Music streaming is boosting indie label growth with more than half these imprints stating digital now accounts for over 50 percent of revenues, a new study has revealed.
Merlin, the global rights agency for the independent sector, announced the results as part of its 2015 member survey.
The organisation’s membership consists of more than 20,000 labels including the Beggars Group, Domino Records and Warp.
According to the study, one in three indie labels believe digital makes up over three-quarters of their total revenues.
One in three respondents reported that music streaming and subscription services now account for over half of their digital income. This figure is up from one in five reporting the same back in 2014.
Nearly two thirds of respondents said that revenue was increasing across all areas of their business.
Charles Caldas, Merlin’s chief executive officer, said: ‘The Merlin membership survey again shows how strongly the world’s leading independent labels are faring in the global digital market.
‘This year’s results highlight the speed at which music fans are transitioning towards streaming and subscription services, and how independent labels are leading that change, and growing their audience in the process - with the vast majority growing their digital revenues and expanding their business overall.’
Further findings showed that the usage of Merlin label content on streaming and subscription services was 35 percent more on paid for rather than free tier services.
Merlin, the global rights agency for the independent sector, announced the results as part of its 2015 member survey.
The organisation’s membership consists of more than 20,000 labels including the Beggars Group, Domino Records and Warp.
According to the study, one in three indie labels believe digital makes up over three-quarters of their total revenues.
One in three respondents reported that music streaming and subscription services now account for over half of their digital income. This figure is up from one in five reporting the same back in 2014.
Nearly two thirds of respondents said that revenue was increasing across all areas of their business.
Charles Caldas, Merlin’s chief executive officer, said: ‘The Merlin membership survey again shows how strongly the world’s leading independent labels are faring in the global digital market.
‘This year’s results highlight the speed at which music fans are transitioning towards streaming and subscription services, and how independent labels are leading that change, and growing their audience in the process - with the vast majority growing their digital revenues and expanding their business overall.’
Further findings showed that the usage of Merlin label content on streaming and subscription services was 35 percent more on paid for rather than free tier services.
