Revenue generated by independent artists is the fastest growing segment of the music industry, reversing the paradigm of major label dominance.
MIDiA and music label/distributor Amuse released a report on the growth of independent artists, finding that the independent sector generated $643.1 million in 2018.
This represents a whopping 35% increase from 2017.
These new numbers highlight the true scale, influence and impact of independent artists, who also receive more native streams than label-signed artists.
The survey aimed to answer questions about the independent sector, including what it means to be an artist in these streaming boom years; how they make money, what career paths they take and what their aspirations are.
It also found that more artists now see labels as a possible means to an end, and less than a third of artists think it’s important to be signed to a label.
Nearly ¾ of independent artists make less than $10,000 each year from their music, proof that income is still a big hurdle.
Nearly ⅔ of artists surveyed felt they needed to continue working alongside music to make ends meet.
Despite this, more artists feel empowered about their careers than ever before, and nearly ⅔ have a positive outlook on their careers.
The full report is available here.