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

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

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

Wixen handles titles by Stevie Nicks, Neil Young, Tom Petty, the Doors, and Weezer's Rivers Cuomo, among others. Some of these songs are owned by Wixen via copyright. At the heart of the suit, filed December 29 in U.S. District Court in Los Angeles, is Wixen's allegation that Spotify did not obtain one of two licenses required to distribute music.

Stefan Blom is leaving his post as Spotify's chief content officer in the coming weeks, the streaming service confirms to Billboard.

Spotify was recently served a lawsuit that demanded up to $1.6 billion in compensation for a number of songs that the company allegedly uploaded without acquiring the proper license. It also alleges that Spotify knew the agency "did not possess the infrastructure to obtain the required mechanical licenses", that it knew it didn't hold the licenses required to stream certain songs, and that it continued anyway.

Wixen's lawsuit says the proposed settlement "does not adequately compensate Wixen or the songwriters it represents".

For well over a decade, the music industry has been trying to figure out the Internet and they have failed more often than they have succeeded.

Meanwhile, Spotify reportedly questioned Wixen's authority to file a case against them on behalf of the artists mentioned above. The streaming service claimed that Wixen did not give their clients enough time to opt out of the legal action.

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. It is a response to a complaint saying that labels are getting significantly more money than the artists.

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