This seems to be the most obvious solution, and is what solved the movie industry's greed back in the the studio system days. But, the industry will fight it tooth and nail, because they lose control and potential margins on it at the expense of the consumer.

It's mostly working for music. Spotify and Apple aren't competing on their catalogs.

Spotify loses money (which is why they keep trying to do things that are not music to keep the company afloat), and while Apple doesn't split out Music it's fairly unlikely that is a profitable business either.

Music is literally a textbook example of why it doesn't work.

Spotify can just raise prices by 50% and make money? If they tell me the choice is between Spotify disappearing and me paying more, the choice is extremely easy.

If Spotify raises prices they have to pay the vast majority of that out to labels still, it's all percentage models.

And they likely lose subscribers to they literally get poorer.

Spotify knows it's only way out is exclusive content, hence the Rogan deal et al.

Image we actually had a law like that.

Then Spotify would have to charge whatever they need to charge to remain profitable without exclusive content. And the labels would have to charge Spotify whatever they need to charge for Spotify to exist, because otherwise they wouldn't have anywhere to sell their content.