Spotify also settled a matter involving the National Music Publisher’s Association for unpaid royalties in the amount of $30 million. Then, they settled a class-action lawsuit over copyright infringement for $43.3 million.
Harry Fox Agency states on their website that they are America’s “premiere licensing agent for securing mechanical licenses, working with publishers, artists, labels, and increasingly with new music services, products, and platforms.”
The plaintiff, Wixen Music Publishing, stated in the lawsuit that Harry Fox Agency was “ill-equipped to obtain all the necessary mechanical licenses.” Harry Fox Agency’s website also includes detailed information on their website related to mechanical licenses, how to obtain them, and the statutory rates related to them.
Spotify Is Currently Worth $20 Billion
Spotify hopes to continue to grow once it becomes a publicly traded company. It grew roughly 20% over the last year and is valued at around $20 billion. The company is considered the market leader in streaming music. According to Statista.com, Spotify had more than 60 million paying subscribers in 2017.
