The Biz: Reservoir Invests In Lightroom, Bieber Settles With Braun, Jane’s Litigation & More

Reservoir Buys Into Immersive Entertainment Player Lightroom

Lightroom, the immersive entertainment company that has hosted, among other things, an album launch for Billie Eilish’s Hit Me Hard and Soft and “A Film for the Future,” the companion film for Coldplay’s album Moon Music, has received an investment from Reservoir Media.

As part of the deal, Reservoir will provide “best-in-class IP” for Lightroom’s immersive creations, giving Reservoir “an opportunity to enhance the value of our music assets, capitalizing on milestone moments, as well as our evergreen music catalog, to create shows rooted in IP,” according to its CEO Golnar Khosrowshahi.

In recent years, Reservoir has struck deals with Tommy Boy Music, electronic label New State, Fool’s Gold Records and others.

Bieber Settles Up With Scooter

Justin Bieber has reportedly settled his outstanding debt to Scooter Braun.

After canceling his 2022 “Justice World Tour,” Bieber owed AEG Presents $26 million as part of his advance, a debt that HYBE covered; at the time, Braun was CEO of Hybe America. Bieber agreed to repay that debt over time, but allegedly only made one payment.

As part of the deal, Bieber will now repay Braun the $26 million plus another $5.5 million that represents half of the $11 million commission he owes Braun for his management services.

Bieber’s seventh album, Swag, was released July 11 in a surprise drop.

Jane’s Litigation

Jane’s Addiction lead singer Perry Farrell is facing a lawsuit from his bandmates following the band’s breakup late last year after Farrell appeared to physically attack guitarist Dave Navarro during a show. The tour was swiftly canceled; it was to be the first run for the band with the original lineup since 2010.

In the suit, Navarro, bassist Eric Avery and drummer Stephen Perkins, are seeking $10 million. The suit, filed in Los Angeles Superior Court, says Farrell’s “brutal and unprovoked” attack led to lost tour revenue, as well as losses due to a now-unrealized planned album.

Farrell responded with a counterclaim of his own, pinning the discord on Navarro’s loud playing as part of “a longstanding pattern of harassment and bullying [Farrell] has suffered at the hands of the other members of the band, and the various passive aggressive, or sometimes just aggressive ‘tricks’ they would use to undermine his performances on stage.”

The counterclaim says the tour was canceled by his bandmates without consultation with him and that Instagram posts and comments from the rest of the band that Farrell had “mental health issues” and “needs help” are libelous.