United Kingdom: Issued CMA Report on its market study into music and music streaming

On 29 November 2022, the UK Competition and Market Authority (CMA) closed its market study into music and music streaming services and published its final Report. The CMA found that consumers had benefited from digitisation and competition among music streaming services. Consumer prices fell more than 20% between 2009 and 2021, with many offering services for free with advertisements. During public consultations, concerns were raised by artists and songwriters over earnings from streaming. The CMA concluded, however, that the creators' earnings are not influenced by the concentration level in the recording, record labels or streaming services markets, and interventions to improve competition would not affect profit sharing. Furthermore, the Report found that three major label companies dominate the market, creating a concentrated market position, but the CMA noted that the current market concentration is not harming consumers or artists. Finally, CMA found that some parts of the streaming market have improved for some creators in recent years, with a greater choice of record labels available. Nevertheless, the Report highlighted that policymakers could further consider the issues raised by creators and issue regulations.