The Competition and Markets Authority or CMA is searching to study streaming’s affect on the music industry in the United Kingdom.
Long gone are the days of using sites like Napster or LimeWire to gather a collection of songs. Or using more traditional routes such as iTunes or even ripping songs from CD’s. Nowadays more people are likely to get there music from giant online music streaming platforms like Spotify or Apple Music.
In the United Kingdom the music streaming industry represents £1.36bn of the £1.7bn brought in by the music industry as a whole. This being such an overwhelmingly large portion of the overall music industry for the conglomerate of nations has lead to questions revolving around this shift in music consumption and how it is affecting the consumers as well as the artists.
The CMA aims to create a study that tackles this affect. More specifically how artists feel about the amount of compensation for their work, how a potential monopoly in this industry could lead to or has already lead to a lack of competition among businesses, as well as how the consumer is reacting to the different platforms available.
One of the largest contributing factors for this kind of study in the UK is the presence of music recording label titans that include, Universal Music, Sony Music, and Warner Music. These three companies account for around three-quarters of all the music recording for the group of nations. A narrow spread of companies like this can contribute to a lack of corporate competition. I’d like to ask the readers what they think about this topic! What do you think the CMA will find about music streaming?
Applied Global Marketing 
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