U.K. ‘Love Affair’ With Music Streaming Faces Watchdog Scrutiny

(Bloomberg) --

The U.K.’s music streaming market is facing scrutiny from the country’s competition watchdog in a study that’ll better understand the industry to ensure it remains competitive. 

“The U.K. has a love affair with music and is home to many of the world’s most popular artists,”  Andrea Coscelli, the Competition and Markets Authority’s chief executive officer, said in a statement on Tuesday.  “We want to do everything we can to ensure that this sector is competitive, thriving and works in the interests of music lovers.”

More than 80% of music is now streamed in the U.K. and the CMA wants to verify whether further measures might be needed to bolster its competitiveness. The watchdog uses market studies as a preliminary step before beginning any investigation, though the first doesn’t necessarily lead to the second.  

©2021 Bloomberg L.P.