In a world where we have technology at our fingertips’, streaming music has gone from strength to strength. The days of queuing at Woolworths to get your hands on your favourite artists new music, with a click of a button any song you wish to listen to can be immediately in your ears.
With streaming being such a boom, it is an industry which has now caught the attention of the Competitions and Markets Authority (CMA) in the UK who may need to dish out some stern words.
In the UK, the key streaming platforms are Spotify, Amazon and Apple Music. With these three dominating, it’s the CMA’s job to make sure these businesses are not restricting the market for others to provide such a service and also not being too dominant which may then have a negative impact on the consumer.
The CMA will complete a case study and report to the Government with its findings. It will certainly be interesting to see if the CMA suggest or enforce some changes to ensure that the industry remains competitive, and the streaming platforms do what they can to ensure artists can earn what they deserve from streaming.
Keep your eyes peeled on the reading room for any updates.