CMA clears Sony/AWAL: comment from AIM CEO Paul Pacifico
11 February 2022 - Press releasePaul Pacifico, CEO of the UK's Association of Independent Music (AIM), has made the following comment:
"Whilst the CMA has ruled that AWAL's acquisition is not enough to substantially reduce competition by itself, it is part of a pattern that threatens to gradually erode competition and diversity in UK music if independent entrepreneurs continue without much-needed access to capital.
"Sony arguing that even a hugely successful independent like AWAL would have struggled to maintain its position alone highlights the sector's need for better support to scale-up. Without pathways for growth for independent entrepreneurs, we can expect to see a gradual erosion of competition across the sector, damaging innovation, diversity and leading to less favourable conditions for artists."
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