Economics of music streaming: follow-up – Report Summary

Summary

In July 2021, we published our Report into the Economics of music streaming, which called for a “complete reset” of the streaming market. In its Response, the Government described our Report as “a key moment for the music industry”. It set out a series of workstreams with the aims of addressing the key issues that our inquiry highlighted.

On 15 November 2022, we held an oral evidence session to discuss the reset of streaming recommended in our July 2021 Report. This Report provides an overview of the work undertaken by Government, arm’s length bodies and the industry to date. It has two main recommendations:

• The Intellectual Property Office (IPO) needs to provide more transparency with its working groups, which should also consider, and give greater focus to, remuneration and rights revocation. To address all these issues effectively more departmental and ministerial representation is needed from the Government; and
• The Government should take a more proactive strategic role when it comes to cultural policy, including regarding music, to ensure it takes a cohesive approach across all departments in supporting cultural production and the creative industries A new wide ranging national strategy for music should be developed by the DCMS Department including an assessment of the impact of digital technology on musicians, songwriters and composers, and on the UK music industry’s potential for future growth.

We will keep this work under review and will continue to monitor economic and technological challenges and disruptions to the music streaming market as they emerge.