Sony Music and Triller, the short-form video platform, have reached a settlement in their copyright infringement lawsuit. The lawsuit was filed by Sony Music last year, accusing Triller of unauthorized use of Sony’s music on its platform. The settlement terms have not been disclosed, but both parties released a joint statement on Friday, August 11, announcing the end of the case with prejudice.
The legal battle arose from a content distribution agreement between Sony Music and Triller in 2016. Under the agreement, Triller was granted the rights to reproduce, distribute, and create derivative works based on Sony’s sound recordings. However, the dispute escalated when Triller failed to meet its payment obligations under the licensing contract and engaged in extensive copyright infringement.
The lawsuit cited more than 50 songs, including tracks by popular artists like Harry Styles and Britney Spears, that were streamed on Triller without authorization. Sony Music claimed that Triller had stopped making monthly payments between March and August 2022, and also owed payments from September, October, and November 2022.
In response to the lawsuit, Triller acknowledged its inability to pay Sony and reached a partial settlement in April, agreeing to pay $4.57 million for alleged breaches of the contract. Now, with the overall settlement, both parties have agreed to conclude the legal battle with prejudice, preventing any future refiling of the case.
The timing of the settlement is significant for Triller, as the company recently revived its plan to go public. On August 2, the company filed an S-1 with the intention of listing on the New York Stock Exchange. In its IPO filing, Triller acknowledged that ongoing lawsuits and litigation matters could potentially harm its business, financial condition, or results of operations.
However, this settlement does not mean the end of Triller’s legal troubles. The platform still faces another lawsuit from Universal Music Group (UMG) over unpaid licensing fees. UMG sued Triller in January for failing to pay licensing fees for three consecutive quarters and not providing quarterly usage reports for the label’s music used on the platform.
As Triller moves forward with its plans for an IPO, the resolution of the copyright infringement lawsuit with Sony Music provides some relief. However, the outcome of the ongoing lawsuit with UMG and possible future legal challenges will continue to impact Triller’s business and financial prospects.
Note: The article should be formatted with appropriate headings, subheadings, bullet points, and meta tags for SEO optimization. It should have a conversational tone, maintain professionalism, and adhere to high standards of grammar and spelling.
