The UK’s music streaming market is facing increased scrutiny from the country’s competition watchdog three months after it first pledged to look into the industry.
The Competition and Markets Authority is beginning a study of how well the market works for audiences with a focus on "potential harm to consumers,” it said in a statement on Thursday.
"A vibrant and competitive music streaming market not only serves the interests of fans and creators but helps support a diverse and dynamic sector, which is of significant cultural and economic value to the UK” said CMA’s chief executive Andrea Coscelli.
More than 80% of music is now streamed in the UK and the CMA wants to verify whether further measures might be needed to bolster its competitiveness.
If the CMA finds problems, it said it will consider what "action may be necessary.” – Bloomberg