Major record labels are responsible for 62.4 percent of all music sold, downloaded and streamed worldwide, according to new figures.
Data from independent label group WIN has found that Sony Music Entertainment, Warner Music Group and Universal Music Group still garner the lion share of the global music market, despite technical disruption and upheaval over the last two decades.
In the UK, the figure rises from two-thirds to over three-quarters, with 77 percent of all music sales and streams coming from major label artists.
Elsewhere, market concentration in Finland, Spain and Denmark are even more pronounced, with the three major labels accounting for greater than 80 percent of all sales.
It’s a different story in Japan and South Korea, where independent labels and companies enjoy far greater market share and control of both J-pop and K-pop markets.
In South Korea, the three major labels control just 12 percent of recorded music sales, streams, and downloads, according to the data. In Japan, that rises to 36 percent.
The data, calculated in May, demonstrate the staying power of the majors, despite a massive fall in recorded music sales.
Data from independent label group WIN has found that Sony Music Entertainment, Warner Music Group and Universal Music Group still garner the lion share of the global music market, despite technical disruption and upheaval over the last two decades.
In the UK, the figure rises from two-thirds to over three-quarters, with 77 percent of all music sales and streams coming from major label artists.
Elsewhere, market concentration in Finland, Spain and Denmark are even more pronounced, with the three major labels accounting for greater than 80 percent of all sales.
It’s a different story in Japan and South Korea, where independent labels and companies enjoy far greater market share and control of both J-pop and K-pop markets.
In South Korea, the three major labels control just 12 percent of recorded music sales, streams, and downloads, according to the data. In Japan, that rises to 36 percent.
The data, calculated in May, demonstrate the staying power of the majors, despite a massive fall in recorded music sales.
