Industry Transparency Code on Music Streaming announced by government

Summary:

The UK government and music industry have announced a Code of Good Practice on Transparency in Music Streaming to improve the transparency around licensing and royalties related to music streaming. The code was developed by an expert group from the music industry, chaired and facilitated by the Intellectual Property Office (IPO), and has been agreed by 12 music industry bodies representing music creators, record labels, publishers, digital service providers, distributors, and collecting societies. The code aims to build creators' confidence that they are being paid correctly when their music is played via streaming services. The IPO will have oversight of the code and its implementation, with a first review of implementation in early 2025 and a formal evaluation of impact in 2026. The code is a significant step towards improving transparency and trust in the music streaming industry.