Independent record labels made up 37.6 percent of the global recorded music market and contributed $5.6bn (£3.8bn) to the industry in 2015, new research has revealed.
The figures are part of the Worldwide Independent Network’s (WIN) WINTEL report, analysing the indie sectors economic and cultural global impact.
Authored by Mark Mulligan of MIDiA Research in conjunction with Dr. Chris Bilton from Warwick University’s Centre for Cultural Policy, the document showed that indie record labels average 19 years in operation and have built sustainable businesses in the digital era.
With an average roster of 40 artists each, the study claimed how these imprints provide a crucial platform for artists that do not fit the major label ‘mainstream model’ yet have built broad audiences beyond ‘DIY’ platforms, locally and internationally.
The report also found that in the majority of countries, indie labels have a significantly higher market share in streaming than they do in physical formats.
Alison Wenham, WIN’s chief executive officer (CEO), said: ‘This is an important report, giving us the first truly global overview of the economic and cultural value of independent music.
‘With a 37.6 percent market share based on rights ownership, and a contribution of $5.6bn it is clear that the independent music community is playing an increasingly important part within the global music industry.
‘Quite apart from the significance of the independent sector’s real market share, the vital contribution to the creation of local music in countries around the world assures that the cultural value and contribution of music is in very good hands with the independent sector.’
Visit winformusic.org to find out more.
The figures are part of the Worldwide Independent Network’s (WIN) WINTEL report, analysing the indie sectors economic and cultural global impact.
Authored by Mark Mulligan of MIDiA Research in conjunction with Dr. Chris Bilton from Warwick University’s Centre for Cultural Policy, the document showed that indie record labels average 19 years in operation and have built sustainable businesses in the digital era.
With an average roster of 40 artists each, the study claimed how these imprints provide a crucial platform for artists that do not fit the major label ‘mainstream model’ yet have built broad audiences beyond ‘DIY’ platforms, locally and internationally.
The report also found that in the majority of countries, indie labels have a significantly higher market share in streaming than they do in physical formats.
Alison Wenham, WIN’s chief executive officer (CEO), said: ‘This is an important report, giving us the first truly global overview of the economic and cultural value of independent music.
‘With a 37.6 percent market share based on rights ownership, and a contribution of $5.6bn it is clear that the independent music community is playing an increasingly important part within the global music industry.
‘Quite apart from the significance of the independent sector’s real market share, the vital contribution to the creation of local music in countries around the world assures that the cultural value and contribution of music is in very good hands with the independent sector.’
Visit winformusic.org to find out more.
