The House of Commons Digital, Culture, Media and Sport Committee released a new report on the economics of music streaming in which members of parliament concluded artists need a legal right to a fairer share of streaming revenues and called for a "complete reset."
The DCMS committee, which includes MPs from the Conservative, Labor and Scottish National Parties, first began its investigation in October 2020 and delivered a report that extends beyond streaming, calling out the industry at large.
The report identifies gross imbalances in the streaming marketplace, affecting even the biggest artists in the industry. "Successful artists see ‘pitiful returns’ from streaming while some performers are frozen out of payments altogether." These problems were naturally exacerbated and exposed during the pandemic when touring came to a halt. The imbalances, the report argues, extend to fundamental problems in the recorded music industry.
