EU To Fix The Music Value Gap?

Over 1,000 artists have written to EU President Juncker asking him to close what is known as the “value gap”. Artists across the world are increasingly vocal about YouTube and other platforms “siphoning value”. The European independent label body IMPALA commented: “The voice of artists in Europe is key and it’s great that more and more are speaking out. We look to Europe to take the lead. The value gap is costing millions and it is essential to address it to ensure proper value along the chain”, said Helen Smith, Executive Chair.
IMPALA underlines that the most efficient way to address the value gap is through a legislative solution clarifying the current copyright regime.

As with the WIN Declaration two years ago, the independent sector has committed to sharing that value with artists and is currently looking at options to broaden the scope of the WIN Declaration commitments, including in terms of transparency and alignment of interests which artists have also flagged as key issues.

IMPALA also emphasises the importance of platforms “playing fair as well as paying fair”. With the independents accounting for over 80% of all new releases in Europe today, it is essential that the EU makes sure platforms can’t discriminate. “All artists are born equal and we look to the EU to make sure that means something in a world where dominance takes on a totally new dimension” added Helen Smith.

Source: IMPALA