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Music publishers who sued Peloton for copyright infringement in March are now doubling their claims for damages to $ 300 million, claiming to have discovered 1,200 additional songs that the high-tech bicycle manufacturer has used without authorization.
Publishers such as Downtown Music, Big Deal Music and Round Hill now argue that Peloton has used a total of more than 2,200 unauthorized songs in video fitness classes that it broadcasts to its bike owners.
"It was only as a result of the initial discovery in this lawsuit that the illegal crime of Peloton began to take off," said the editors in a document filed Thursday in federal court in New York.
The amended complaint extends the copyright lawsuit to include "some of the most famous and most popular songs ever recorded," citing successes such as Ray Charles's "Georgia On My Mind," "Who Can See Me?" for miles "and" The Beatles "I saw her standing there. "
These classic pieces join a list of successes already cited, such as Bruno Mars' "Grenade", Katy Perry's "Roar" and Justin Timberlake's "SexyBack".
The timing could hardly be worse for Peloton, which revealed on Wednesday its intention to charge between $ 26 and $ 29 per share for the shares to be issued as part of an imminent initial public offering.
The IPO is expected to give the New York-based company, known for its stationary bikes in video streaming, a valuation of up to $ 8 billion.
In Form S-1 detailing the offer, Peloton admitted the risks associated with the music.
"We rely on third-party licenses to use music in our content, and any adverse changes, losses or allegations that we do not have the necessary licenses may adversely affect our business."
Platoon also accused the National Music Publishers Association of instigating "a coordinated effort" by some of its members "to set prices and engage in a concerted refusal to deal with Peloton".
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