Company: ILLRW
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001213900-25-006210
Chunk: 100

Company: Triller Group Inc.
Filing Date: 2025-01-24
Form: S-1
Chunk 100
---
>

The process of obtaining
licenses involves identifying and negotiating with many rights holders, some of whom are unknown, or difficult to identify, or for whom
Triller may have conflicting ownership information, and implicates a myriad of complex and evolving legal issues across many jurisdictions,
including open questions of law as to when and whether particular licenses are needed with respect to the use of musical compositions
and sound recordings.

The music industry is
highly concentrated, which means that one or a small number of entities may, on their own, take actions that adversely affect Triller’s
business. For example, the music rights licensed to Triller under Triller’s agreements with major record labels and major publishing
companies are necessary for Triller to exploit the majority of music consumed on the Triller app. Triller’s business may be adversely
affected if Triller’s access to music is limited or delayed, or if any of the various rights to such music are no longer licensed
to us, if Triller’s relationships deteriorate with one or more of these rights holders, or if they choose not to license to Triller
for any other reason. Rights holders also may attempt to take advantage of their market power by seeking onerous financial terms from
Triller. Triller may elect not to renew certain agreements with rights holders for any number of reasons, or Triller may decide to explore
different licensing schemes or economic structures with certain or all rights holders. Artists and/or songwriters may object and may exert
public or private pressure on rights holders to discontinue or to modify license terms, or Triller may elect to discontinue use of an
artist or songwriter’s catalog based on a number of factors, including actual or perceived reputational damage. Additionally, there
is a risk that aspiring rights holders, their agents, or legislative or regulatory bodies will create or attempt to create new rights
that could require Triller to enter into new license agreements with, and pay royalties to, newly defined groups of rights holders, some
of which may be difficult or impossible to identify.

Even if Triller is able
to secure music rights from record labels, music publishers and other copyright owners, artists and/or artist groups may object and may
exert public or private pressure on third parties to discontinue licensing rights to us, hold back content from us, or increase royalty
rates. As a result, Triller’s ability to continue to license rights to music is subject to convincing a broad range of stakeholders
of the value and quality of Triller