Ministers have referred the case of the market dominance of major record labels to the Competition and Markets Authority. Major record labels Sony Music, Warner Music and Universal Music appeared before MPs during the sessions, while tech giants Spotify, Amazon, Apple and YouTube also gave evidence. Julian Knight MP, chair of the DCMS committee, said: “Our inquiry into music streaming exposed fundamental problems within the structure of the music industry itself. “Crucially, ministers have accepted a key recommendation to refer the dominance of the major music groups to the Competition and Markets Authority. The spokesperson added: “Competition in the UK music industry is fierce.

Source: Irish Independent September 21, 2021 22:52 UTC