France, the sixth largest recorded music market in the world, is proposing to tax the best music streaming services in order to fund the development of new artists – and the streamers aren't happy. The tax rate is 1.2% on the French turnover of large streaming firms such as Spotify, Deezer, Apple Music and YouTube Music.
Spotify for one isn't happy. Along with Apple, Deezer, Meta, YouTube and TikTok it has strongly criticized the plans. Speaking to French news channel France Info, as reported by Music Business Worldwide, Spotify France's director general said the tax would be a "monumental strategic error, which goes against the issues of economic, cultural and European technology” and suggested that Spotify might have to raise its prices in France by 10%. Otherwise, "how do you expect us to be able to operate in a market like France?"
