Music stakeholders in France support the proposed tax which is meant to fund investment in the industry.
ADVERTISEMENTFrance will introduce a new tax on music streaming platforms in 2024. President Emmanuel Macron announced on Wednesday that the country will tax companies like Spotify “based on a very low rate of levy on the turnover of the streaming platforms.”
Exact details on the proposed tax have not yet been revealed, nor the expected impact on the sector, but the tax is the latest chapter of a longstanding concern in France.
The Centre National de la Musique (CNM) was created in 2020 to support stakeholders across the French music industry. They have campaigned for a tax on the streaming platforms saying that it was “the only device which allows us to provide the CNM with sustainable and balanced financing,” general director Malika Séguineau told AFP.
The proposed streaming tax was first approved by a vote in the Senate this November ahead of the 2024 budget. First suggested earlier this year, the proposed tax has been suggested at between 1.75% and 1.5%.
Representatives of the streaming platforms have not embraced the tax. Apple, Deezer, Meta, Spotify, YouTube and TikTok released a joint press statement against the 2024 law. Together, the platforms claim they have reached an agreement to raise over €14 million in 2025.
“We take note of the government's decision, which does not take into account the efforts made by many platforms including Spotify,” a Spotify spokesperson told AFP. “This is a real blow to innovation, and to the growth prospects of recorded music in France. We are evaluating the follow-up to be given to the implementation of this inequitable, unjust and disproportionate measure.”
