TVT RECORDS, home of NINE INCH NAILS, SNOOP DOGG, GUIDED BY VOICES and DJ HURRICANE, are the latest record label to drop their copyright infringement claim against NAPSTER.
According to the BBC, the independent label will now allow recordings that they hold the copyright over to be used on the controversial file sharing network.
President of TVT, Steven Gottlieb said: “Napster will be an important revenue stream for artists once the new service rolls out.
“I am afraid that copyright owners’ resistance to finding workable solutions with Internet music providers may result in consumers, artists and the industry itself ultimately being harmed. The future of Napster provides an opportunity to reach music fans in unprecedented and as yet unimagined ways.”
TVT have followed the example of other labels BMG and Edel Records, who, as previously reported on NME.COM have already dropped their copyright suits and formed a strategic alliance.
However, many of the major record labels in the US continue to pursue an action under the banner of the Recording Industry Association Of America.