Independent Music Thrives: How to navigate a saturated market
Image credit: Alex Bracken
Independent artists have more clout than ever before thanks to digital music platforms, but there is also more competition than ever before.
The music industry is witnessing unprecedented growth. Thanks to the ubiquity of digital music platforms and empowering platforms like RouteNote, artists of all sizes have the same opportunity to reach global audiences and get themselves heard.
Platforms like Spotify, Apple Music, and YouTube Music have become crucial avenues for independent artists to reach global audiences. Services like RouteNote, which offer free music distribution and a generous revenue share, empower artists to retain control over their careers and directly connect with fans.
Thanks to modern digital services, independent artists are thriving more than ever before without the need for support from a major label. However, this abundance of music can also present challenges for artists to navigate.
Luminate’s 2024 Year-End Music Report revealed that 202 million tracks were available on music streaming services. That’s an impressive figure that is an incredible 18 million more tracks than were available at the end of 2023. That’s roughly a million tracks added a month!
This reveals the incredible possibility of worldwide release for artists all over the world. It also shows just how much competition there is for listener’s ears, particularly as Luminate reveal that 93.2 million tracks earned 10 or less streams in 2024.
How to navigate the saturated market as an independent artist
Let us not downplay the significance of the digital market: Independent artists make up nearly half of the global music industry in revenues, an astonishing figure in stark contrast to the strangehold the major labels held over the physical music industry just two decades ago.
Yet the fact that around 87% of the tracks available online received less than 1,000 plays show difficulties still facing artists. Particularly with changes to the streaming economy, like Spotify’s decision to pay artists only once their tracks have received 1,000 plays last year.
With the incredible opportunities of a streaming landscape available to artists at all stages of their career, let’s look at some of the steps you can take to re-inforce your presence and bolster your success as a digital artist.
- Build a Strong Online Presence: Cultivating a dedicated fanbase through social media, engaging with online communities, and utilizing targeted marketing campaigns are crucial for independent artists to gain visibility.
- Reach Music Fans with Video: Short-form video is a massive source of views and music discovery. With tracks going viral as the soundtrack to millions of videos across TikTok, YouTube Shorts, and Instagram Reels, add your music to these platforms to reach new fans in a unique way.
- Leverage Data and Analytics: Analyzing streaming data and audience engagement can provide valuable insights into listener preferences, allowing artists to refine their music and marketing strategies accordingly.
- Embracing Superfan Monetisation: Streaming platforms are a fantastic way to reach new listeners. Once they’re dedicated fans, alternative distribution channels such as Bandcamp and direct-to-fan sales, sales from unique artist merchandise, and performing concerts can provide big boosts to your income from the fans you’ve developed on digital platforms.
While a small percentage of artists achieve superstardom, the long tail of independent music continues to flourish. Platforms like Spotify are constantly refining their algorithms to surface hidden gems and connect listeners with the music that resonates with them.
The music industry is evolving rapidly and the future is bright for independent artists who are willing to adapt and embrace the challenges of a saturated market. Use the tools available to you and stay proactive to build a dedicated fanbase that you can reach in unique ways to grow your presence.