Spotify settles dispute with American artists

World leader in music streaming with 50 million paying subscribers and more than 100 million users in total, Spotify has ended legal proceedings that could have cost it dearly.

Spotify-logoAgreement marks the end of a class action in the United States by two independent artists who accused Spotify of distributing works without paying royalties to song composers.

Spotify will be leaving for $ 43.4 million which will add to a fund aimed at compensating injured artists. Last year, it was with the National Music Publishers' Association that Spotify signed an agreement for late royalties.

In April, Spotify signed a license agreement with Universal Music Group for access to its catalog and providing that artists of the record company can reserve their new releases to paying subscribers for a period of two weeks.