 will mark the closing of LimeWire’s New York office and cessation of business by LimeWire. We attracted some of the top talent from the technology community over the years to build our new music service. We’ll be helping our team members commence their job search over the next few months.” Continue reading