Spotify tops 70 million paying users

07 Января, 2018, 01:59 | Author: Elena Summers
  • Music Publisher Sues Spotify for US$1.6 Billion

Through the years, Spotify faced criticisms from music artists for allowing non-paying users to listen to their full songs anytime.

Music streaming service Spotify has filed confidentially with USA regulators for an initial public offering and is targeting a direct listing in the first half of 2018 that would allow some longtime investors to cash out, a source familiar with the matter said on Wednesday. The Swedish company is expected to directly list on the New York Stock Exchange, avoiding the road show that usually proceeds an IPO. DeMarte said he expects Wixen to settle its case for far less than the damages it is seeking and that it is unlikely any of the publisher lawsuits go to trial.

The suit, which alleges that Spotify is using thousands of songs without a proper license, was filed on December 29 in California federal court. The lawsuit alleges that Spotify took a "shortcut" and did not obtain the musical composition copyright for 10,784 songs published by Wixen.

If you are wondering why Spotify would make such an obvious blunder, it seems that they made the mistake of outsourcing the licensing responsibilities to a third-party agency that was ill-equipped to take on the monumental task of getting all of the licenses in place. Wixen is the licensee of songs from popular artists like Missy Elliott, Janis Joplin, Tom Petty, and Fleetwood Mac's Stevie Nicks.

Spotify has yet to comment on the issue.

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Spotify's big lead over Apple Music isn't a surprise because it has several years lead on Apple's streaming music service.

Music licensing is notoriously complex, with each song having multiple rights holders who can be hard to identify and locate.

The lawsuit is unlikely to have a major impact on Spotify's IPO, said Luke DeMarte, a copyright lawyer at Michael Best & Friedrich not involved.

In its own lawsuit, Wixen described the 2017 settlement as "grossly insufficient".

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