The European commission has today started its formal investigation into UMG’s acquisition of Downtown, with a provisional deadline of 22nd July to reach an initial conclusion.
Former Chief Economist of the UK competition authority, as well as musician and independent music label co-founder, Professor Amelia Fletcher of the University of East Anglia, has sent a letter to the Vice President of the European Commission Teresa Ribera urging her to conduct an in-depth investigation into the proposed acquisition.
A new report “Combating the Emergence of a Two-Tier Music Streaming Market” has been published today. Analysing recent evolutions in the music streaming market, the report warns that a two-tier industry is emerging which requires “immediate attention”.
With this year’s EU Green Week focus on “Circular Solutions for a Competitive EU,” IMPALA – the European association of independent music companies – is calling on policymakers to ensure small and medium-sized enterprises (SMEs) in the cultural and creative sectors have equitable access to clean energy and climate transition tools.
IMPALA is the European organisation for independent music companies and national associations. The sector is made up of micro, small, medium businesses and self-releasing artists. They are world leaders in terms of innovation and discovering new music and artists. Independents account for more than 80% of all new releases in Europe and 80% of the sector’s jobs. More info…
