UK ‘Love Affair’ With Music Streaming Delivers for Britons: CMA

The music streaming market dominated by a handful of major players is giving consumers a fair shake, the UK’s antitrust watchdog said in a much anticipated report, as it pulled back from a deeper investigation into the likes of Spotify Technology SA and Apple Inc.

“The concentrated” nature of the market dominated by just a handful of players is not “currently causing consumers harm,” and “labels nor streaming services appear to be making sustained excess profits,” the Competition and Markets Authority said in a statement on Tuesday.