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Wixen Music Publishing Files $1.6 Billion Lawsuit Against Spotify

Wixen Music Publishing Files $1.6 Billion Lawsuit Against Spotify

It has emerged that music streaming platform Spotify is being sued by Wixen Music Publishing Inc for indexing thousands of songs, including those of The Doors, Tom Petty and Neil Young - as well as the likes of Rage Against the Machine, Sonic Youth, and The Black Keys - without the correct licensing agreement. Spotify will reportedly go public under a direct listings - which allows a company to sell stock without the usual investor roadshow and saves on some banking expenses.

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Spotify is gearing up to launch an initial public offering, expected as soon as first quarter of 2018, after filing confidential documents with the SEC last month, according to reports.

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Global News has reached out to Spotify for further comment. A source claimed to the Wall Street Journal, however, that the suit won't in fact affect the timing for the direct listing. 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. They alleged that Spotify had failed to adequately pay royalties for some songs on their service.

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With 60 million paying customers and additional advertising revenue, Spotify are not thought to be looking to raise capital, but are instead attempting a unique trading system known as "direct listing". Artists have long vilified Spotify's compensation arrangement, arguing that its per-stream rates are too low and that it willfully neglects to seek out the right licenses. In addition, Wixen Music Publishing is also seeking attorneys' fees and costs and injunctive relief.


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