NEW YORK (CelebrityAccess) – Sony Music Entertainment (SME), the world’s second-largest record label, has sued Triller, claiming the video-sharing app failed to make payments under its licensing deal. Licence. Due to the missed payments, SME terminated the deal, but Triller would have continued to use its unlicensed music. The complaint was filed on Monday August 29 in New York.
The suit claims that Sony Music and Triller entered into a content distribution agreement in September 2016, under which Sony permitted Triller (and its users) to reproduce, distribute and create derivative works of the sound recordings, artwork and metadata. of the main music company.
“As of March 2022, Triller has made no monthly payments required under the agreement, totaling millions of dollars. After months of SME asking Triller to pay its overdue and unpaid fees and near total radio silence in response, Sony Music notified Triller on July 22, 2022 that it was in material breach of the agreement.
“After Triller failed to respond, let alone substantially remedy, its breach of the agreement by making payment, Sony Music terminated the agreement on August 8, 2022. In doing so, Sony Music notified Triller that its continued use of Sony music content would constitute willful copyright infringement.
SME is seeking damages for Triller’s alleged breach of the 2016 agreement and its “willful infringement” of Sony’s copyrights since terminating the contract on August 8.
Additionally, Sony is seeking an injunction to “stop Sony Music’s massive, willful and willful rights infringement campaign and [its artists’] valuable sound recordings.
Triller fell out with Universal Music Group (UMG) in early 2021. UMG said the digital company was withholding payments and failed to negotiate a new licensing deal after a previous license expired short term. UMG then announced that it was removing its catalog from the Triller app. However, that didn’t happen, as the two agreed and renewed the licensing deal in May 2021.
SME’s lawsuit comes the same month, superstar producers Timbaland, and Swizz Beatz announced they were also suing Triller for missing payments. The duo sued for $28 million in missing payments after Triller acquired their Verzuz song battle platform in early 2021.
Triller responded to that lawsuit, saying the missed payments did not stem from last year’s Verzuz deal. The additional payments were due to failure to meet specific obligations, and “we don’t believe they have met the thresholds for this payment yet, but we have tried to resolve it out of court.”
The company has not yet responded to the SME’s file. Triller announced yesterday that it had “completed substantial pre-public financing in the form of debt and equity”.
“This was an important step in getting Triller properly funded to enter the public markets,” said Mahi de Silva, CEO and President of Triller, announcing the raise.
“We are very pleased to have such strong market leaders as investors and look forward to bringing Triller to the world through a Nasdaq listing,” he continued. “If capital markets remain stable, we are targeting an IPO early in the fourth quarter. We would like to thank our partners, investors and supporters who to date have helped Triller grow from a startup in 2019 to a a household name today, having raised over $300 million, supported over 750 million monthly interactions, and over 300 million users across all of its platforms. We’ve only just begun.”