Spotify announced Thursday that they settled a lawsuit brought against them last December by Wixen Music Publishing, who was representing artists like Tom Petty, The Doors, and Neil Young. Wixen claimed that the music streaming platform was streaming tens of thousands of songs without proper licensing or compensation, and they were seeking damages of up to $1.6 billion.
According to Thursday's announcement, the suit was dismissed, and a "broader business partnership between the parties" has been established "which fairly and reasonably resolves the legal claims asserted by Wixen Music Publishing relating to past licensing of Wixen's catalog and establishes a mutually-advantageous relationship for the future."
Spotify will also pay an undisclosed sum to Wixen, and Wixen's president Randall Wixen even called Spotify a "true partner to the songwriting community" as well as "a huge part of the future of music."
Should you be interested, the entire statement can be read below:
Spotify and Wixen Announcement of Resolution of Dispute
