Spotify settles $1.6bn lawsuit over songwriters' rights

Music streaming service Spotify has settled a lawsuit accusing it of infringing the rights of songwriters and publishers.

Wixen Music Publishing had sought $1.6bn (£1.3bn) in damages for what it argued was the infringement of more than 10,000 songs.

The California-based firm represents artists such as Neil Young and the Black Keys.

The lawsuit was settled for an undisclosed amount.

Although Spotify has struck deals with major record labels, Wixen had accused Spotify of failing to address the claims of songwriters and publishers, who have separate rights to the compositions.

"Wixen Music Publishing and Spotify USA have agreed to a final dismissal of the lawsuit filed by Wixen Music Publishing late last year," the two companies said in a statement.

"The conclusion of that litigation is a part of a broader business partnership between the parties, which fairly and reasonably resolves the legal claims asserted by Wixen Music Publishing relating to past licensing of Wixen's catalog and establishes a mutually-advantageous relationship for the future."