The lawsuit said that Spotify initially tried to work with record labels but, "in a race to be first to market, made insufficient efforts to collect the required musical composition information." Spotify did not immediately comment on the latest suit. Even if unsuccessful, lawsuits amount to a headache for Spotify as the company considers going public. Spotify, which has been valued at anywhere from $8 billion to $16 billion, has maintained its dominance as streaming rapidly grows and transforms the recorded music market. Spotify said in July that it had 60 million users worldwide who pay for subscriptions, with 80 million more using its free tier.

Source: The Nation Bangkok January 02, 2018 22:07 UTC