The Musicians' Union, The Ivors Academy and #BrokenRecord Campaign welcome "revolutionary" Digital, Culture, Media and Sport Select Committee Economics of music streaming report

15 July 2021 - Press release

This follows their joint campaign to fix streaming which has to-date received support from over 234 big name artists, musicians and songwriters and over 17,000 supporters.

The cross-party Select Committee of MPs has called for a "complete reset" of music streaming so that artists, performers and songwriters, who currently receive "pitiful returns", are fairly rewarded.  In particular the Report takes up the 234 artists' recommendations for: 

• Government to legislate so that performers enjoy the right to equitable remuneration for streaming income; and
• Government to refer case to the Competition and Markets Authority to undertake full market study into the economic impact of the major music groups' dominance.

 

The Report warns of "deep concerns" about the unassailable position of the major music companies with a call for the Competition and Markets Authority to examine whether competition in the recorded music market is being distorted.

It also finds that comprehensive reform of legislation and further regulation is needed, not only to redress the balance for songwriters, performers and composers, but to tackle fundamental problems within the recorded music industry.

Following the release of the report, The Musicians' Union, The Ivors Academy and the #BrokenRecord Campaign have called for swift and robust action from the Government to implement the Committee's recommendations, and to support Kevin Brennan MP's Copyright Bill will receive its second reading on 3 December, and which seeks to implement a package of copyright reforms to help put the value of music back in the hands of UK music makers.

Horace Trubridge, General Secretary of the Musicians' Union, said:
"As we all emerge from the horrors of the pandemic, the Government's levelling up agenda is more important than ever.  Our industry has been on its knees and if we want to preserve our cultural heritage, bring opportunity to all four corners of the UK and keep musical talent in Britain, we've got to fix streaming and stop exporting millions of pounds to huge record labels and their owners overseas.

"This cross-party report is revolutionary. It grasps the issue, identifies the problems and recommends achievable and practical solutions, which won't cost the taxpayer a penny.

"It's time to make the most of this rare, cross-party consensus, bring British copyright law up to date, show Global Britain leading the fight to protect the intellectual property of artists and creators, and make the UK the best place to be a musician."

Tom Gray, Founder of the #BrokenRecord Campaign, said:
"The report brilliant and coherently cuts to the chase: the music industry has a serious problem. Profits are soaring, margins are better than ever, the value of the once piracy-blighted industry is forecast to eclipse anything seen in our lifetimes within a decade, but performers and songwriters are being left well behind."

"As we've repeated, rather like a broken record, it's a failing market where corporations have little incentive to share their extraordinary profits with the architects of their success, musicians."

"This goes to show that when artists come together and speak honestly about our experiences and those of our peers, our politicians can easily surmise the reality – the public too. This is not about getting more money for wealthy musicians, that mythology ought to be long dead. This is about preserving a national treasure into the future: our extraordinary, diverse British musical talent."

Crispin Hunt, Chair of The Ivors Academy, said:
"Today is a great day for musicians and music creators. This cross-party report gives the Government the firepower and political mandate it needs to secure the commercial, professional and artistic futures of many thousands of British music creators, and to keep their value here in Britain.

"For too long, foreign owned major record labels have recklessly gambled with the UK music economy and the future of British music. The true innovators and creators are our musicians and composers, and by acting on the Committee's thoughtful recommendations, the Government will do so much good for so many - musicians and listeners alike."