{"id":101806,"date":"2024-11-06T11:22:36","date_gmt":"2024-11-06T11:22:36","guid":{"rendered":"https:\/\/routenote.com\/blog\/?p=101806"},"modified":"2024-11-06T11:25:05","modified_gmt":"2024-11-06T11:25:05","slug":"independent-music-hits-record-46-7-ownership","status":"publish","type":"post","link":"https:\/\/routenote.com\/blog\/independent-music-hits-record-46-7-ownership\/","title":{"rendered":"Independent music hits record 46.7% ownership"},"content":{"rendered":"\n

Image credit: Dan Senior<\/a><\/em><\/p>\n\n\n\n

MIDiA state “there has never been such comprehensive research done” which reveals that independent labels and artists now make up nearly half the music market.<\/span><\/h2> \n\n\n\n

Independent music is thriving in the digital age. Thanks to the democratisation of music streaming platforms like Spotify<\/a> and distribution services like RouteNote<\/a>. Now, independent music is very close to reaching a 50% market ownership share worldwide.<\/p>\n\n\n\n

That’s according to MIDiA’s new ‘State of the independent music economy<\/a>‘ report. In their report they have collected company level revenue data of independent labels and distributors adding up to $10.6 billion. Combined with major label financials and data from artist distribution platforms they covered 93% of the market. They say: “We are confident there has never been such comprehensive research done of the sector, until now!”<\/p>\n\n\n\n

Their data reveals that independent music takes an impressive 46.7% ownership of the market. With $14.3 billion in revenues in 2023, they made up 34.2% on a distribution basis. MIDiA found that non-major shares were particularly high in regions like Asia Pacific, sub-Saharan Africa, and Middle East and North Africa.<\/p>\n\n\n\n

The results point towards a trend that has been happening for years, in which with the open-access of online platforms independents gain opportunities and major labels lose their gatekeeping power of music distribution. Encouragingly, as the power shifts back towards artists MIDiA found that revenues were evenly distributed across non-major labels.<\/p>\n\n\n\n

MIDiA writes: “The global recorded music market is more diverse, fragmented, international, and regional than it has ever been. Streaming and social media have broken down many traditional barriers, but arguably the most important change was access. Access to audiences and access to global markets specifically.”<\/p>\n\n\n\n

They go on to say: “This has underpinned the growth of thriving independent ecosystems of labels, distributors, artists, and vendors.” <\/p>\n\n\n\n

With free distribution to the world’s top platforms like Spotify<\/a>, Apple Music<\/a>, Amazon Music<\/a>, TIDAL<\/a>, Deezer<\/a> and many more with RouteNote<\/a>, all independent artists and labels have the opportunity to get heard around the world.<\/p>\n\n\n\n

Sign up for free music distribution at www.routenote.com today.<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

MIDiA state “there has never been such comprehensive research done” which reveals that independents now make up nearly half the music market.<\/p>\n","protected":false},"author":12,"featured_media":101808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[13],"tags":[635,5802,1423,8088,23,825,5473],"acf":[],"yoast_head":"\nIndependent music hits record 46.7% ownership - RouteNote Blog<\/title>\n<meta name=\"description\" content=\"MIDiA state "there has never been such comprehensive research done" which reveals that independents now make up nearly half the music market.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/routenote.com\/blog\/independent-music-hits-record-46-7-ownership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Independent music hits record 46.7% ownership - 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