A report from MPs has called for a "complete reset" of the music streaming landscape.
The Digital, Culture, Media and Sport (DCMS) committee have sat for almost six months, hearing testimony from artists, industry leaders, and tech experts.
Compiling a report, their findings were released a few moments ago – July 15th – and it provides a damning insight into the uneven landscape facing musicians.
MPs call for a "complete reset" of the market, and demand musicians and songwriters gain a "fair share" from streaming income.
Currently, £736.5 million goes towards UK record labels from streaming; MPs want royalties to be split 50/50, instead of the current rate of around 16%.
Julian Knight, MP, who chairs parliament's Digital, Culture, Media and Sport (DCMS) committee, commented: "While streaming has brought significant profits to the recorded music industry, the talent behind it – performers, songwriters and composers – are losing out. Only a complete reset of streaming that enshrines in law their rights to a fair share of the earnings will do."
The #BrokenRecord campaign has done much to highlight the extreme inequalities of the streaming marketplace, with founder and spokesperson Tom Gray commenting: "It feels like a massive vindication. They've really come to the same conclusions that we've been saying for a very long time."
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