Midia Research’s latest report explores the burgeoning independent-artists sector, commissioned by one of the companies – Amuse – that’s trying to help those independent artists break through.
Some of its findings build on past Midia research. For example: “Artists without record labels generated $643.1 million in 2018, up 35% from 2017. These independent artists represent the fastest-growing segment of the global recorded music business,” claims the report. That said, it also notes that this is a very long tail. “Nearly three quarters of independent artists earn less than $10,000 a year from music, and average incomes are also low even for signed artists,” it claims, adding that streaming is now the primary source of income for independent artists – accounting for 30% of their earnings. “Whether signed to a label or not, over two thirds of artists feel they will have to keep up other work alongside music in order to make ends meet…” There’s more in the full report, which can be downloaded for free here