The company set out that description in a statement responding to a second copyright lawsuit filed by Universal Music Group and Sony Music Entertainment.
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.
UMG and ElevenLabs announced a licensing agreement, which will see the latter build a fan platform for remixes, mashups, and "new track interpretations."
"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