(adsbygoogle = window.adsbygoogle || []).push({}); In December of 2011, just weeks before the takedown, Digital Music News reported on something new that the creators of #Megaupload were about to unroll. Something that would rock the music industry to its core. (You must login or register to view this content.)

I present to you... MegaBox. MegaBox was going to be an alternative music store that was entirely cloud-based and offered artists a better money-making opportunity than they would get with any record label.

"UMG knows that we are going to compete with them via our own music venture called Megabox.com, a site that will soon allow artists to sell their creations directly to consumers while allowing artists to keep 90 percent of earnings," MegaUpload founder Kim 'otcom' Schmitz told Torrentfreak

Not only did they plan on allowing artists to keep 90% of their earnings on songs that they sold, they wanted to pay them for songs they let users download for free.

"We have a solution called the Megakey that will allow artists to earn income from users who download music for free," Dotcom outlined. "Yes that's right, we will pay artists even for free downloads. The Megakey business model has been tested with over a million users and it works."

Looks like record companies where in fact money whores if this was right, no wonder Swizz beats and other artist had joined with megaupload. What are your thoughts?

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I would have loved to see this come through. And it doesn't look like it's piracy based or even approves it. I don't see why it would have been shut down for this...

Plus the sites owner had many other criminal charges for years, so its quite possible that this was the reason behind their shutdown, maybe the recording companies didn't want to loose any artist and money.

They just used piracy as an excuse, because Megaupload hosted pirated content for years, without any major law suits

This doesn't make any sense, if this was going to help artists earn some money from downloaded music, why would they close Megaupload ? When instead they could be making lots of more money, there must be another reason still.

The answer's in the post above yours, haha. It's always the people at the top of the food chain calling the shots. Requoted below.

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