Major labels and Merlin made up 75% of all Spotify streams in 2022. This has steadily declined from 87% in 2017.

Spotify’s 20-F annual report filed with US regulator the SEC provides details about the business. Among them is the total share of Spotify streams attributed to the three major labels and indie licensing agency Merlin. For 2022, this figure was recorded at 75%. This has been steadily declining for the past few years:

  • 2017 – 87%
  • 2018 – 85%
  • 2019 – 82%
  • 2020 – 78%
  • 2021 – 77%
  • 2022 – 75%

This is great news for independent artists around the world, as Universal Music Group, Sony Music, Warner Music Group and Merlin lose their grip of the industry, in favour of indie labels and distributors.

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