Compare with different regulatory event:
On 26 July 2022, the UK Competition and Markets Authority (CMA) published an updated paper to its market study on music and streaming and opened a public consultation on its preliminary findings. The study aims to assess whether innovation is fostered and market power is well distributed and focuses on the role that record labels and streaming services play. Among the key findings is that digitisation has significantly facilitated the distribution of music and allows artists to reach more easily new audiences. Furthermore, the study finds that three major label companies are dominating the market, creating a concentrated market position. However, the CMA noted that the current market concentration is not harming consumers or artists and stated that the three major record companies and streaming services don’t gain excessive profits on a sustained basis. The stakeholders are invited to submit comments until 19 August 2022.
Original source