Published: Sun, January 07, 2018
Hi-Tech | By Wayne Curry

Spotify's chief content officer is leaving ahead of its IPO

Spotify's chief content officer is leaving ahead of its IPO

Either a direct license from Wixen or a compulsory license would have permitted Spotify to reproduce and/or distribute the Works as part of the Service, including by means of digital phonorecord deliveries ("DPDs"), interactive streaming, and limited downloads. His departure comes days after reports surfaced that in late December Spotify had confidentially filed to go public. Axios first reported news of the filing.

The company is also now preparing for an initial public offering (IPO).

Spotify's Chief Content Officer, Stefan Blom, is leaving the streaming company in the coming weeks - amid the firm's attempt to list on the New York Stock Exchange.

Music streaming service Spotify has filed confidentially with USA regulators for an initial public offering and is targeting a direct listing in the first half of 2018 that would allow some longtime investors to cash out, a source familiar with the matter said on Wednesday.

Apple Music, in comparison, last reported having 30 million subscribers in September 2017, all of them paying a monthly fee.

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It was recently learned that Wixen Music Publishing filed a case in California against the Sweden-based music streaming giant.

The lawsuit alleges that Spotify outsourced its copyright responsibility to a third party, Harry Fox Agency, which was "ill-equipped to obtain all the necessary mechanical licenses". Wixen's claim basically stated that Spotify did not have all the correct licenses to stream certain songs.

A rep for Spotify declined Variety's request for comment.

Music licensing is notoriously complex, with each song having multiple rights holders who can be hard to identify and locate.

This is not the first time that Spotify has found itself in the hot seat, but this is definitely the most they have stood to lose at once.

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