The world’s three major record companies have licensed new streaming platform CürMusic in the US this week.
Joining forces with Universal, Sony and Warner, the service which is yet-to-launch in the UK now has access to over 10 million tracks, with all three majors taking equity stakes.
Annabella Coldrick, Chief Executive of the MMF commented: “This week’s news that new US streaming service CürMusic has done deals with the majors to licence the platform is good news for artists and managers. We want our content to be legally available for streaming to our fans both through premium and freemium channels.
“However, yet again the majors are doing secret deals, taking equity stakes and making it impossible for our artists to know if they are getting a fair share of revenues.
“We are calling on the majors to take seriously the issue of transparency in streaming and to sign a code of conduct to commit to fundamental principles.”
See our report Dissecting the Digital Dollar (themmf.net/digitaldollar) for a great analysis of music streaming.