HomeTechnologyThe “streaming tax” raises less than expected after a “slow” start

The “streaming tax” raises less than expected after a “slow” start

Aimed at financing new projects, the “transmission tax” should not be as high as expected in 2024.

The streaming tax, in force since January, but which divides the music industry, should contribute 9.3 million euros in 2024, 38% less than expected, the president of the National Music Center (CNM) stated on Wednesday. ).

To date, “the CNM has raised 7.1 million euros and, without hesitation, we will be at 9.3 million euros at the end of the year because there are monthly payments that are already almost stable,” declared the president of the public body. Jean-Philippe Thiellay, before the Senate culture commission.

6 million euros less than expected

“It is much lower than what we budgeted”, 15 million euros announced at the end of 2023, he admitted.

“This is explained, first of all, because the start was slow, among other things because the fiscal minimum is 20 million euros of turnover, which means that for several months these companies do not reach that minimum,” he stated.

This 1.2% tax contribution on the turnover generated in France by certain subscription-based online listening platforms and free content-sharing platforms was introduced on January 1 after bitter debates and opposition from key stakeholders to these additional costs.

However, he asked that “the tax services do their job”, considering that certain companies hide behind the lack of publication of the measure in the Official Gazette.

These sums, collected directly by Bercy and then returned to the CNM, “have already made it possible to finance actions that would not have been financed without the streaming tax,” Thiellay also stressed before the senators, recalling that this tax was not assigned to the “operation ” of the establishment.

Among the projects and artists supported are the jazz drummer Anne Pacéo, clips of the singers Julien Doré or Barbara Pravi and support for the export of popular French-speaking artists abroad such as Indila, Pomme and Zaho de Sagazan.

In response to this new tax, Spotify announced a series of divestments in France and also increased its prices to pass it on to its subscribers.

Author: ST with AFP
Source: BFM TV

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