New York, NY (Top40 Charts) The
National Music Publishers' Association (NMPA), the trade association representing all American music publishers and their songwriting partners, and Peloton (NASDAQ: PTON), the world's largest interactive fitness platform, today announced that they have fully settled the litigation brought last year by 14 NMPA members. In addition, 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.
NMPA President & CEO
David Israelite said, "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. Peloton is an innovative company, and we are impressed with the company's investment in technology and commitment to delivering a powerful, authentic music experience. We look forward to our ongoing collaboration to find solutions that will benefit all songwriters."
Peloton's Head of
Music Paul DeGooyer said, "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. We're equally proud to partner with
David and the NMPA to ensure that songwriters are, and continue to be, fairly compensated. With the NMPA's input, we are confident our proprietary, state-of-the-art music system will provide an even more dynamic fitness experience for our millions of members worldwide."
Plaintiff publishers 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. The case was Downtown
Music Publishing LLC v. Peloton Interactive, Inc. (1:19-cv-02426-DLC) District Court, S.D. New York.
