A leading YouTube ripping site is to shut down after agreeing a settlement with the RIAA.

Last year record labels took legal action against YouTube-MP3.org, the world’s largest site dedicated to stream-ripping music. As well as being accused of infringing copyright, the site was alleged to be breaching YouTube’s terms of service in enabling users to convert videos to MP3s.

At the time, IFPI chief executive Frances Moore described it as “a coordinated action to protect the rights of artists and labels from the blatant infringements of YouTube-mp3, the world’s single-largest ‘stream-ripping’ site”.

The agreement, including an undisclosed payment, will end the copyright infringement lawsuit that was filed against YouTube-MP3.org in a California federal court last year.

In the UK, the BPI had put the stream-ripping site on formal notice of intended legal action. Stream-ripping has been the fastest growing form of music piracy. Based in Germany, YouTube-mp3.org had more than 60 million unique monthly users.

For more stories like this, and to keep up to date with all our market leading news, features and analysis, sign up to receive our daily Morning Briefing newsletter