Spotify IPO filing reveals how complicated it is to license music rights [CNBC]
SONY CORP (SNE)
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Source: CNBC
Spotify wants to sell stock to investors — but first it will need to convince them it's worth buying in to the complex process of selling music. The company, which filed its plans to go public on Wednesday , said it has paid more than $9.7 billion in royalties to artists, music labels and publishers since it launched in 2006. It had 71 million paying subscribers and 159 million monthly active listeners as of December, making it the largest streaming music service across the world by far . In general, Spotify gets two classes of licenses for the music it distributes: Sound Recording License agreements, which cover the rights to a particular recording, and Musical Composition License Agreements, which cover the people who own the rights to the song. Recording licenses. For the rights to the actual recordings, Spotify has deals with the big three record labels -- Universal Music Group , Sony Music Entertainment Group and Warner Music Group . Sony Music also o
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