Australian industry body AIR has co-published a report with Deloitte that claims independent labels account for 30% of the $400m recorded-music industry there.
Among the report’s other headline claims: 44% of those indies’ revenues come from digital channels, while 57% of their revenue is attributable to Australian artists.
That’s good news for the independent sector, although one caveat is that the report is based on a survey of labels about their businesses in 2014-15, which in the fast-moving streaming era makes it a little out-of-date.
“We estimate that in 2014-15, the [Australian] independent sector had revenue of $154.8 million, and released over 6,000 singles and albums,” explains the report.
The period covered is reflected in the breakdown of indies’ digital revenues: 61% from downloads and 29% from streaming.
Compare that to the IFPI’s figures for the overall Australian market in 2016 – majors included – when streaming accounted for 55.9% of digital revenues, and you can see how the market has been moving.