The DCMS report of music streaming has delivered a damning report stating that it needs a “complete reset”. The parliamentary report calls on the UK competition watchdog to investigate the commercial power wielded by major record labels. The modern music model has become unworkable for artists and a complete breakdown and called out for being unfair and creating a situation that is unworkeable.
The controversial streaming issue that has been called out by musicians for the lt couple of years saw the enquiry that started last October that stated that unless artists received a larger share of revenues, the UK’s music landscape could be transformed within a decade.
The report says: “The pitiful returns from music streaming impact the entire creative ecosystem. Successful, critically acclaimed professional performers are seeing meagre returns from the dominant mode of music consumption. Non-featured performers are frozen out altogether, impacting what should be a viable career in its own right, as well as a critical pipeline for new talent.”