How big is the indie music market?
Streaming growth driven by independents (labels and artists) Streaming revenues reached $14.2 billion, up 19.6% from 2019, adding $2.3 billion, up from the $2.2 billion added in 2019.
How much do indie artists make?
Average income paints a similar picture: independent artists earned an average of $12,860 a year off music, and label artists earned an average of $23,913. About three-quarters of independent artists earned less than $10,000 a year from music, compared to 61% of label artists.
How much money did independent artists make in 2020?
Individually, artist streaming royalties increased a whopping 82% year to year, from $106 million to $193 million, and accounted for just under 50% of the top 40 Money Makers’ total income. Sales royalties, digital and physical, were also up 39%, from $42 million to $59 million; a trend that continues so far this year.
Are indie record labels profitable?
That being said, indie labels are able to promote their recordings for far less than the major labels, allowing them to turn a profit much easier. Major label artists can easily spend from $100,000 to nearly $1 million producing their album. Independent artists and bands will not spend even half of that.
Who is the highest paid independent artist?
8 Highly Paid Independent Recording Artists
- 5 5 – Malcolm James McCormick “Mac Miller” – $6 Million.
- 4 4 – Aaron Dontez Yates “Tech N9NE” – $8 Million.
- 3 3 – Early Stevens aka “E-40” – $8 Million.
- 2 2 – Ben Haggerty “Macklemore” – $16 Million.
- 1 1 – “Ray J” Norwood- $18 Million.
Are record labels dying?
The standard record company label – still booming just a decade and a half ago – is dying. Previously, many marketing platforms and digital tools were only accessible by record companies on merit of financial ability to purchase or pay for them. Now, marketing music has become dramatically more simplistic.