Interactive-fitness company Peloton settled a lawsuit filed by members of the U.S.’s music-publishing trade organization that had sought damages of more than $150 million.
The National Music Publishers’ Association (NMPA), which represents American music publishers and songwriters, and Peloton together announced that they have “fully settled” the litigation brought last year by 14 NMPA members.
Financial terms of the settlement were not disclosed. As part of the agreement, Peloton and the trade association have entered into a “joint collaboration agreement and will work together to further optimize Peloton’s music-licensing systems and processes.”
“We are pleased the music publishers and their songwriter partners in this case have reached a settlement with Peloton that compensates creators properly and sets forth the environment for a positive relationship going forward,” NMPA president and CEO David Israelite said in a statement.
Paul DeGooyer, Peloton’s head of music, added, “Music is an important part of the Peloton experience, and we are very proud to have pioneered a new revenue stream for recording artists and songwriters.”
The NMPA members originally filed suit against Peloton in March 2019. The plaintiffs were Downtown Music Publishing, Anthem Entertainment, Big Deal Music, Pulse Music Group, peermusic, Greensleeves Publishing, Me Gusta Music, Reservoir Media Management, The Richmond Organization (TRO), Round Hill Music, The Royalty Network, STB Music, Tunecore and Ultra Music Publishing.
New York-based Peloton has more than 2 million subscribers for its instructor-led boutique classes. Founded in 2012, the company’s content is accessible through the Peloton Bike, the Peloton Tread, and Peloton App for iOS and Android, Chromecast, tablets, computers and Amazon Fire TV.
Source : Variety
