An inquiry into the music industry, examining whether the rise of streaming services like Spotify and Apple Music are fair and competitive for the industry is set to begin.
The UK watchdog will look at the issues that exist for both listeners and artists, gathering evidence to decide the best course of action against giants.
Chief Executive of the CMA, Andrea Coscelli, said: “The UK has a love affair with music and is home to many of the world’s most popular artists. We want to do everything we can to ensure that this sector is competitive, thriving and works in the interests of music lovers.”
Market studies are generally used to identify and tackle any competition and consumer issues, and this comes after the Digital, Culture, Media and Sport Committee (DCMS) recommendation last month.
Julian Knight MP, chair of the DCMS Committee, describes this move as a “key moment” for the music industry, where the “unassailable position” of the major streaming platforms are gradually being exposed.
Songwriter and producer Nile Rodgers, Radiohead’s Ed O’Brien, and Elbow’s Guy Garvey are among some of the artists who gave evidence in this initial report.
The inquiry demonstrates the growing concern around streaming income versus artist remuneration, and the market study is hoping to highlight and ultimately redress this supposed unfairness. This is especially relevant as streaming accounts for more than 80 per cent of all music listened to in the UK.