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Streaming Investigation: Current Music Royalty Model Must Be ‘Completely Reset’, Report Concludes | Ents & Arts News

Musicians and songwriters are getting “pitiful returns” from streaming and the entire model needs a “full reset,” a survey found.

Following several auditions involving stars including Chic’s Nil Rodgers, Guy Garvey from Elbow, RadioheadEd O’Brien and lead singer Nadine Shah, along with the bosses of major record companies and streaming platforms, the Digital, Culture, Media and Sports Committee has found that artists are not being fairly rewarded for their work.

Artists like Noel Gallagher, Robert Plant, Rebecca Ferguson and Lily Allen are among a host of stars who called on Boris Johnson to update the law on streaming rights, while Gary Numan told Sky News he only received £ 37 for a hit that had aired over a million times.

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Gary Numan: “It’s not even worth printing the statement”

The DCMS committee report, released Thursday and based on more than 300 pieces of evidence, raises “deep concerns” about the position of major music companies in the market.

Members of the committee are now asking the government to seize the Competition and Markets Authority (CMA) to launch a study on “the economic impact of the domination of the majors”. They also say that a fair remuneration system for streaming revenue – where performers are entitled to receive a share without reference to their label contracts – should be introduced.

According to the Broken Record campaign, artists receive around 16% of total stream revenue – while record companies take around 41% and streaming services around 29% – figures the Musicians Union and the organization independent commercial Ivors Academy have described it as “woefully inadequate”.

Recommendations from the investigation include:

  • The implementation of measures allowing music creators …

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Source: news.sky.com
This notice was published: 2021-07-14 15:23:00

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