CMA
market study into music streaming
The
Competition and Markets Authority has announced that it intends to launch a
market study into music streaming.
This
measure follows the July 2021 House of Commons Digital, Culture, Media and
Sport Committee report on the economics of music streaming. The Committee recommended that the government
ask the CMA to undertake a full market study.
The
CMA has written to the government and the Committee outlining its intention to
refine and develop the final scope of a market study before formally launching
it as soon as possible.
The
CMA has raised concerns about the dominance of music groups Sony Music,
Universal Music and Warner Music and their impact on recording artists’
earnings. Together, these three
companies control up to 75% of the UK music recording market.
The
CMA is also conducting a Phase 2 merger investigation into Sony's completed
acquisition of AWL, an 'artist and label' services provider.
https://www.gov.uk/government/news/cma-plans-probe-into-music-streaming-market
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