Spotify is being sued for $1.6 Billion

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Looks like 2018 may be a turbulent year for Spotify as the streaming platform is currently being sued for $1.6 Billion by Wixen Music Publishing.

The publishing house looks after the likes Missy Elliott, The Doors, Rage Against The Machine, Tom Petty and Ride and has said that Spotify didn’t secure the necessary rights for tracks by their artists.

In part a statement released by Randall Wixen, CEO Wixen, he said: “We’re just asking to be treated fairly. We are not looking for a ridiculous punitive payment. But we estimate that our clients account for somewhere between 1% and 5% the music these services distribute,”

He continues “Spotify has more than $3 billion in annual revenue and pays outrageous annual salaries to its executives and millions per month for ultra-luxurious fice space in various cities.”

An initial $43 Million settlement fer made by Spotify last year was rejected and now they face a much bigger lawsuit over the coming months.

Spotify have so far refused to comment on the matter. More news when it arrives.