LOS ANGELES (Reuters) - IMG Entertainment on Tuesday said it bought online peer-to-peer music Web site Songspy.com for undisclosed terms.

Songspy.com said it differs from other online peer-to-peer music services like now-idled Napster because it is the first of its kind that plans to pay royalties to artists through the record companies while keeping the service free for users.

In order to pay royalties to the music companies, Songspy.com's new owners said they are developing software that will enable them to track which songs are downloaded, the companies said.

The tracking system is expected to be in place within three to four months. Songspy.com will then use this technology to compensate the record labels, whereby they can then pay the musical artists, based on users downloading frequency.

cool!! this soumds resonable.... I might check this site out soon!!!!

Daaaaaaaamn!! About time!!! Ehhh it sounds like a great idea and if the record execs go with this idea while no limitations are placed on selection and what to do with the files then we'll finally have somethin that'll make everybody happy . Too good to be true so I'll have to wait for a final verdict.

yep it looks cool.

hey will smith was born in philly!!!

lol, so that explains why I hear about him makin cameo appearances in west philly

yep!! I found out on vh1.com !!! pretty cool artist pages... thatz the only reson I go on there so i don't have to find each of them's websites.

sounds good.

we need to keep a closer eye on how this develops and whether there's any small print intervention from the record industry tho'

i hope it works out

Songspy was the only app that tracked your points earned on the network, Called em karma I think. You gained points for SHARING not leeching. On Gnutella.com they talk all the time about how leech users (downloading but not sharing) comprise a good 90% of the network. Something like this could limit that greatly, I think, if those points were used to enforce an application ratio rule of some kind. Definitely has it's pluses.

I wonder what this pricescheme will be, but I am definitely interested.

If they have to pay I think you can expect this to be a pretty ad heavy service.

I leech on KaZaa, but only because my ISP has already warned me about making copyrighted material available through the service.

I don't exactly know how KaZaa users are expected to contribute to the network, but if you were to offer your -own- files (or others whose authors encourage distributing) for upload, that would solve your leeching problem and your ISP's complaints, as well. If the RIAA comes knocking, show the ISP that they're -your- files and tell the MafiRIAA to pi... um... go away.

Holy whoa. Note to self: check post dates next time.

to bad this could neaver work all that has to happin is one or two artests say i don't want my stuff on that network and will not take any comp for them being on the p2p but no dought it's a grate idea and i hope it catches on i could handle adware that only comes on when i'm useing the software also this whole sueing thing needs to stop at all costs i hope the big five go the same way as 8 track and die but if thay have to be around i will neaver pay for another song agin so i guess it would work if some one els pays for it for me lol

wow i should have checked post dates also lmao

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