Spotify in £1.18bn copyright lawsuit

Posted on 9 January, 2018 by Bailey Clarke

Spotify, the Swedish based music streaming service has been accused of breaching the rights of songwriters and publishers.

spotify-news-story

The online music giant has 18 commercial premises around the world, thanks in part to its huge turnover. With offices in New York, London, Singapore and of course Sweden, Spotify is spread far and wide but now faces a new threat.

The music publisher Wixen Music Publishing, who represent music artists such as Weezer, Tom Petty and The Doors, is suing Spotify for at least £1.18bn ($1.6bn) for more than 10,000 songs. It is alleged that Spotify failed to get the correct licences from Wixen that would have allowed the streaming service to distribute the songs.

This isn’t the first time Spotify have faced similar claims, as back in 2015 a punk label Victory Records had claimed it was missing out on composition royalties. In 2016 Spotify paid $20m in outstanding royalties to a number of publishers via the National Music Publishers’ Association then again in May of 2017 Spotify settled lawsuits with three small publishers including the estate of Jaco Pastorius for over $43m for allowing some of their songs be made available to their users without consent.

On a positive note, Spotify as a music service is the most successful in the business, with reports indicating they have 60m paying users. Spotify are currently valued at $19bn and are looking to float on the stock market in the very near future.

When it comes to exchanges, Spotify is eyeing up the New York Stock Exchange and furthermore they are reportedly also considering a direct listing. Riding a currently high value and their documents already filed in December 2017 we could see them trading very shortly.



Related Posts


Leave a Reply


Recent Posts

UK retail assets sold by St Mowden as retail market slows

Demand for retail space lowest in 9 years

UK Local Authorities spend 3.8bn on Commercial Property in the last 5 years.

Retail sector feeling positive in Northern Ireland

Brexit silver lining for warehouse builder Tritax

Tycoon plans £1bn landgrab with Network Rail bid

UK Commercial Property investments off to a strong start in 2018

bigstock-Speaker-at-Business-Conference-6newuse

Billions of Midlands investment to be showcased at MIPIM 2018

Northern Ireland Commercial Property boosts due to shopping centre sale

bigstock-View-Of-The-City-Centre-Of-Edi-95179379

Edinburgh needs developments to act as incentive for investment

spotify-news-story

Spotify in £1.18bn copyright lawsuit

market cart and supermarket view and parking

Toys R Us UK Stores Facing Administration

new-and-modern-warehouse

Amazon and other online giants changing the game in UK commercial real estate

Beers-In-A-Flight

British Pubs face closing due to soaring business rates

original_images_Google-entrance

Google new London HQ gets the go-ahead!

office-620817_960_720

Significant Increase in Female Self-Employment