London – Regulators scrutinize the UK music streaming market to see if there is enough competition after lawmakers underscored concerns that major online platforms like Spotify could be too dominant. We’re getting stronger.
UK competition watchdog announced on Tuesday that it will conduct “market research” to assess whether new measures are needed to improve streaming competition.
The Competition and Markets Authority has acted in response to inquiries from lawmakers who said in a report that the three major music labels, Universal Music, Sony Music and Warner Music, dominate the UK record market. This could improve transactions with streaming platforms and put smaller rivals at a disadvantage, but artists complain they are not getting a fair distribution of streaming royalties.
The watchdog said the way people listen to music has changed over the past decade and that streams now account for more than 80% of all music played in the UK and need to be reviewed.
“The UK loves music and is home to many of the world’s most popular artists,” said Andrea Kocheri, CEO of Executives. “We want to do everything possible to ensure that this sector is competitive, prosperous and works for the benefit of music lovers.”
The Competition and Markets Authority uses market research to determine whether there are competition or consumer issues in a particular market, and if so, recommends or enforces changes to government regulations. , decide how to deal with these issues.
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British music streaming faces scrutiny from competitive watchdog
SourceLink British music streaming faces scrutiny from competitive watchdog