Spotify's IPO May Have Trouble! | MUSIK !D TV NEWS
Wixen Music Publishing made a lawsuit against Spotify for slightly $1.6 billion. WMP believed that Spotify is illegally under-paying songwriters while giving substantial yearly salaries to its executives.
“All we’re asking for is for them to reasonably compensate our clients by sharing a minuscule amount of the revenue they take in with the creators of the product they sell. Music fans should be able to enjoy Spotify, knowing that their favorite artists are being treated fairly.” – Randall Wixen, Founder & President of Wixen Music Publishing
The lawsuit was filed on December 29 in California pleading that Spotify is presenting thousands of Wixen- regulated songs without a decent mechanical copyright license. Also, Wixen refused to join in a settlement offer from Spotify to a class action influenced by songwriters David Lowery and Melissa Ferrick, which cites Spotify of intruding mechanical copyrights in the US.
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