NEW YORK, Feb. 27, 2020 /PRNewswire/ -- 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.
About NMPA
Founded in 1917, the National Music Publishers' Association (NMPA) is the trade association representing all American music publishers and their songwriting partners. The NMPA's mandate is to protect and advance the interests of music publishers and songwriters in matters relating to the domestic and global protection of music copyrights. Learn more at nmpa.org.
About Peloton
Peloton is the largest interactive fitness platform in the world with a loyal community of more than 2 million Members. The company pioneered connected, technology-enabled fitness, and the streaming of immersive, instructor-led boutique classes for its Members anytime, anywhere. We make fitness entertaining, approachable, effective, and convenient, while fostering social connections that encourage our Members to be the best versions of themselves. An innovation company at the nexus of fitness, technology, and media, Peloton has reinvented the fitness industry by developing a first-of-its-kind subscription platform that seamlessly combines the best equipment, proprietary networked software, and world-class streaming digital fitness and wellness content, creating a product that its Members love. The brand's immersive content is accessible through the Peloton Bike, the Peloton Tread, and Peloton App, which provides a full slate of fitness offerings, anytime, anywhere, through iOS and Android, Chromecast, most tablets and computers and Fire TV. Founded in 2012 and headquartered in New York City, Peloton has a growing number of retail showrooms across the US, UK, Canada and Germany. For more information, visit www.onepeloton.com.
Media Contacts:
Charlotte Sellmyer, SVP, External Affairs, National Music Publishers' Association
202-383-2583, csellmyer@nmpa.org
Jessica Kleiman, SVP, Global Communications, Peloton
646-829-1633, jkleiman@onepeloton.com
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SOURCE Peloton
