The long-delayed but much-anticipated service from Qtrax is finally going to launch - supposedly going live this Sunday at 12:00 am Eastern. Qtrax, in case you haven't heard, is a P2P file sharing network that has been in the works for eight years. However, it's not just any P2P file-sharing network - it's the world's first free and legal P2P file-sharing network that has the support of all four major record labels (EMI, SonyBMG, Universal Music Group and Warner Music Group).
Why Qtrax?
According to a recent study by Jupiter Research, for each song sold, 100 more were stolen. The study also reported that 94% of online music consumers were unwilling to pay for music. The record labels finally got the hint: the Napster Generation thinks music should be free, and they will find a way to get it for free, despite laws or lawsuits. When the record companies realized all their attempts to make up for lost revenue from CD sales had failed, they knew that they now had no alternative but to offer free music to the online masses.
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