2023-05-17 11:00:00
At the start, we were very happy that there was a mission from Senator Bargeton to draw up the inventory of musical creation in France. On the other hand, what came out of it, in particular the establishment of a tax on streaming platforms, we believe is absolutely not the right solution.
As a reminder, streaming platforms are driving the growth of the music industry right now, and will be even more so in the years to come. Consequently, imposing an additional tax on them would be more of a brake than an accelerator to their development. In addition, we already donate almost 70% of the subscription fee to rights holders and the music industry. So adding a tax on top does not seem relevant to us since we are already the main contributors to income and funding for music in general, including musical creation in France.
Finally, this puts additional pressure on players like us, who are still fragile because they have been developed for fifteen years. They have invested heavily from a technological standpoint to innovate and need to continue to develop new creative and monetization features and opportunities for artists and the rest of the industry.
If we don’t innovate to create these features that will allow artists to earn more money, it is clearly not going to allow the industry to grow further. And then, ourselves, as a company, we still lose money. We continue to invest a lot from a marketing point of view to develop streaming.
In this context, adding a tax will not allow us to be more solid. This is absolutely not the right solution. We were extremely disappointed with the conclusions of the Bargeton report. If such a measure came into force, this would surely result in an additional cost for the consumer. In view of our economic situation, it is not we who can absorb it. We will observe what will happen.
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