1、 Music and streaming Final report 29 November 2022 Crown copyright 2022 You may reuse this information(not including logos)free of charge in any format or medium,under the terms of the Open Government Licence.To view this licence,visit www.nationalarchives.gov.uk/doc/open-government-licence/or write

2、 to the Information Policy Team,The National Archives,Kew,London TW9 4DU,or email:psinationalarchives.gsi.gov.uk.The Competition and Markets Authority has excluded from this published version of the market study report information which it considers should be excluded having regard to the three cons

3、iderations set out in section 244 of the Enterprise Act 2002(specified information:considerations relevant to disclosure).The omissions are indicated by.Some numbers have been replaced by a range.These are shown in square brackets.Non-sensitive wording is also indicated in square brackets.4 Contents

4、 1.Introduction.6 Context.7 Statement of Scope,Update Paper and our consultations.8 Background.11 The impact of digitisation and streaming.11 The market today.15 2.Value Chain.22 Overview.22 Music rights.24 Music companies.26 The majors.26 Recorded music.29 Music publishing.37 Creators.41 Artists.41

5、 Songwriters.52 Music streaming services and UUC platforms.53 Music streaming services.53 UUC platforms.58 The music consumer.60 How different parts of the value chain interact.63 3.Agreements between record companies and streaming services.66 Rights,payment terms and other common clauses.66 Functio

6、nality clauses.67 Most Favoured Nation clauses(MFNs)on prices(Price MFNs).68 Other MFNs,non-discrimination clauses,and playlisting clauses.69 Must carry clauses.70 Change of business model.70 Confidentiality/NDAs.71 4.Analysis on how well competition is working for consumers.73 The supply of recorde