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

Wixen Music Publishing, Inc. and Spotify USA Inc. have agreed to a final dismissal of the lawsuit filed by Wixen Music Publishing late last year. The conclusion of that litigation is a part of a broader business partnership between the parties, 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.

Company president Randall Wixen said “I want to thank Daniel Ek and Horacio Gutierrez, and the whole Spotify team, for working with the Wixen team, our attorneys and our clients to understand our issues, and for collaborating with us on a win-win resolution. Spotify is a huge part of the future of music, 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.”

“We’d like to thank Randall Wixen and Wixen Music Publishing for their cooperation in helping us reach a solution,” said Horacio Gutierrez, General Counsel and VP, Business & Legal Affairs, Spotify. “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.”