While music streaming accounted for more than £1 billion in revenue last year — with 114 billion music streams — artists can be paid as little as 13% of the income generated by streams, Parliament says.
The probe will look at how the streaming music industry could be limiting the range of artists and music that consumers can experience. Knight says that algorithms used by streaming services to recommend music to users may maximize income for the platforms but “are a blunt tool to operate in a creative industry with emerging talent risking failing the first hurdle.”The U.K. is the third-largest music market in the world, and is the second-biggest in streaming, with $802.
As part of the same inquiry, the committee says it will also look at whether the government should take action to protect the music industry from piracy in the wake of steps taken by the EU on copyright and intellectual property rights.