Popular YouTube ripping site, YouTube-MP3, is shutting down and giving its domain to the RIAA, as part of a private settlement that will end a copyright infringement lawsuit filed by several major labels last year.
At its peak, millions visited YouTube-mp3.org every day, ripping tens of millions of tracks from YouTube music videos. Last year a coalition of record labels represented by the RIAA took the site to court. “Through the promise of illicit delivery of free music, Defendants have attracted millions of users to the website, which in turn generates advertising revenues for Defendants,” the labels argued.
Now as part of a private settlement, the site is shutting down and its domain being transferred to the RIAA. The site's founder has also agreed to pay an undisclosed sum and agreed in the future to to not “knowingly designing, developing, offering, or operating any technology or service that allows or facilitates the practice commonly known as “streamripping.”