The super-team we’ve all been waiting for has finally formed. Spotify, Deezer, and SoundCloud have recently announced that they have integrated to form a new European lobbying organization called Digital Music Europe (DME).
This collaboration comes at a pivotal time for Europe; recently, the European Commission has been exploring ideas relating to modernizing copyright legislation to create a Digital Single Market, which will enable Europeans to access the same streaming content online all throughout the continent. What’s more, the EC has revised copyright framework that will require services like YouTube to pay more to rights holders in an effort to reduce illegal distribution of music and video content online.
With licensing and policies on streaming becoming increasingly confusing and costly each year, this is one of the first big steps the music industry has taken to transform the legalities that correspond with transforming trends since 2001.
So, what does this collaboration mean for artists? DME states that its effort is to “bring benefits to both artists and consumers,” but they haven’t specifically disclosed how they are going to do that. Up until now, the fear for many musicians is that publishing their work on streaming services will drastically reduce profits, but perhaps this team will create a brighter future for the music industry as a whole.