“Independent Music Market Share Soars to 46.7%: Nearly Half the Industry Now Owned by Indie Labels”

A new MIDiA report has revealed that independent music is capturing an impressive 46.7% of the global market share, nearing the 50% mark when measured by ownership—a milestone that underscores the growing power of indie labels. This detailed study, titled “State of the Independent Music Economy: Fragmentation AND Consolidation,” is the most comprehensive MIDiA has ever conducted, combining revenue data from indie labels, distributors, major labels, and artist distribution platforms to account for 93% of all global music revenues.

The report highlights that non-major labels are largely streaming-first, with Spotify driving the bulk of their revenue. Despite this, independent labels report challenges in cutting through the crowded streaming landscape: 87% say it’s increasingly difficult to make artists stand out, and 78% struggle to retain fan interest. In response, independent labels spent $1.5 billion on marketing in 2023, with smaller labels—those earning less than $1 million—leading the way in promotional investments.

This latest data signals a pivotal moment for independent music, proving that the industry’s influence and reach are rapidly expanding.

#IndieMusic #IndependentLabels #MusicIndustry