It’s been reported that the world’s leading YouTube ripping website, YouTube-MP3.org, is shutting down. The site receives millions of visitors per day and allows users to convert YouTube videos into MP3 files.
The shutdown comes one year after record labels accused the controversial site of being responsible for “upwards of 40 percent” of illegal audio streaming/downloading.
The Verge writes:
According to TorrentFreak, a proposed final judgment has been reached between audio-ripping site YouTube-MP3.org and a collection of record labels including UMG, Sony Music, and Warner Bros. Although the document has not yet been signed by a judge, it indicates a decision in favor of the labels, with an undisclosed settlement fee and an order to transfer the domain to a party representing the labels.
You can read more here.