Music Ally Focus #23: UK streaming inquiry publishes long-awaited report – calling for 'complete reset' of market (and major labels suddenly have a lot on their plate)

👋 Music Ally’s free weekly newsletter, The Knowledge: musically.lnk.to/knowledgepo Music business news, analysed in brief by Music Ally's Stuart Dredge and Joe Sparrow. Music Ally has reported extensively on the hearings at the UK parliament’s Digital, Culture, Media and Sport (DCMS) inquiry into the economics of music streaming – which has now published its report. And it’s fair to say major labels will be wincing the most as they read its recommendations – which include: Introducing broadcast-style equitable remuneration (ER) for streaming income An investigation by the UK’s competition watchdog the CMA into major labels’ market power and business practices Legislation giving artists a “right to recapture” their recordings rights after 20 years Calling for songs (and thus songwriters and publishers) to get a bigger share of streaming royalties Joe and Stu poured a very large mug of coffee, read the whole 120+page report, and then pull out the most important parts – and discuss what will happen next. Here’s the full written analysis of the report too: https://musically.com/2021/07/15/labels-under-fire-uk-streaming-inquiry-report/ -------- Ⓜ️ Subscribe to Music Ally's industry-standard analysis, reporting and news: musically.com/subscribe Muhammad Rashid (Pakistan) crushing 49 watermelons with his head in 1 min: https://www.facebook.com/GuinnessWorldRecords/videos/489784921508299/ Instagram: https://www.instagram.com/musicallybiz Twitter: https://twitter.com/musically Facebook: https://www.facebook.com/musicallyfb