Image credit: Eric Krull
Independent record labels saw a market share of 26% during 2020 according to the BPI and Aim.
British label bodies the BPI (British Phonographic Industry) and Aim have recently reported that market share taken by independent labels saw a huge increase during 2020. Independent labels share grew to just under 26% last year as measured by ‘album equivalent sales’, a metric that blends streams and digital/physical sales.
The announcement also states that independents’ share of ‘streaming equivalent albums’ has grown in the past five years also.
Breaking the stats down into format, independents accounted for 35% of vinyl sales in the UK in 2020, nearly 30% of CD sales, and 24.5% of streaming consumption. All three percentages rising in the first quarter of 2021.
The news is fantastic for the grassroots level of the industry that even against all the odds is gaining ground and in some respects thriving. Although major labels dominate the industry, there is more space for independents to grow. Also, distributing has never been easier and with services such as ours at RouteNote, you can do so for free!