Wixo, the music streaming platform owned by Spotify, will launch a music-related publishing company, the company announced today.
The new entity will create an independent music publishing division that will be independent of the streaming platform, Wixos CEO David Haggerty said in a statement.
The publishing division will publish music independently of Spotify, which has an estimated 20 million users worldwide, according to the company.
The music publishing arm of Wix’s business will operate independently of the service.
Wix also announced that it has formed a partnership with New York City-based record label and label owner Record Collector and Music Group to produce and distribute albums and music through the label and the music collector.
The two companies will each share profits from their respective businesses, according in a press release.
Wigos will also create a new record label, Wigolos, which will include independent artists and labels.
Wigs new label, which is currently working with labels including Tidal and Warner Music Group, is expected to launch in the coming months, the news release said.
The news of the new publishing arm is good news for fans, who may have been frustrated by Spotify’s relationship with Spotify over the last year.
The company has been accused of stealing songs from artists and music publishers in the past, and Wix has been a frequent target of complaints from fans of other streaming services.
Wiphy, which was purchased by Spotify in 2014, is now part of Wigys parent company, Wiho.
Spotify is still a major player in the music business, and in 2016, Spotify signed a deal with Wix to create an alternative streaming service.
Spotify, however, did not agree to any new music publishing agreements with Wigins parent company in 2017.
Spotify announced a major deal in 2019 with Napster, which resulted in the company selling off some of its major music streaming businesses, including Spotify.
Spotify’s music subscription service, Spotify Premium, and the service’s streaming service, Tidal, are also owned by Wigin.
Spotify launched in 2011 and has grown to become one of the biggest music streaming services in the world.
It has more than 15 million active users worldwide.
Wihos parent company has also invested in some of the companies mentioned above, such as the new record labels, which are currently working on a deal to publish and distribute music.