Record labels sue AI music generators for ‘massive infringement of recorded music' [Yahoo! Finance Canada]
Warner Music Group Corp. - Class A (WMG)
Company Research
Source: Yahoo! Finance Canada
Updated · Major music labels are taking on AI startups that they believe trained on their songs without paying. Universal Music Group, Warner Music Group and Sony Music Group sued the music generators Suno and Udio for allegedly infringing on copyrighted works on a “massive scale.” The Recording Industry Association of America (RIAA) initiated the lawsuits and wants to establish that “nothing that exempts AI technology from copyright law or that excuses AI companies from playing by the rules.” The music labels' lawsuits in US federal court accuse Suno and Udio of scraping their copyrighted tracks from the internet. The filings against the AI companies reportedly demand injunctions against future use and damages of up to $150,000 per infringed work. (That sounds like it could add up to a monumental sum if the court finds them liable.) The suits appear aimed at establishing licensed training as the only acceptable industry framework for AI moving forward — while instilling fear
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WMG
News
- Record Labels Sue Two Startups for Training AI Models on Their Songs [Yahoo! Finance]Yahoo! Finance
- U.S. record labels are suing AI music generators, alleging copyright infringement [MSNBC.com]MSNBC.com
- Major record labels sue AI companies for allegedly stealing copyrighted music [Los Angeles Times (CA)]Los Angeles Times
- Record Labels Sue Two Startups for Training AI Models on Their Songs [BNN Bloomberg (Canada)]BNN Bloomberg
- How Sport And Entertainment Apps Are Changing Fan Engagement [Forbes]Forbes
WMG
Earnings
- 5/9/24 - Beat
WMG
Sec Filings
- 5/13/24 - Form 8-K
- 5/9/24 - Form 10-Q
- 5/9/24 - Form 8-K
- WMG's page on the SEC website