Music streaming service Spotify agreed on Friday to pay more than $43 million to settle a proposed class action alleging it failed to pay royalties for some of the songs it makes available to users.
Lawyers at Susman Godfrey and Gradstein & Marzano, who represent a class of copyright owners, announced the details of the settlement in a court filing on Friday. According to the filing, Spotify will establish a $43.45 million fund to compensate class members for past streaming or downloads of their compositions. The company also agreed to pay royalties for future streaming of songs calculated at a statutory rate.
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