Britain's British Phonographic Industry, America's RIAA and international music organization IFPI announced on Sept. 7 that legal action on two continents has resulted in an agreement with top stream-ripping site Youtube-mp3.org that has shut it down permanently.
Operating from Germany, the top infringing site had traffic estimated at 60 million visitors per month and "generated hundreds of thousands of dollars in advertising revenue per month, often from major brands."
Unfortunately, stream ripping has become massive and it's growing. An Ipsos survey for IFPI found that 53 percent of all 16–24 year-olds use stream-ripping sites or rip streams themselves.
Chance The Rapper has been the outstanding example of an artist quickly catapulted by streaming to international stardom, GRAMMY wins and philanthropy. While millions of infringing copies of his work online did not stop his rise, protecting creators' streaming revenues will be increasingly vital in music's online ecosystem.
"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," said BPI Chief Executive Geoff Taylor. "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."
