Overall Revenues Up 11.3% Year on Year
Global Streaming Revenues up 46%
WINTEL 2018 is the third report produced for Worldwide Independent Network (WIN), mapping the global market share of the independent sector at copyright, rather than distribution level.
This new report was created and commissioned by WIN to analyse the global economic and cultural impact of the independent music sector. It is created by Mark Mulligan of MIDiA Research, and authored by Music Ally. The results, gathered from 33 countries, represent the most comprehensive assessment of the global independent record label sector ever compiled.
This research shows that independents increased their global market share from 39.6% in 2016 to 39.9% in 2017 with that growth outpacing that of the major labels, whose revenues only grew by 9.7% in the same period.
Global revenues also increased from $6.2bn in 2016 to $6.9bn in 2017, which equates to strong year-on-year growth of 11.3%.
It is also worth noting that the independent sector outperformed the overall music market, which grew by 10.2% last year.
One of the really interesting themes to emerge from this year’s work was the loyalty that independent labels enjoy from their artists. When offered, 77% of artists choose to renew their contracts with their independent labels, with that rate above 90% in Spain, Brazil, the Netherlands and Denmark.
A nuanced, but crucial takeaway from this year’s research is that the independent sector is booming, but that the major record labels are important partners in that growth, providing independent labels with the global scale tools and teams that they need to compete in this increasingly global music market.