Independent music publishers - statistics & facts
Without them, our every-day-life would be quite silent. Music publishers, in cooperation with music distributors and the artists themselves work together to make sure that we can enjoy music at home, while commuting, or during a break. While the three major players, Sony, Warner Music, and Universal Music dominate the global music market, independent music publishers as a whole have ever since established themselves on the scene as well.
While indie artists are struggling with the rising competition, the role of social media in discovery as well as the influence of streaming on access to music is a promising factor for the future of the independent music and thus a route for the publishers to follow.
Music streaming changing the game?
Towards the end of the 2010s, independent music publishers saw their market share peak after a decade of reliable growth. During that time, all indie publishers together managed to hold the big fish at bay. Despite having lost some of its share to the benefit of Universal and Sony since then, the independent music publishing sector recorded a growth of revenue in 2022. Similarly to the rest of the global music industry, independent music publishers owe their revenue growth primarily to the boom of music streaming. Approximately one fourth of music streams recorded on Spotify came from independent music, thus doubling its share on the platform since 2017. Growth in the digital segment might also be a necessary push in order to keep up with the bigger and more famous competitors. While indies clearly outshone the big publishing companies in the physical segment in 2023, their digital market share altogether placed between UMG and Sony, which poses a potential for growth.Independent musicians – deal or no deal?
The music industry has been changing over the past few decades and so have the musicians’ opportunities and success. Gone are the times where landing a record deal with a renowned music label was crucial for success. Self-publishing or a viral hit being passed on around the globe can just as well do the trick. As data gathered in the United States suggests, social media can be a boost to the discovery and interaction with new artists and music. This in turn can become a steppingstone in the career of yet unknown, indie musicians. The fruits of publishing music independently seem tempting and musicians can keep rights, profits, and control of their work to themselves. Yet, volatile income and no support in administration and promotion make it a risk – especially in the endless ocean of competitors online. In reality, the majority of independent musicians feel that lack of exposure is one of the biggest obstacles in their career and they don’t manage to pay their bills with their music. At the same time, most of the independent musicians who published music on a streaming service stay in the lowest ranges when it comes to listeners and streams.While indie artists are struggling with the rising competition, the role of social media in discovery as well as the influence of streaming on access to music is a promising factor for the future of the independent music and thus a route for the publishers to follow.
