Published: Sat, January 06, 2018
Markets | By Noel Gibbs

Spotify face $1.6 billion copyright lawsuit

Spotify face $1.6 billion copyright lawsuit

According to the documents filed by Wixen, Spotify has approximately 30 million songs in its catalogue, and they allege that the company has infringed almost 6,300,000 of them, or around 21 per cent of its roster. They filed suit with a federal court in California on December 29, contending that Spotify failed to license its songs, and is seeking $1.6 billion in damages.

It is the exclusive licensee of songs by artists like Tom Petty, Neil Young, Janis Joplin and the Doors. Earlier this year, Spotify settled a class-action lawsuit for $43.4 million and a separate lawsuit with the National Music Publishers Association for $30 million.

Spotify plans to list its shares on the New York Stock Exchange though an unusual approach known as a direct listing. Fortune estimated that the company was worth anywhere from $16 to $20 billion in September, and it looks like that number could grow substantially larger seeing as how Spotify has apparently filed for an IPO.

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Spotify was recently dealt a $1.6 billion lawsuit, alleging copyright infringement.

The music industry has long since been at odds with music streaming and it appears that the battle isn't over yet.

But there's also been chatter that it will not technically be an IPO, but rather a "direct listing".

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Whatever happens, Spotify may have to start cutting up its payments to rights holders with an X-acto knife, parsing microscopic payments among several parties for each stream of "Free Fallin'".

Spotify is now facing three other lawsuits in Tennessee that were filed by songwriters and music publishers.

It is the latest lawsuit to hit the fast-growing streaming company.

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