Below is MP3.com's official press reply after the loss of it's case with the RIAA on my.mp3.com.
From Official MP3.com Press Release:
NEW YORK, April 28, 2000 -- MP3.com (NASDAQ: MPPP) had its day in court against the major record labels today, as U.S. District Court Justice Jed Rakoff granted a summary judgment on behalf of the labels in their suit filed over MP3.comís My.MP3.com service.
"This is not a victory for the record labels--itís a loss," MP3.com Chairman/CEO Michael Robertson said in response to the decision. "New technologies for delivering music are here to stay, and the technology trend is moving in only one direction: forward.
"The record companies are at a crossroads and are required to make a decision about the technology that they choose to embrace. My.MP3.com is a system which requires the purchase of CDs in order to function, as opposed to other services like Napster that do not require users to first purchase a CD before accessing music. The labels made the decision to challenge a technology that will protect their intellectual property interests and grow their business. They will be left with copyright chaos, as weíre witnessing today."
Despite the recording industryís claims that online music services are damaging their business, music sales figures in the United States were up approximately 8 percent in the first quarter of 2000 over 1999ís first quarter, according to music sales authority Soundscan, which tracks music sales at points of purchase throughout the United States.
"By standing against the My.MP3.com technology, the recording industry is standing against increased revenues for its members and damaging the chances of a responsible music delivery system to counter the unregulated systems like Napster and Gnutella. These systems do not compensate artists and rights owners," Robertson said. "When pioneering new technologies designed to grow their businesses are attacked, it leaves a vacuum which will be filled with technologies unfriendly to artists and their existing revenue streams." Since its inception, MP3.com has been a champion of artistís rights. Weíll continue this mission.".
defeats MP3.com in Court
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