LTEV’s issue of the Work
34.Mr Beatty’s evidence was as follows. LTEV is a company that specialises in licensing for re-release on vinyl recordings by successful artists. It has been in business for 20 years and has licensed the works of several well-known artists. Re-issues of even highly successful albums may only sell a few thousand copies. 35.In December 2014 LTEV agreed to take a licence from Boogie Up Productions, signed for the grantor by Mr Temkin as “Shay Boogs”. The licence agreement is titled “Exclusive Licence Agreement” and covered three albums, including the Work. It provided for an advance payment of £1,000 for the three albums, and a payment of £1.50 for each record sold. The first £1,000 of the royalty would be set off against the advance. LTEV was responsible for MCPS payments. The term was 5 years and the territory was the UK, “Eire and the whole of Europe” and Japan. 36.37.LTEV sold 2,891 copies of the Work at a price to the dealer at £7.75 per unit, giving a profit of around £2.50 per unit. LTEV’s total profit was thus £7,227.50. 38.Mr Beatty did not accept that FBT’s original tapes of the Work would have been needed to make a good quality product, but in the event the quality of the LTEV product does not appear relevant to the calculation of damages for infringement. 39.Mr Temkin said that the LTEV product was not exported from the UK to the United States, and it remains unclear how the two LTEV copies of the Work purchased in Detroit arrived there.