The Streaming service Spotify, agreed after nearly a year with a music publisher that claimed in a lawsuit for at least $ 1.6 billion.
The authors and artists ‘ rights, specialized publishing Wixen Music withdrew the lawsuit, such as court documents on Thursday. Financial Details of the agreement were not initially known.
The music publisher had accused Spotify almost a year ago, to distribute more than 10,000 Songs from artists such as Tom Petty or Neil Young, without paying the writers accordingly. The amount is currently the equivalent of around 1.4 billion euros, because Wank demanded, respectively, $ 150,000 for each of the publisher listed 10.784 title.
For the use of Songs must be a record companies such as Universal Music, but also the authors and publishers. The latter is significantly more complex because composer and lyricist, or their successors to find. In the US, the copyright of Streaming-providers are not required to negotiate with authors or publishers, but they have to be on the planned use of advance. Spotify had failed to do this, in many cases, argued Wank in the suit.
The Streaming provider had negotiated with the record companies, but the regulation of author’s rights to another company outsourced: the Harry Fox Agency. Spotify has been aware of the fact that this Agency did not have the resources to get the necessary licenses, claimed to be Wank.
The lawsuit was taken care of because of the high sum demanded for a lot of attention. First of all, she was seen as a danger for the stock plans of Spotify – the music service has brought to his stock but, as planned, in the spring of on the market.