A bill designed to ensure artists are remunerated correctly for their music on streaming services has failed to pass the commons.
Named after Labour politician proposing the bill, Kevin Brennan MP, the ‘Brennan Bill’ was rejected in Parliament therefore it cannot continue to any further stages.
The new notion of introducing "equitable remuneration" had support from popular artists including Paul McCartney, Chris Martin and Stevie Nicks.
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Brennan also referenced the ongoing legal battle between Four Tet and Domino records during his speech.
The idea for the bill came about after the Economics Of Music Streaming report was published by the Digital, Culture, Media and Sport select committee.
The British Phonographic Industry (BPI) who represent a large portion of the industry - including major labels - argued that the new bill would “dramatically shrink the total pool of royalties available to labels and artists”.
CEO of BPI and BRIT Awards Geoff Taylor said today, “As many contributions to the debate in Parliament made clear, Mr Brennan’s Bill, though well-intentioned, is not the right way forward for British music.
“The UK’s record labels – including hundreds of independents around the country – are committed to supporting their artists’ creative vision and building their global audience, so that many more reap the benefits of streaming success. The Bill’s proposals would undermine the essential investment that labels provide, harming new talent and future artists and the long term competitiveness of British music.
“We have listened to the arguments made across the debate and will engage positively and proactively with the process Government has put in place to look for joint solutions to ensure the streaming market continues to grow and sustain the careers of many more artists.”
You can watch Brennan’s reading from today below.
Becky Buckle is Mixmag's Digital Intern, follow her on Twitter