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Market
Which record label will receive the highest settlement amount if Verizon settles by end of 2024?
2
Resolution / Starting Odds
Sony Music • 25%
Universal Music Group • 25%
Warner Music Group • 25%
Equal distribution • 25%
Settlement agreements, public announcements
Story
Verizon Faces $2.6 Billion Lawsuit from Sony, Universal, and Warner Over Piracy
Jul 15, 2024, 09:46 PM
Verizon is facing a $2.6 billion lawsuit from major record labels, including Sony Music, Universal Music Group, and Warner Music Group. The lawsuit accuses Verizon of facilitating massive copyright infringement by its subscribers, particularly through P2P file-sharing networks and BitTorrent. The labels claim that Verizon has ignored the pervasive piracy and failed to disconnect the internet services of those involved, effectively 'buried its head in the sand.' The lawsuit, filed on Friday, highlights the significant impact of piracy on the music industry and seeks to hold Verizon accountable for its alleged inaction.
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