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In The Know: SoStereo's Weekly Music Summary December 21, 2018

SoStereo's weekly music news summary with Spotify settling an expensive lawsuit and more.
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Spotify & Wixen Music Publishing Settle $1.6 Billion Lawsuit:

Spotify and Wixen Music Publishing have settled a $1.6 billion lawsuit, which Wixen leveled against Spotify right at the beginning of the new year. The settlement amount was not disclosed, but sources tell Variety that the number was well short of the $1.6 billion number, not that surprisingly. Wixen handles music for some legendary musicians like Tom Petty Neil Young, Steely Dan’s Donald Fagen, Weezer’s Rivers Cuomo, Stevie Nicks, and others. The company said that Spotify never obtained the proper licenses to use their artists music and sought damages. 

Tidal Finally Launches Personalized Playlists:

Tidal has finally caught up to Spotify and Apple Music in one category. It has finally rolled out personalized playlists that are similar to Spotify’s Daily Mix or Apple Music’s For You compilations. For Tidal it is called My Mix and delivers six “custom curated collections,” according to The Verge. A maximum of 50 songs will be in each mix, chosen by humans and algorithms. The songs can be new and old and updated regularly.

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Warner Music Group Tops $4 Billion In Annual Revenue:

Warner Music Group has announced its year-end financials and things are looking up. The major label has increased its revenue 12% from last year’s tally of $3.58 billion to just over $4 billion. It also doubled its net income to $307 million as compared to $149 million. The United States accounted for 46.6% of the revenue, while Ed Sheeran, TWICE, The Greatest Showman soundtrack, Cardi B and Dua Lipa were the label’s biggest sellers.

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