Members of the UK Parliament are calling for a complete streaming reset to assure artists are paid fairly.
Royalties should be split 50/50, instead of the current rate, where artists receive about 16% according to the report.
“While streaming has brought significant profits to the recorded music industry, the talent behind it – performers, songwriters and composers – are losing out,” said Julian Knight, MP.
“Only a complete reset of streaming that enshrines in law their rights to a fair share of the earnings will do.”
Streaming companies really don’t care who gets paid as long as they get their 30%. They pay out 70% to labels, publishers and artists.
The MP’s are calling for an equal split between labels and artists.
The committee also noted that streaming inequity bolsters the already successful artist and creates barriers to entry for a new artist……33% of the music streamed in the US this year were new songs.