Good news for rights-holders: the world’s most popular online tool for ‘stream ripping’ audio from YouTube is shutting down following a legal battle with US recorded music body the RIAA.

YouTube-MP3.org (‘YouTube to MP3) was taken to court by a coalition of the major record labels last year.

Now, according to a proposed final judgment filed at the District Court of the Central District of California on Friday (September 1), it’s the end of the road for the site – which attracts over 60 million users each month.

The proposed settlement, which appears to have been agreed by both sides, would see YouTube-MP3.org owner Philip Matesanz stump up a fee for the plaintiffs.

In addition, Matesanz would be barred from ever operating YouTube to MP3 – or any stream-ripping portal – again, while ownership of the site’s domain would transfer to a party of the RIAA’s choosing.

“Defendants are ordered to transfer the domain name www.youtube-mp3.org to the Plaintiff identified in, and in accordance with the terms of, the confidential Settlement Agreement among the parties,” reads the proposal, as spotted by Torrentfreak.

Matesanz will also be legally banned from any form of future copyright infringement involving the majors’ repertoire – as well as “knowingly designing, developing, offering, or operating any technology or service that allows or facilitates the practice commonly known as ‘streamripping'”.

You can download the full proposed settlement document through here.

YouTube-mp3.org boasts more than 60 million unique users per month, and is estimated to be responsible for upwards of 40% of all unlawful stream ripping of music from YouTube.Music Business Worldwide