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Dominance of Universal, Sony and Warner as music buyers to be key focus of UK market study

By Victoria Ibitoye ( July 15, 2021, 12:20 GMT | Insight) -- The UK music industry needs investigation, lawmakers have said, voicing "deep concerns" about distortion of competition and the dominance of its three largest record labels. The clout of Universal, Sony and Warner concentrates demand in the hands of the buyers and drives prices down at the expense of sellers, Parliament’s Digital, Culture, Media and Sport Committee said today.The UK music industry needs investigation, lawmakers have said, voicing "deep concerns" about distortion of competition and the dominance of its three largest record labels....

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