UK Regulator to Launch Probe into Music-Streaming Market
By Joe Hoppe
A U.K. regulator has said it intends to launch a probe into the
music streaming market, the latest step in its push to increase
competition in digital markets.
The Competition Markets Authority said Tuesday that it will
carry out work to consider and develop the final scope of a market
study, a key tool it uses to identify--and if appropriate, consider
how to address--any competition and consumer issues. It will
formally launch the study as soon as possible.
The regulator said that the music industry has greatly changed
in the last decade, with streaming now accounting for around 81% of
all music listened to in the country. A market study would assess
whether competition is working well in the sector, the CMA
The CMA has a number of other investigations into digital giants
underway, including probing Alphabet Inc.-owned Google's "privacy
sandbox,", Facebook Inc.'s use of data and Apple Inc.'s
Write to Joe Hoppe at firstname.lastname@example.org
(END) Dow Jones Newswires
October 19, 2021 03:34 ET (07:34 GMT)
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