On Wednesday, June 14, a group of music publishers accused Twitter of gross copyright infringement in a lawsuit seeking damages of up to $250 million from the social media company.
Seventeen music publishers, including Concord Music Group and Universal Music Corp, are seeking damages and legal damages from Twitter for alleged copyright infringement of nearly 1,700 songs, according to a court filing. Publishers seek damages of up to $150,000 for each piece of content infringedas well as other damages to be determined at trial.
Publishers are particularly attacking audio and video messages that they say Twitter has benefited “greatly”, further claiming that these actions allow the company to attract users and ad impressions.
Other social networks and video-sharing platforms such as TikTok, Snap, Facebook and YouTube have already struck deals with music publishers, with YouTube alone paying $6 billion for the music industry between July 2021 and June 2022.
This legal action is likely to put a financial strain on Twitter, whose financial situation has recently suffered many times compared to other social media platforms. In March, the owner Elon Musk He said his business was recovering after experiencing a 50% drop in advertising revenue. Before Elon Musk’s acquisition of Twitter, Twitter had about 7,500 employees, and its workforce is now less than 2,000. Last month, Fidelity estimated the platform to be roughly $15 billion, which is a third of the price paid by Elon Musk last October. After a brief stint as CEO, Elon Musk handed the reins of Twitter to Linda Iaccarino, head of publicity at NBCUniversal. His goal is to turn around the company’s ailing business operations.
there National Music Publishers Association, a class action lawsuit on Twitter, has experience pursuing similar lawsuits. The association has previously had disputes with platforms like TikTok and Twitch over copyrighted music. As a result, the Association entered into two separate agreements with the two platforms to reduce or eliminate copyright infringement. The peloton has also been the subject of legal action by the association. In 2020, the fitness company entered into A deal worth $300 million With the association regarding the alleged use of more than 2,000 unlicensed songs.
Translated article from the American magazine Forbes – Author: Antonio Peccino IV
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