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The parties announced the agreement on Thursday, saying it
would allow independent and major publishers to receive
royalties for songs on Spotify where ownership information of
the songs was not previously known.
Billboard senior editor Jem Aswad said the agreement had been in
the works for some time and both sides would benefit.
"It's a win for the songwriters and publishers on one hand
because they are going to get paid, and it's a win for Spotify
because it will end some of the lawsuits. It will end some of
the disputes going on," Aswad said.
Billboard reported the settlement would total around $30 million
and association members will have three months to opt in to the
agreement.
Musicians have sued Spotify over royalty issues, including
singer-songwriter David Lowery who filed his suit in Los Angeles
in December.
Lowery's suit was the latest salvo against Spotify by a
musician, a battle which began in earnest when Taylor Swift
yanked her entire catalog from the online streaming platform in
late 2014 following the release of her album "1989."
(Reporting by Curtis Skinner in San Francisco; Editing by Leslie
Adler)
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