The label also released a statement on June 23, after the dispute was resolved, which notes that this settlement has not got "any determination as to how streaming should be categorised or streaming income split."
On Monday, Four Tet appeared to have reached an agreement with his former label Domino Records following a lengthy dispute over streaming royalties for his music.
The producer sued Domino Records last year over the amount that the label were paying him when his music was downloaded or streamed. Hebden and his team were pushing for a 50% fee for streams, while the label defended its 18% rate set in 2001, before the streaming era.
Hebden had claimed that Domino owed him roughly "£70,000" in streaming royalties last August — claiming the label had breached his contract.
On Monday (June 20), the label said that both sides had reached a settlement, saying he “should be paid a 50 per cent royalty on streaming and downloads and that they should be treated as a licence rather than the same as a CD or vinyl sale.”
Hebden has now also been promised that he will receive all historic payments alongside his 50% share.
As BBC reports, due to the matter being settled outside of court - it cannot be cited as legal judgement for any potential future cases. Domino Records also noted in a statement, which notes that this settlement won't set the precedent for future cases such as this.
Domino says: "Domino are pleased that Kieran Hebden has chosen to settle his 2020 claim and accepted financial terms first offered to him in November 2021.
"Kieran’s claim arose from differing interpretations of specific clauses in a contract entered into by Kieran and Domino in 2001 in the pre-streaming era, and the application of those clauses to streaming income. Since 2021 Kieran has added to and pursued his claim despite numerous attempts by Domino to settle the matter.
"Neither the Courts, nor the settlement terms, have made any determination as to how streaming should be categorised or streaming income split.
"The case now having been settled, we are glad to be able to dedicate our full attention to resourcing and supporting our artists and we wish Kieran continued success in his career."
The debate around royalty fees have been a large topic of conversation within the music industry in recent years. In 2021, the UK’s Department for Culture, Media and Sport called for a "reset" in the way streaming works and pays artists.
Aneesa Ahmed is Mixmag's Digital Intern, follow her on Twitter