A humbler MP3 reinvents itself after legal row
Article Abstract:
MP3.com Inc. is the process of settling its copyright suit with the music companies. It is now licensing from record companies the songs that it offers for downloading over the Web to users of its service. Revenues for Q2, primarily from advertising by other Web sites, grew from $1.9 mil in 1999, to $20 mil in 2000. However, mainly because of a charge of about $150 mil in legal fees, the company reported a net loss of $177.1 mil, compared to a $6.3 mil loss a year earlier. Nevertheless, analysts see the company becoming profitable in 2001. At the same time, while MP3 has a large collection of music, much of it is self-posted by unknown musicians. In addition, experts foresee streaming audio, rather than downloaded music, becoming the consumer's preferred delivery method.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 2000
User Contributions:
Comment about this article or add new information about this topic:
Bertelsmann, Napster agree on service
Article Abstract:
Despite the ongoing legal battle between Napster Inc. and the sound recording industry, Bertelsmann AG of Germany has brokered a strategic agreement with Napster to develop a 'legal' version of Napster's Internet music-sharing service. The companies plan to offer a 'secure membership-based service.' There is no indication yet that other sound recording companies are planning to follow Bertelsmann's lead.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 2000
User Contributions:
Comment about this article or add new information about this topic: