Regulatory News:
Llama Group (Paris: ALLAM) (Brussels: ALLAM):
Jamendo, an online music platform active in independent music licensing, and Bridger, a copyright management company, are delighted with the landmark decision handed down by the Court of Justice of the European Union (CJEU), overturning copyright barriers in Italy.
As a reminder, Italian legislation prohibited independent management entities (IMEs) established in another member state, such as Jamendo or Bridger, from engaging in copyright intermediation activities.
Jamendo challenged this legislation and obtained a referral to the CJEU.
On March 21, 2024, the CJEU ruled that the Italian legislation was incompatible with European law. It found that the legislation constituted an unjustified and disproportionate restriction on the freedom to provide services.
As we celebrate this historic victory for EMIs and the entire music community, we must recognize the ruling's transformative potential.
Beyond its immediate implications for the music industry, the Court's decision sets a powerful precedent for future legal challenges against protectionist measures that undermine the principles of the EU single market.
"Jamendo and Bridger welcome this decision, which will promote cultural diversity and encourage innovation in the music industry, and more specifically in the management of the rights of authors, composers, and publishers. Business models, management methods, and technologies may well evolve with the arrival of new players, but they must evolve within a clear legal framework without the protectionist reflexes too often encountered in this sector. This will be an evolution for everyone", explains Alexandre Saboundjian, CEO of Llama Group.
In conclusion, the CJEU ruling represents a triumph for EMIs and a decisive victory for innovation, fairness, and collaboration in the music industry. This landmark verdict reaffirms the EU's commitment to a dynamic, inclusive digital economy based on creativity, diversity, and respect for intellectual property rights by removing barriers to competition and encouraging cross-border cooperation.
Please find below the link to the CJEU press release: https://curia.europa.eu/jcms/upload/docs/application/pdf/2024-03/cp240052fr.pdf
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About Llama Group
Llama Group is a pioneer and leader in the digital music industry. With extensive know-how spanning many business sectors, the group owns the iconic Winamp platform, the Bridger copyright management company, and the Jamendo music licensing company.
Llama Group's ambition is to build the future of the music industry through sustained investment in a wide range of innovative solutions and in the talent and skills of people who love music.
The Group stands by its brand values: empowerment, access, simplicity, and fairness.
Winamp's vision is a world where artists and their fans are connected like never before through a state-of-the-art music platform.
Bridger's mission is to support songwriters by offering them a simple and innovative solution for collecting their royalties.
Jamendo enables independent artists to generate additional revenue through commercial licensing.
Finally, Hotmix offers over sixty thematic and free digital radio stations.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240404901474/en/
Contacts:
Investor Relations
Olivier Van Gulck
Mail: investors@llama-group.com
