Compare with different regulatory event:
On 19 August 2022, the UK Competition and Markets Authority (CMA) closed the public consultation on its updated paper to its market study on music and streaming. The update paper presents the initial findings from the study launched on 27 January 2022, which aims to assess whether innovation is fostered and analyze the role that record labels and streaming services play in the music market. In its paper, the CMA noted that digitisation has significantly facilitated the distribution of music and allows artists to reach more easily new audiences. Furthermore, the study found 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 CMA will publish its final report until 26 January 2023.
Original source