By Andrew KimballJanuary 16, 2020 8:42amThe price of a $100 million record contract has been revealed in the latest batch of court documents.
Kanye West has been asked to pay $100m to Sony, according to a document filed in Los Angeles federal court by Sony Music Entertainment.
Sony Music Entertainment filed the filing in court to obtain a preliminary injunction that would prohibit the use of its name, likeness, or trademarks on music, movies, television and other media by the Recording Industry Association of America.
The filing does not spell out how much Sony wants the money, but sources have speculated the amount could be in the hundreds of millions.
Sony will get a 20% royalty on sales of any future music released through the Music Station app.
Sony Music also has rights to negotiate with major labels for deals with artists, but the filing says it has “no intention of doing so.”
Apple Music, Spotify, and Google Play Music are the main streaming services, but some artists are already planning to launch their own streaming services.
Spotify has been accused of unfairly pricing music on its own services at significantly higher rates than artists would have been able to earn from Spotify’s own service.
Apple Music is owned by Disney, and Spotify is owned jointly by Apple, Amazon, Google, and Facebook.