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[Digital Cameras]| Tuesday 7th March 2006 |
Music swapping service exchanges CDs
11:38AM, Tuesday 7th March 2006
A new US online music service is exploiting a provision in US copyright laws to run a legal music swapping service.
Rather than swap MP3 files, La La Media customers exchange CDs, a practice protected in US law. CDs are swapped between members, who pay $1 to the company each time they receive a new disc. The company will also sell CDs.
Bill Nguyen, co-founder of La la, said that 20 per cent of its revenue would go to recording artists. The company is also attempting to get a licence from the major labels to let it sell digital downloads.
The service will be launched later today with $9mn of venture capital funding.
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