Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

'Waves' musician Mr. Probz files $10 million suit against Sony over royalties

Published 09/27/2022, 03:28 AM
Updated 09/27/2022, 04:21 PM
© Reuters. FILE PHOTO: Singer Mr. Probz addresses a news conference the day before attending the traditional Opera Ball in Vienna, Austria, February 3, 2016. REUTERS/Heinz-Peter Bader

AMSTERDAM (Reuters) - Lawyers for Dutch musician Mr. Probz, known for his 2013-14 hit "Waves", said on Tuesday they have filed a claim worth more than 10 million euros ($9.66 million) against Sony (NYSE:SONY) in Amsterdam over royalties the artist argues Sony fraudulently withheld.

Mr. Probz, whose real name is Dennis Stehr, argues that Sony deducted administration and distribution fees from his royalties as they were passed through the company's subsidiaries, in violation of his contract which specified they should be determined when they were first collected -- "at source".

Sony denied the allegations.

"We categorically dispute the claims made and are in the process of reviewing the summons," Sony Music Entertainment Netherlands said in an emailed response to Reuters questions.

Mr. Probz has around 5 million monthly listeners on Spotify (NYSE:SPOT) and the radio edit remix of "Waves" with Robin Schulz has been streamed more than 800 million times. The Waves video has been viewed 500 million times on YouTube.

In a preliminary ruling in 2020, the Amsterdam District Court ordered Sony to return control of Stehr's music to his company Left Lane BV, and to allow his auditor access to all documents relating to the exploitation of his music from 2013-20.

Pim Keulen, a royalties expert advising Stehr during the legal proceedings, said Sony had not given full access to auditor Grant Thornton. However audits showed that Sony "systematically" wrongly deducted fees leading to underpayment of 3-6% on royalties Left Lane should have received from Spotify, TIDAL, Amazon (NASDAQ:AMZN) Music and Deezer among others, he said. ($1 = 1.0356 euros)

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

(This story corrects title of Keulen in final paragraph)

Latest comments

Sony ******
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.