CMA formally starts their official investigation into UK streaming market
The UK’s Competiton and Markets Authority has formally begun its investigation into the UK music streaming market. A report by the DMCS Committee into the dominance of major labels within the streaming market and the low rates paid to artists last year saw interviews conducted with artists, label heads and publishers. It found that streaming needed a ‘total reset’ and made its recommendations to the UK government, which commissioned the CMA report.
The Ivor Novello’s and the Musician’s Union, representing a huge number of artists and songwriters across the UK have welcomed the CMA investigation. “The CMA’s study will help build a deeper understanding of how firms in the market influence listeners’ choices and experiences,” the government said in a statement. “While focusing on potential harm to consumers, the CMA will also assess whether any lack of competition between music companies could affect the musicians, singers and songwriters whose interests are intertwined with those of music lovers.”
According to MusicWeek, the report “will examine the music streaming market, from creator to consumer, paying particular attention to the roles played by record labels and music streaming services.” Last year it was revealed that only 0.4 percent of artists make a living from fans streaming their music.