FILE PHOTO: A Peloton exercise bike is seen after the ringing of the opening bell for the company's IPO at the Nasdaq Market site in New York City, New York, U.S., September 26, 2019. REUTERS/Shannon Stapleton
NEW YORK (Reuters) - Peloton Interactive Inc has settled a lawsuit in which a music publishing trade group and 14 of its members accused the maker of stationary bicycles of streaming more than 2,400 songs without permission in its workout videos.
In a joint statement on Thursday, Peloton and the National Music Publishers' Association said they have also entered a collaboration agreement to "further optimize" Peloton's processes for music licensing. Other terms were not disclosed.
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