Martin Mills and Alison Wenham
Photo: Michael Crabtree/Bloomberg/Getty Images
Good News For Indie Labels: Report Spotlights 40 Percent Market Share
On Dec. 4 the Worldwide Independent Network (WIN) released its 2018 report on the growing financial strength of music's indie sector last year. "We are delighted to publish the third edition of the annual WINTEL report," said WIN CEO Alison Wenham, "which highlights the global independent market share increasing to an astounding 39.9 percent in 2017 a figure that outstrips both the major labels and overall music sector."
The report crunches its numbers based on copyright revenues rather than distribution. IMPALA Executive Chair Helen Smith called out the latest version of the report's 11.3 percent increase in revenue and 46 percent increase in digital streaming revenue, as well as the stand-out statistic that three-quarters of indie artists have chosen to renew their contracts with their indie labels.
— WIN For Music (@winformusic) December 4, 2018
Billboard called out the news that self-release strategies through third-party distributors have risen in revenue from $94 to $101 million. Also, the average indie label receives 31 percent of their revenue from overseas. The sector's growth was 36 percent in China and 17 percent in Latin America.
"With two out of every five 'purchases' of music going to the independent sector, now may be a good time to draw breath and celebrate this incredible achievement," said Martin Mills, Founder of Beggars Group and WIN Chairman.