The Great Escape: Independent record labels and artists are keener to embrace digital than their major label counterparts, a music industry expert has said.
Charles Caldas, chief executive of rights agency Merlin, made the comments during a presentation on new research from his company at The Great Escape festival in Brighton.
‘The independents have been much more engaged in the digital space. A key distinction from the majors is that they’re not trying to protect something which has gone, but participate in something which is coming,’ he explained.
He said that forward thinking record labels and artists can utilise digital to help encourage consumers explore a back catalogue as well as new releases.
Chris cited Domino Records as a label which embraced Spotify when it launched, putting together playlists and encouraging fans to use the platform.
‘This tactic helps increases incremental revenue as it becomes about sustained listening rather than just the first few opening weeks of a release. The digital market re-opens the discovery of back catalogue and makes more music available,’ he Charles explained.
The research from Merlin, which was launched at The Great Escape yesterday (16 May), revealed that 92 percent of respondents in its recent survey saw streaming and subscription revenues grow between 2011 and 2012. A third of this figure enjoyed increases of more than 100 percent.
Forecasts from Merlin showed that more than $65m in royalties are expected in streaming revenues for Merlin members during 2013.
Merlin is global rights agency for the independent record sector with more than 20,000 members.
Charles Caldas, chief executive of rights agency Merlin, made the comments during a presentation on new research from his company at The Great Escape festival in Brighton.
‘The independents have been much more engaged in the digital space. A key distinction from the majors is that they’re not trying to protect something which has gone, but participate in something which is coming,’ he explained.
He said that forward thinking record labels and artists can utilise digital to help encourage consumers explore a back catalogue as well as new releases.
Chris cited Domino Records as a label which embraced Spotify when it launched, putting together playlists and encouraging fans to use the platform.
‘This tactic helps increases incremental revenue as it becomes about sustained listening rather than just the first few opening weeks of a release. The digital market re-opens the discovery of back catalogue and makes more music available,’ he Charles explained.
The research from Merlin, which was launched at The Great Escape yesterday (16 May), revealed that 92 percent of respondents in its recent survey saw streaming and subscription revenues grow between 2011 and 2012. A third of this figure enjoyed increases of more than 100 percent.
Forecasts from Merlin showed that more than $65m in royalties are expected in streaming revenues for Merlin members during 2013.
Merlin is global rights agency for the independent record sector with more than 20,000 members.
