Major labels continue to dominate the music business, but there are at least a dozen indie labels making a healthy living in the age of streaming.
The music industry is not what is once was, and that is a good thing. There was a time in the not too distant past where the gap between major label dominance and successful indie labels felt unfathomable. Streaming and the internet changed things, however, and a new graphic from the folks at Billboard has revealed just how different the business of music has become.
According to an article first released in the April 27th issue of Billboard, in the first quarter of 2019, independent labels collectively accounted for an estimated 36% of U.S. market share when measured by label ownership. With total revenue of $2.3 billion in 2018, the 12 indies highlighted below had some of the biggest U.S. paydays.
The top earning labels have found success by diversifying their portfolios. Concord Music Group, for example, has acquired numerous smaller labels and catalogs over the last few years. Big Machine Label Group, on the other hand, has been foraying into the world of alcohol and spirits with artist-branded products that are then sold through tours and other live appearances.
Several of the labels featured here, including Concord Music Group, BMG, Entertainment One, use Haulix to promote their new and upcoming releases to tastemakers around the world. You can join them and thousands of other industry professionals in using the service today, for free. Click here to discover the Haulix difference.