Big buy review

Hire big buy review service by ifpi that shows the uk is number 1 with a £1.1 billion revenue. in 2013 hmrc's revenue was £4.5 billion. revenue generated through music sales represented around 12% in 2013. in the same year, £450 million came from record label royalty payments, while £600 million from streaming and digital sales. as previously mentioned, the new measures will only apply in instances where an individual acts as his or her own record company. the government says it is an extension in line with 'uk music industry development'. the uk is currently at the third level of the eu e-commerce directive and there are concerns that it could lead to music streaming being treated as a sales channel and potentially put the industry at a disadvantage with other types of advertising. hmrc hopes the new rule will 'enhance enforcement in such cases to improve overall quality standards and protect consumers.' the changes don't affect the labels as all royalties paid will be shared equally between the band, label and the artist. a music publisher will only receive 20% of the fee up to £450 in revenue received through sales of a song and £500 in revenue received through online streaming and downloads. a label will receive a 35% share of the revenue, and 15% for digital and digital-only sales (see chart below).

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