Tech Crunch reports…
The UK’s antitrust watchdog will take a close look at the music streaming market.
Today the Competition and Markets Authority (CMA) announced that it will be conducting a market study of music streaming as soon as possible, as its latest piece of work aimed at expanding competition in digital markets.
It uses market studies to identify competition and consumers issues — and, if needed, to look at how best to tackle problems.
The development could have implications for how mobile app stores and music streaming giants like Apple Music and Spotify can operate in the U.K. in the future — if the CMA decides it needs to step in and impose corrective measures.
The exact scope of the study is yet to be determined but in a letter to MPs the regulator said it will prioritize the work — writing:
“On 13 October, the Board considered initial proposals to carry out a markets project on music streaming. They agreed that work in this area aligned with the CMA’s prioritisation principles, and that it supported a strategic goal of the CMA to foster effective competition in digital markets, ensuring they operate in a way that promotes innovation and the consumer interest. On this basis, the Board agreed that there was merit in taking forward a market study. They also agreed, in the light of the concerns you have collectively expressed, that this work should be prioritised: that is, it should be the next market study that the CMA launches. CMA staff will now prioritise more detailed further work to refine and scope this project. This will again be considered by the Board, with a view to formally commencing the market study as soon as practically possible.”
Read full article at. https://techcrunch.com/2021/10/19/cma-music-streaming-market-study/
