UK-based online music service Wippit, that had a 300,000 strong customer database, has ceased trading after "finally succumbing to tough market conditions".

A message on the site reads: "Wippit has closed. After 8 years of pushing the digital boundaries, Wippit can no longer compete in the current market climate. Thank you to everyone that has supported us over the years and apologies to those that will miss us."

One of the first legitimate peer-to-peer UK digital music services, Wippit enjoyed team-ups with EMI, Warner and Motorola, as well as rights to some Beatles footage, but lack of support from major labels, as well as intense US-based competition, has been blamed for the company's closure.