I can see clearly now

There might by a bright light at the end of the hazy streaming tunnel. All due to the new ‘Voluntary Code of Good Practice on Transparency in Music Streaming’, launched at the end of July 2024 in the UK. The code was created as a result of the Culture, Media and Sport Committee’s inquiry into the economics of music streaming which was launched in 2020 and called for a ‘complete reset’ to fairly reward songwriters, composers and artists. The code was signed by several trade organisations and collecting societies which indicates a solid support from at least a big part of the music industry. The question now is of course; on what principles is this code based and what exactly will it solve in regard to transparency issues? Is this code a big step towards greater fairness and transparency and will this code be adopted by organisations outside the UK? And who will monitor the effectiveness of the code and supervise if all parties in the value chain follow up on the described agreements?