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Spotify Reaches Settlement With Wixen

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Spotify has settled a $1.6 billion lawsuit filed by Wixen Music Publishing, the publisher that represents artists like Tom Petty, Missy Elliot, Stevie Nicks and Neil Young.

In December 2017, Wixen had filed a lawsuit alleging Spotify of copyright infringement, specifically of using thousands of its songs without a proper license. The lawsuit sought at least $1.6 billion in damages and injunctive relief.

The financial terms of the settlement were not disclosed. However, it can be perceived that Spotify has not paid the $1.6 billion sought by Wixen because Spotify has not filed any statements with the SEC, which would have been necessary for such a hefty settlement.

Spotify and Wixen have put out a joint statement saying they've agreed to a final dismissal of the lawsuit.

"The conclusion of that litigation is a part of a broader business partnership between the parties, which fairly and reasonably resolves the legal claims asserted by Wixen Music Publishing relating to past licensing of Wixen's catalog and establishes a mutually-advantageous relationship for the future," the statement reads.

"I want to thank Daniel Ek and Horacio Gutierrez, and the whole Spotify team, for working with the Wixen team, our attorneys and our clients to understand our issues, and for collaborating with us on a win-win resolution," Wixen president Randall Wixen, said.

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