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"We're really excited about MP3.com's opportunity to work with the labels... We are talking to the labels on a daily basis about getting to some sort of resolution. We think that's important for our company, but also for the music industry."
—MP3.com's Michael Robertson
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MP3.COM EXECS SING A NEW TUNE

And, Thanks To The RIAA Suit, That Tune Is No Longer Free To Download
MP3.com's chiefs michael robertson',390,400);">michael robertson',390,400);">Michael Robertson and Robin Richards told attendees at its first shareholder's meeting that the company intends to be a friend to the major labels.

Despite suffering a setback by losing a copyright infringement case to the RIAA in April, company officials are involved in continued negotiations with the major labels both to reach terms on damages and to come to a licensing agreement for future content.

"We're really excited about MP3.com's opportunity to work with the labels," said Robertson at the meeting held at the company's San Diego headquarters. "Obviously, we lost in the lower court and we're disappointed with that, because we think our technology is complementary and built in a very responsible way. We are talking to the labels on a daily basis about getting to some sort of resolution. We think that's important for our company, but also for the music industry."

Inside.com reports that Robertson emphasized that his company and the labels are not competitors but are in different businesses, that if the parties involved could reach an agreement, would result in a mutually beneficial online endeavor.

If the music industry were to adopt MP3.com's service model, it could promote growth in the industry from its current $40 billion level to perhaps $100 billion or more, he said.

Robertson added that beyond the original sale of a CD, music can continue to earn royalties through subscription services such as MP3.com's classical music channel and its My.MP3.com music-storage service. While music companies are in the business of finding, producing and marketing talent, MP3.com is simply in the digital infrastructure and distribution business, he said.

"(The labels) need to offer some technology solutions to their consumers today," he said. "If you don't offer any sort of technology solution, then what do you get? You get Napster. You get Gnutella. You get software tools to share any sort of music with no revenue to the artists or to the labels."

At the meeting, the two execs downplayed the adversarial stance the company often struck prior to the court's decision. " MP3.com is ''working diligently with all licensing bodies to secure licensing going forward," said Richards referring to MP3.com's licensing deal with BMI (Hitsdailydouble.com, 5/8)."

In other news from the meeting, Robertson and Sequoia Capital VC Mark Stevens were re-upped as directors through 2003; an amended and restated equity and incentive plan was adopted, and the selection of accounting firm Ernst & Young as MP3.com's auditors of record for Fiscal Year 2000 was ratified.

For more from Robertson, see HITS' own tech tot Simon Glickman's exclusive interview with the man (Hitsdailydouble.com, 5/30).

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