The first figures for the streaming tax intended to support French musical creation have been released and are below forecasts. However, the National Music Center, its main beneficiary, wants to be reassuring.
Launched in 2024 by the government, the “streaming tax” has caused a lot of talk. Created with the aim of supporting French musical creation, platforms like Spotify mainly saw a shortfall in revenue, and passed on the tax on the price of its subscriptions, to the detriment of users.
Money, Money, Money
While the government estimated that it would bring in 15 million euros for the year 2024, the first figures are more around 9.3 million euros for the year, or 38% less than what was planned, reports BFM.
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Since 2024, music streaming platforms have been required to contribute around 1.2% of their turnover generated in France. The president of the National Music Center (CNM), Jean-Philippe Thiellay, the main beneficiary of this tax, justifies this discrepancy by explaining that “the start was slow, also because there is the tax floor of 20 million euros of turnover which means that for several months these companies do not reach this floor”.
Thiellay also explains that some companies would be playing for time in the absence of publication of the measure in the Official Bulletin.
Promoting culture
The president of the CNM took advantage of this first assessment to remind the Senate culture committee that this tax is not there to support the functioning of the CNM but to promote French musical creation.
He is also optimistic for 2025, indicating that the objective of 15 million euros will be reached once “cruising speed” is reached.
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