US copyright law sets damages for willful infringement at up to USD $150,000 per work. At that ceiling, the 60,202 recordings would carry a theoretical maximum of just over $9 billion.
Apollo-managed funds and affiliates have acquired what Apollo describes as a "noncontrolling interest" in a subsidiary of BMG that holds the legacy Concord asset-backed securities, backed by a catalog of over 1 million songs
"It's not going to be that long where I'm sitting here saying now over half of our artists are not U.S., U.K. English-speaking artists," Berchtold told Goldman analyst Stephen Laszczyk
ElevenLabs will launch an AI-powered music platform for fans under the deal, with the two companies also jointly developing AI audio products for artists and songwriters