WIXEN STRIKES A DEAL WITH SPOTIFY

Wixen Music Publishing and Spotify USA have resolved their differences by striking a business partnership and dismissing Wixen’s lawsuit.

Wixen, with a catalog that includes songs by Tom Petty, Neil Young and Stevie Nicks, claimed Spotify lacked the proper license to use the songs and was seeking $1.6b in damages.

While no dollar figure was disclosed, biz watchers speculate that the amount of the settlement may have been significantly smaller than was first touted in coverage of the litigation, given that Spotify has not issued a filing about it.

Wixen President Randall Wixen called the deal “a win-win resolution.”

“Spotify is a huge part of the future of music,” he said, “and we look forward to bringing more great music from our clients to the public on terms that compensate songwriters and publishers as important partners. I am truly glad that we were able to come to a resolution without litigating the matter. Spotify listened to our concerns, collaborated with us to resolve them and demonstrated throughout that Spotify is a true partner to the songwriting community”

Horacio Gutierrez, Spotify’s General Counsel and VP, Business & Legal Affairs, said “Wixen represents some of the world’s greatest talents and most treasured creators, and this settlement represents its commitment to providing first-rate service and support to songwriters while broadening its relationship with Spotify.”