February 20, 2001: Napster’s One Billion Dollar Bribe
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2001 – Napster took back a $1 billion offer to record labels, songwriters and artists for being able to continue pushing their music. They made the offer on Feb 18th, but the RIAA called them out.
Napster’s plan was to give major labels (in whole) $150 million per year for a non-exclusive license. Independent labels would be paid based on volume. The company would then initiate a membership fee to cover costs.
Wikazine – Full show notes for February 20
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