By John Newton 9/27/05
Bram Cohens days of nickel-and-diming it through donations are over. He's Hollywood bound.
He and partner Ashwin Navin have raised $8.75 million from a venture capital firm DCM-Doll Capital Management, says USA Today.
The money will be used to improve its [BitTorrents] infrastructure and make it more appealing to Hollywood, says the story.
The 4GB iPod Nano is available on Amazon
"The piracy business is not something anyone can make money on," Navin is quoted as saying. "We want to distribute paid and ad-supported content, using this technology."
BitTorrent is becoming a critical player in bringing content to market online for the entertainment industry, Navin said recently.
The Internet tears down so many limits that the industry endured using physical distribution," he says, "and now, thanks to the efficiency of BitTorrent, the entertainment industry can securely offer unlimited selection at aggressive prices to a global audience.
Other MP3 stories:
Three Moms Fight Record Industry Lawsuits
The Net is the Independent Artist's Radio
MP3 Newswire is nominated for the 2005 Digital Music Awards