DCMS Committee: Transcript from session on Economics of music streaming - Dec 8

MPs will examine what economic impact music streaming is having on artists, record labels and the sustainability of the wider music industry.

With streaming currently accounting for more than half of the global music industry’s revenue, this inquiry will look at the business models operated by platforms such as Spotify, Apple Music, Amazon Music and Google Play. Music streaming in the UK brings in more than £1 billion in revenue with 114 billion music streams in the last year, however artists can be paid as little as 13% of the income generated.

The Committee will also consider whether the government should be taking action to protect the industry from piracy in the wake of steps taken by the EU on copyright and intellectual property rights. The inquiry is seeking the perspectives of industry experts, artists and record labels as well as streaming platforms themselves.