We are ‘disappointed’ as the approval of Sony’s acquisition of EMI Music Publishing sets to create a ‘major super power’. The creation of a behemoth entity threatens the ideal of a balanced, diverse and competitive marketplace
BASCA has cited its disappointment following the decision of The European Commission to approve Sony’s acquisition of EMI Music Publishing, thus creating a ‘major super power’.
This follows BASCA’s independent activity, including campaigning to the Commission and statement of September 28th 2018, outlining its opposition of the potential deal.
Sony is currently the world’s biggest music publisher and second biggest music label. BASCA opposed the now-approved Sony EMI deal in favour of EMI being run as a standalone business, or else combined with smaller music companies, with the ideal of fostering a fair and competitive market for European talent.
BASCA opposed the Sony acquisition of EMI and the creation of a ‘major super power’ to mitigate concerns including: possible dominance in the licensing market, dominant influence on CMO’s, possible further reduction of the share of online royalties payable to creators, the undermining of the future autonomy of Creators’ Rights and the reduction of choice and service for creators.
Commenting on the decision BASCA Chair, Crispin Hunt said: “It is disappointing that this decision will create a behemoth that could hinder balance, diversity and competition for music.
“Sony is a great music company but it is through competition as opposed to oligopoly, we all move towards market success and the innovative future music deserves – online and off – for indies, the self-releasing sector and majors.”