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U.K. Government Announces £30m Investment Package to Drive Music Industry Growth
The U.K. government has announced a new investment package up to £30 million to help drive growth in the local music industry.
Amidst concerns about artificial intelligence from rightsholders — including Sir Elton John — the government says it will commit to “ensure a robust copyright regime and support British IP,” with the establishment of the Creative Content Exchange. The government describes it as “a trusted marketplace for selling, buying, licensing and enabling permitted access to digitized cultural and creative assets,” which will open up new revenue streams for content owners. Additionally the plan announces that the government will broker “an industry-led agreement on music streaming, including helping legacy artists to renegotiate their contracts and increasing remuneration for session musicians.”
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