• Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions
Monday, February 6, 2023
Flyy News
No Result
View All Result
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle
No Result
View All Result
Flyy News
No Result
View All Result
Home Business

Now Triller says it’s exploring revenue share deals with major labels (while being sued by Sony)

flyynews by flyynews
December 5, 2022
in Business
0
Now Triller says it’s exploring revenue share deals with major labels (while being sued by Sony)
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Video-sharing social networking service Triller, the US-based challenger to TikTok, says that it is exploring revenue share deals with major labels.

According to a Triller spokesperson, the platform is currently “assessing” what it calls a “Spotify-like model”, which, they add, would include “a revenue share versus large cash payments as our agreements come up for renewal”.

Such a move from Triller would follow similar steps taken by the likes of Meta, which announced a ‘revenue-share’ model for user-generated video content back in July.

Meanwhile, Bloomberg recently reported that the three majors are currently asking Triller rival TikTok for a share of advertising revenues generated on its platform in their deal negotiations.

News of Triller’s rev-share plans arrives on the same day (Friday, December 2) it was reported that Triller has removed the catalogs for Warner Music Group, Sony Music Entertainment, and Universal Music Group, as well as for Merlin, which represents prominent independent labels and distributors.

Today’s news also comes three months after Sony Music Entertainment hit Triller with a lawsuit claiming that the platform used its recordings without a license, as well as “fail[ing] and refus[ing] to pay millions of dollars in contractual licensing fees”.

In a statement issued to MBW on Friday (December 2), a Triller spokesperson confirmed, “that we are taking down Merlin music”, but claimed, that “of the three major labels, Sony is the only one we do not have a current agreement with and haven’t renewed”.

“We have a dispute with Sony over 2 million dollars, a dispute which will be decided in the court system,” they added.

Commenting on Merlin specifically, they claimed that: “Most of Merlin’s music is indie rock and dance; both genres which [have] a lower interest on the Triller app. It therefore makes no sense for Triller to continue spending tens of millions of dollars a year for music virtually no one uses on Triller.”

The Triller spokesperson continued: “The accusation that we are taking down music because of millions of unpaid royalties is simply not true. We have current active agreements with Universal and Warner Music which is more than 65 percent of the used popular music.

“We are hopeful and optimistic that when these deals expire we can come to arrangements that do not involve tens of millions in annual payments rather a revenue split.”

The statement from Triller’s spokesperson on Friday confirmed, however, that “we actively have removed a portion of major label music, as our deals come up, and are assessing each renewal as they come up, each on a case by case basis.

They added: “As we approach being a public company, this move saves Triller tens of millions of dollars per year, without taking away anything from the user experience or hurting our numbers.”

In October, Triller confirmed that it had secured a binding USD $310 million investment from GEM (Global Emerging Markets), a Luxembourg-based alternative investment group.

Confirming the deal, US-based Triller reiterated that it expected to execute a public listing on the stock exchange in Q4 2022, and claimed that it’s on track to clear $100 million in revenue this year.

In June, Triller announced that it had filed an S-1 form with the SEC for an IPO on the Nasdaq. At the time, it stated that its listing was “expected to be approved by Q3″.

That June announcement itself came shortly after Triller announced it was scrapping another planned IPO – this time via a merger with Seachange – which was initially expected to “close in Q1 2022”.

You can read Triller’s statement in full below:


The article seems to rehash a lot of old stuff that was already settled and resolved and is 90 percent old news with nothing of relevance. It you would like comment on those as well please let us know, but we do find it interesting/curious that each of the issues raised was resolved fully and settled, and yet that isn’t quite clear in the Billboard story. The only new news being that we are taking down Merlin music.

The accusation that we are taking down music because of millions of unpaid royalties is simply not true. We have current active agreements with Universal and Warner Music which is more than 65 percent of the used popular music. We are hopeful and optimistic that when these deals expire we can come to arrangements that do not involve tens of millions in annual payments rather a revenue split.

READ ALSO

Chaotic cash shortage forces Nigerians to wait hours for $43

Your Sunday Asia Briefing: Of Russian Oil And Chinese Balloons

As to Triller taking down music in general, we can confirm we assessed the app usage and a very small percentage of our users use the major label music as most of our users enjoy to make their own content with OG sounds and to upload on their own.

