Independent music is a key driver behind the growth of music streaming and subscription services, new figures from rights agency Merlin show.
According to research from the organisation, audio tracks by Merlin members were streamed more than 1.4bn times in April 2014 - this figure is more than double the streams reported in April 2013.
For almost half of respondents, digital income now represents more than half of their overall business; for one in five Merlin members, streaming accounts for more than 50 percent of this digital income. Independent music on streaming services is outperforming its wider digital market share by up to 20 percent.
Charles Caldas, Merlin chief executive officer (CEO), said: ‘The Merlin member survey and analysis provide a unique and illuminating snapshot of how independent labels are leading the way in the transformation of the global music market.
‘It is now abundantly clear that the new dynamics offered by streaming platforms are well suited to the independent sector. Consumers have been liberated from the tightly controlled storefronts of the past. As a result, the ability to discover, explore and share new music has been greatly enhanced.
He added: ‘Independent labels have long enjoyed an increased market share for sales of digital albums, but we are seeing that usage of indie repertoire on streaming services is even more pronounced. And particularly so on paid-for premium tiers that attract the most committed and discerning fans.’
Merlin is a global rights agency representing many of the world’s most independent music companies. Membership embodies over 20,000 independent record labels and distributors and includes artists such as The xx, Boards of Canada, Arctic Monkeys and Franz Ferdinand.
According to research from the organisation, audio tracks by Merlin members were streamed more than 1.4bn times in April 2014 - this figure is more than double the streams reported in April 2013.
For almost half of respondents, digital income now represents more than half of their overall business; for one in five Merlin members, streaming accounts for more than 50 percent of this digital income. Independent music on streaming services is outperforming its wider digital market share by up to 20 percent.
Charles Caldas, Merlin chief executive officer (CEO), said: ‘The Merlin member survey and analysis provide a unique and illuminating snapshot of how independent labels are leading the way in the transformation of the global music market.
‘It is now abundantly clear that the new dynamics offered by streaming platforms are well suited to the independent sector. Consumers have been liberated from the tightly controlled storefronts of the past. As a result, the ability to discover, explore and share new music has been greatly enhanced.
He added: ‘Independent labels have long enjoyed an increased market share for sales of digital albums, but we are seeing that usage of indie repertoire on streaming services is even more pronounced. And particularly so on paid-for premium tiers that attract the most committed and discerning fans.’
Merlin is a global rights agency representing many of the world’s most independent music companies. Membership embodies over 20,000 independent record labels and distributors and includes artists such as The xx, Boards of Canada, Arctic Monkeys and Franz Ferdinand.
