CMA to assess music streaming market

The Competition and Markets Authority (CMA) is launching a study into the UK’s music streaming market.

The watchdog will probe the dominance of major record labels and music streaming platforms including Spotify to assess whether artists are getting a fair deal.

Streaming now accounts for more than four-fifths of UK music consumption, according to the BPI.

CMA's annoucement follows its ongoing investigation into Sony Music’s recent merger, which raised concerns of a “a substantial lessening of competition”, and a DCMS Committee inquiry into streaming's effect on artists.

The decision was welcomed by Committee Chair Julian Knight, who has previously supported calls for an official investigation.

“Our investigation exposed fundamental problems within the structure of the music industry itself. This action marks a key step forward.”