Most of Merlin’s music is indie rock and dance; both genres which has a lower interest on the Triller app.
It therefore makes no sense for Triller to continue spending tens of millions of dollars a year for music virtually no one uses on Triller. Of the three major labels, Sony is the only one we do not have a current agreement with and haven’t renewed. We have a dispute with Sony over 2 million dollars, a dispute which will be decided in the court system.

We actively have removed a portion of major label music, as our deals come up, and are assessing each renewal as they come up, each on a case by case basis. It has not changed our app usage as all. The numbers speak for themselves.

As we approach being a public company this move saves triller tens of millions of dollars per year, without taking away anything from the user experience or hurting our numbers. Quite the opposite it increases our bottom line by 30 plus million dollars per year.

We are assessing a “Spotify-like model”, which would include a revenue share versus large cash payments as our agreements come up for renewal.

This model would give our users the flexibility to have the music if they chose, outside of OG Sounds, without us paying for music the majority of users don’t use. Sans thatour users have made clear the value of this music does not justify the tens of millions a year in cost. “


At the start of October, Triller settled a separate lawsuit with Timbaland and Swizz Beatz; the producer duo alleged that they were owed missed payments following Triller’s acquisition of their song battle platform Verzuz in 2021.Music Business Worldwide



Source_link

Related Posts

Business

Chaotic cash shortage forces Nigerians to wait hours for $43

February 5, 2023
Your Sunday Asia Briefing: Of Russian Oil And Chinese Balloons
Business

Your Sunday Asia Briefing: Of Russian Oil And Chinese Balloons

February 5, 2023
J.P. Morgan: Judicial reform could hit Israel’s credit rating
Business

J.P. Morgan: Judicial reform could hit Israel’s credit rating

February 5, 2023
Centre approves appointment of 5 new judges to Supreme Court
Business

Centre approves appointment of 5 new judges to Supreme Court

February 4, 2023
Stock Market Rally Signals It’s No Bear Run; Tesla CEO Elon Musk Not Liable For ‘Funding Secured’ Tweets
Business

Stock Market Rally Signals It’s No Bear Run; Tesla CEO Elon Musk Not Liable For ‘Funding Secured’ Tweets

February 4, 2023
mahindra lifespace: Real Estate sector looks attractive! Mahindra Lifespace & Brigade Enterprises top bets
Business

mahindra lifespace: Real Estate sector looks attractive! Mahindra Lifespace & Brigade Enterprises top bets

February 4, 2023
Next Post
iPhone maker Foxconn reports 11% drop in November revenue

iPhone maker Foxconn reports 11% drop in November revenue

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Angel -Dave Curl – Official Music Video 2022

Angel -Dave Curl – Official Music Video 2022

November 17, 2022
Proud By Cytonic Rhymes – Official Music 2022

Proud By Cytonic Rhymes – Official Music 2022

November 25, 2022
Sweet Bennie Ray – Whole Lot (Official Music Video)

Sweet Bennie Ray – Whole Lot (Official Music Video)

December 22, 2022
SUPER VITAMIN C COLLECTION | STRIVECTIN

SUPER VITAMIN C COLLECTION | STRIVECTIN

December 16, 2022
Rain And Lily Pond Sounds | 10 Hours | Sleep, Relaxation | Dark Screen

Rain And Lily Pond Sounds | 10 Hours | Sleep, Relaxation | Dark Screen

November 14, 2022

About Us

Welcome to Flyy News The goal of Flyy News is to give you the absolute best news sources for any topic! Our topics are carefully curated and constantly updated as we know the web moves fast so we try to as well.

Follow us

Categories

  • Business
  • Entertainment
  • Fashion
  • Food
  • Gaming
  • Health
  • Lifestyle
  • Politics
  • Reviews
  • Science
  • Tech
  • Travel
  • World

Site Links

  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms & Conditions

Recent News

  • Russians Protest Invasion Of Ukraine Despite Crackdowns On Dissent
  • George Santos Must Resign or Be Expelled
  • Experts Fear Bird Flu Outbreak Could Turn Into New Pandemic
  • Chaotic cash shortage forces Nigerians to wait hours for $43

Copyright © 2022 Flyynews.com | All Rights Reserved.

No Result
View All Result
  • Home
  • World
  • Business
  • Entertainment
  • Health
  • Food
  • Politics
  • Tech
  • Science
  • Travel
  • Fashion
  • Lifestyle

Copyright © 2022 Flyynews.com | All Rights Reserved.

What Are Cookies
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
Cookie SettingsAccept All
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT