music industry

The Competition and Markets Authority (CMA) said more than 80% of recorded music was now listened to via streaming, with more than 138 billion streams in the UK last year.

MPs had demanded a "complete reset" of the industry, amid "pitiful returns" for artists.

They had called for the CMA to look into the power of the major players.

Although the primary focus of the report was on consumers, the watchdog found a small number of high-profile artists enjoyed most of the financial success while the majority made no substantial earnings.

All three major record labels have shared a message on social media promising "a day to disconnect from work and reconnect with our community".

Employees have been given Tuesday off as "a day of action," intended to "provoke accountability and change".

Interscope vowed not to release new music this week, while Apple Music's Ebro Darden cancelled his radio shows.

Floyd, a 46-year-old African-American man, died last week after a white police officer knelt on his neck for several minutes.