Spotify starts divesting from France in response to new music-streaming tax

This is the best summary I could come up with:

Spotify is pulling support for two music festivals in protest against a controversial new tax directed at music-streaming platforms operating in France, and threatened more action will follow in the coming months.

Antoine Monin, managing director for Spotify in the France and Benelux regions, took to X this week to decry a new tax that will impose a levy of what is expected to be between 1.5 and 1.75% on all music-streaming services, with the proceeds going toward the Centre National de la Musique (CNM), which was established in 2020 to support the French music sector.

While all the major music-streaming platforms have come together in opposition to the new law, including Apple, Google’s YouTube and local player Deezer, Spotify has been the most vocal.

It’s worth noting that Spotify was recently embroiled in a tête-à-tête with the Uruguayan government over a new law that promises “fair and equitable” remuneration for all artists involved in a recording.

Spotify argued the law would mean it would have to pay rightsholders twice for the same tracks, and it would thus cease operating in the country.

The company later pulled a 180-degree turn when the government gave assurances that music-streaming platforms wouldn’t be expected to cover any extra costs resulting from the law.

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Most of these laws end up moving more money in taxes but not more money for anybody other than government burócrata.