After 8 years Grooveshark is shutting down its music service.
The very popular online music service Grooveshark has posted a statement on its website apologizing for its failure to secure licenses. Quote: “We failed to secure licenses from rights holders for the vast amount of music on the service.”
Instead of securing the license rights on forehand, Grooveshark tried it afterwards, when users already uploaded music. This caused a lot of lawsuits in the past & now they are at a point of no return.
Grooveshark has reached a settlement that involves shutting down immediately. This means all music hosted on the service will be erased and the ownership of the website, mobile apps, patents and copyrights are given to the record-labels.