ISM response to Competition and Markets Authority streaming report
The Competition and Markets Authority (CMA) has concluded its independent study into the streaming market. The CMA concluded the streaming market is working well for consumers and that a competition intervention is not warranted to address concerns around remuneration for artists.
The CMA had launched a market study of the streaming market in January 2022, seeking to examine the market, exploring the roles played by record labels and music streaming services.
In July 2022 the CMA published an update paper on the market study. This paper set out initial findings and the CMA's reasoning for proposing not to make a market investigation reference. The ISM responded to the initial update paper expressing our disappointment in the decision not to investigate the market.
We acknowledge the CMA’s position that a competition intervention would not address issues around remuneration for artists from streaming and that government has a role to play in supporting music creators. We believe the CMA’s position however fails to recognise the power imbalance that exists in the market between artists and the larger labels and streaming services, which if left unaddressed has the potential to stifle the innovation and development the sector needs for its sustainability. The ISM will continue to campaign for fair terms for creators and in particular ensuring musicians receive fair remuneration from streaming.