The DCMS Committee have launched a public inquiry, calling on industry experts, artists, record labels and streaming platforms to share their perspectives on the economic impact of music streaming.
MPs will examine how this is having an effect on artists, record labels and the sustainability of the music industry at large. The Committee will also consider whether the government should take action to protect the industry from piracy in the wake of steps taken by the EU on copyright and intellectual property rights.
Presently streaming accounts for more than half of the global music industry’s revenue, so the inquiry will look at the business models of platforms like Spotify, Apple Music, Amazon Music and Google Play. Music streaming in the UK brings in more than £1 billion in revenue with 114 billion music streams in the last year, however artists can be paid as little as 13% of the income generated.
The DCMS Committee is inviting written submissions to be submitted by 6pm on Monday 16 November 2020.
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