Connect with us

Hi, what are you looking for?

Music industry is as tough as ever, says the watchdog
Music industry is as tough as ever, says the watchdog
Music industry is as tough as ever, says the watchdog

Science and Technology

Music industry is as tough as ever, says the watchdog

Music industry: Britain’s competition watchdog has found that streaming has made the music industry difficult for many artists.

Advertisement. Scroll to continue reading.

The Competition and Markets Authority (CMA) said more than 80% of recorded music. Was now listened to via streaming, with more than 138 billion streams recorded in the UK last year.

MPs called for a “total reset” of the Music industry, amid “pitiful returns” for artists.

Advertisement. Scroll to continue reading.

They called on the CMA to examine the power of the major players.

Although the report was primarily aimed at consumers, the watchdog found. That a small number of high-profile artists enjoyed most of the financial success. While the majority did not earn any substantial income.

Advertisement. Scroll to continue reading.

CMA interim chief executive Sarah Cardell said. “It’s as tough as ever for many artists – and many feel they’re not getting a fair deal.”

However, streaming the notes to the message made it easier not only for listeners to access the music. But also for artists to record and share it.

Advertisement. Scroll to continue reading.

Low income


The report addresses claims that most artists are paid too little for music streams and the business model only benefits major labels and stars.

A million streams a month would earn an artist only about £12,000 a year, it is said.

Advertisement. Scroll to continue reading.

Spotify is thought to pay between £0.002 and £0.0038 per stream, Apple Music around £0.0059.

YouTube pays the least – about £0.00052 (0.05p).


Catherine Willcox of British country music duo Ward Thomas told BBC News. “After more than a decade in the business and achieving relative success. A number one album, sold-out tours and many exciting festival spots. It may seem from the outside that we would be quite well financially.

Advertisement. Scroll to continue reading.

“However, with the overall decline in album sales and the rise of streaming. No one is quite sure how they will sustain a creative career. As the landscape of the industry is changing so dramatically.”

Music industry is as tough as ever, says the watchdog
Music industry is as tough as ever, says the watchdog

CMA noted that each artist is competing harder than ever for each of these streams. Both with new artists and in the form of a back catalog of all the Music industry ever made.

“We’re incredibly lucky to be able to do it full-time for the moment. Wilcox said, “but it’s always very thin — and that’s coming from two artists who profit from the masters, the performance rights, and the live shows.

Advertisement. Scroll to continue reading.

“That’s even more difficult for songwriters who only get their author’s cut.”

The best songs


More artists than ever are releasing music, the report says, but that doesn’t mean more are being successful.

Advertisement. Scroll to continue reading.

Analysis published by the Intellectual Property Office (IPO) shows. That the number reaching one million UK streams per month remains low at around 1,700.

“Some of the best songwriters we know have had to secure other sources of income, so they can’t devote proper time to their craft,” Wilcox said.

Advertisement. Scroll to continue reading.

“The best songs are yet to be written. But if they aren’t fairly compensated, too many very talented people will be forced out.”

A new audience


The report found that streaming was now the primary means for artists and labels to distribute music, and the public had embraced it.

Advertisement. Scroll to continue reading.

Some of the other key findings include:

Access to a wide range of music – old and new. Means older songs can more easily find new life and new audiences
The number of artists streaming music grew from around 200,000 to 400,000 between 2014 and 2020
A number of groups called for a full market survey by the CMA – and other solutions to support singer-songwriters.

Advertisement. Scroll to continue reading.

However, the watchdog rejected this because “our initial findings did not identify any significant concerns regarding consumer outcomes around music streaming”.

The #BrokenRecord campaign was one such group. Founded by Gomez member Tom Gray at the start of the lockdown after artists lost touring income.

Advertisement. Scroll to continue reading.

He told BBC News: “The real problem is the mantra that things have always been so hard.

“Indeed ‘as hard as’ suggests that things could have been worse – but we see no evidence for such a claim.

Advertisement. Scroll to continue reading.

“The IPO did a report on creator earnings last year and couldn’t find data to say where it was in the past, so it seems pretty unfounded.

“It’s harder than ever for creators to make money from a music recording.”

Advertisement. Scroll to continue reading.

‘Good deal’


Listeners now have access to a huge selection of music for a fixed monthly subscription fee – and they’ve come down in real terms.

But Mr Gray said it was bad for the artist.

Advertisement. Scroll to continue reading.

“Rhapsody, the first streaming service, was $9.99 in 2001,” he said.

“Streaming costs the same 21 years later.

Advertisement. Scroll to continue reading.

“Obviously this is a good deal for the consumer – but does it destroy the value of the music itself?

“The answer should be ‘Yes’.”

Advertisement. Scroll to continue reading.

The CMA also touched on “strong concern” from some artists.

Mr Gray said: “While music has always been uncertain, the pro-rata system is significantly more winner-takes-all than anything we’ve seen before.”
The CMA said the market was delivering good results for customers but would be concerned if:

Advertisement. Scroll to continue reading.

Innovation in the industry has decreased


The balance of power shifted and publishing and streaming services began to make sustained and substantial excess profits
Independent Music Association CEO Paul Pacifico said: “We welcome the CMA’s updated report, which confirms what we know – that building success in music is hard – and highlights the need for organizations across music to work together to ensure positive outcomes for the sector. .”

British Phonographic Industry chief executive Geoff Taylor also welcomed the findings, saying: “We will continue to work with the CMA and the government to help ensure the streaming market works for artists, songwriters, record companies and fans.”

Advertisement. Scroll to continue reading.

‘serious problems’


Ms Cardell said: “Our initial analysis shows that outcomes for artists are not driven by competition-related issues such as persistent excess profits.

“We would now like to hear views on our initial findings to help guide our thinking and inform our final report.”

Advertisement. Scroll to continue reading.

“Today’s edition of the CMA highlights what it sees as the positive impacts of streaming music – but we feel that they have failed to recognize the very serious issues they present to creators,” she said.

Advertisement. Scroll to continue reading.
Click to comment

Leave a Reply

Your email address will not be published.

You May Also Like

News

Tmz Baltimore Tzz TMZ Baltimore Twitter Full Video Explained Virus Reddit!Here we share with you the latest news, that the Twitter video “Tmz Baltimore”...

Science and Technology

Two non-executive directors of Huawei UK have resigned due to the company’s position regarding the Ukrainian conflict. The BBC understands that Sir Andrew Cahn...

Sports

Afghanistan Cricket Board (ACB) to carry on its activities as usual, sources told Geo News Thursday.According to the sources, Afghanistan Cricket Board ACB has...

News

Viral leaked videos, the referee Diana Di Meo victim of revenge porn: “I denounce the video with my head held high,” Says Diana Diana...

News

“@Mariaramirez96 goes viral frog video” shared an original frog video. A live frog emerges from a South African woman’s v****a. On Twitter, who is...

Business

The Crypto Boom SYDNEY, Nov 8 (Reuters) – On Monday. Bitcoin surged near its all-time high. While ether set a new high as cryptocurrencies...

News

Mr Beast, a Famous YouTuber, has made news after his obscene video leaked on social media. Mr. Beast’s video is leaked on Twitter and...

Reviews

In the event that you’ve known about any digital currency trade, it’s likely Coinbase. Bitcoin early adopters have been purchasing and exchanging coins on...

Advertisement