Is this ironic or what?

Music Industry Turns to Napster Creator for Help
By JEFF LEEDS

LOS ANGELES, Dec. 2 - As a teenager, Shawn Fanning brought free music to the masses, creating the Napster file-swapping program and unleashing a technological genie that granted the wishes of fans seeking virtually any song at any time - gratis. Now, the recording industry is turning to the college dropout turned cult hero, with dreams of putting the genie back in its bottle.

The major record corporations, who accused Mr. Fanning's Napster of ravaging CD sales and weakening the underpinnings of the industry, now say that a licensed file-sharing system could bolster their position in their legal fight against piracy as well as increase digital music sales.

Mr. Fanning, now 24 and part of a new venture called Snocap, has lately written software that would recognize songs being made available on a peer-to-peer network and let copyright holders set terms for its price and its use by consumers who wish to download them.

Snocap and the music corporations are envisioning an online community where visitors could trade songs without violating copyright laws.

Posted by Prometheus 6 on December 3, 2004 - 7:35am :: Economics | Tech
 
 

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