The Australian record label behind Kylie Minogue, Jimmy Barnes and Vance Joy says it is reducing spending and signing fewer new Aussie artists each year as streaming and TikTok make it harder for bands to make it big.

This is among the reasons Chris Maund, chief operating officer of Mushroom Group, cites in the campaign to remove a cap on how much radio stations pay labels to play Australian music. The current cap is 1 per cent of revenue, which was set into law in the late 1960s.