The settlement asked that the court rule in favour of the record labels, which accused YouTube-MP3 of being “designed to infringe and facilitate the infringement of copyrighted sound recordings that are available on YouTube”.
Record industry associations have welcomed the news. Francis Moore, chief executive of the International Federation of the Phonographic Industry, said: “Stream ripping sites blatantly infringe the rights of record companies and artists.”
“Today, music companies and licensed digital services work together to offer fans more options than ever before to listen to music legally, when and where they want to do so—hundreds of services with over 40 million tracks—all while compensating artists and labels.”
He added: “Stream ripping sites should not be allowed to jeopardise this and we will continue to take action against these sites.”
Cary Sherman, chairman and CEO of the Recording Industry Association of America, said: “This is a significant win for millions of music fans, as well as music creators and legitimate music services.”
“One of the world’s most egregious stream ripping sites has shuttered. Sites like these undermine the health of the legitimate marketplace and the livelihoods of millions of music creators worldwide.”
Geoff Taylor, chief executive of the British Phonographic Industry, added that the site was “ripping off artists”.
“Most fans understand that getting music from a genuine site supports the artists they love and allows labels to nurture the next generation of talent. Music stands on the cusp of an exciting future in the streaming age, but only if we take resolute action against illegal businesses that try to siphon away its value.”