The music industry has managed to turn into what is a rapidly growing, mostly digital industry. Record companies, in order to be the driving force behind this new digital age of music, have bent over backwards just to adapt, keep pace, innovate and invest in it. It is fundamental, however, that a fair digital marketplace exists where everyone plays by the same rules for this positive development to be sustainable.
As stated in the IFPI Global Music Report 2018:
“The digital content market continues to be tripped up in its sustainable and balanced growth by an intrinsic flaw in legislation, at the base of the market, which is what is behind the ‘value gap’ that is causing disproportion between the value that online user upload services, such as YouTube, extract from music, and what the music community receives back in revenue.
It is currently the biggest policy challenge facing the music industry. For music to thrive in a digital world, those that are creating and investing in music must be able to negotiate fair commercial terms for its use. Furthermore, digital music services that are licensing music on freely negotiated terms, must be allowed to compete on a level playing field – something they currently do not have.
The global music community is united in its call to fix the value gap and is campaigning around the world for a legislative solution.”