Music lyric service LyricFind Inc. accused its primary competitor, Musixmatch SpA, of engaging in an unlawful scheme to foreclose competition in the market for providing lyrics to digital streamers such as Spotify and YouTube Music.
Musixmatch and its private equity owner TPG Global LLC signed an exclusive licensing deal with music publisher Warner Chappell Music Inc. to obtain lyric rights and data, an agreement that is “unprecedented in the music industry” and has “cut-off LyricFind’s and others’” ability to compete, the complaint alleged.
The lyric services provide music streamers with full transcriptions of songs to be displayed to listeners. The ...
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