Spotify Secures $322 Million from Untraceable Music Pirates
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
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Source: Theverge
Judgment Against Anna's Archive: Spotify and three major labels have won a $322 million default judgment against Anna's Archive, an open-source library and pirate activist group that planned to release millions of music files scraped from Spotify.
Lawsuit Background: The judgment follows a lawsuit filed by Spotify, Universal Music Group, Warner Music Group, and Sony Music after Anna's Archive announced it had leaked 86 million songs from Spotify and intended to create a "preservation archive."
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
