Research has shown that independent artists are considered the fastest-growing part of the global music industry. This is becoming what many consider to first step in the largest paradigm shift the music business has witnessed in decades, according to MIDiA Research and indie distributor Amuse.
A global report carried out presents a projection of how unsigned artists make money and advance their career and ambitions.
Unsigned artists without a label single-handedly generated $643.1 million in 2018, up 35% from 2017. This category of musical artists represents a significant number on the global scale with the most impact. Native streamers are also more than label artists.
The power has been taken out of the hands of record labels. It has been proven that record labels are now a means to an end and not the prerequisite, as statistics have proven that only one-third of label artists consider it important to be signed to a record label, while those without record deals sit on a little bit more than half.
Revenue is another challenge as three-quarter of unsigned artists earns lower than $10,000 annually from music and average incomes are also low for artists on record labels. That is why most artists have more than one source of income from diverse careers just to ensure they are still safe in the food chain.
Now power rests in the hands of artists and not just labels and other mediums, who have to decide the fate and future of artists. Now is the future for artists especially with platforms like CeFlix Tunes advancing their career even in the midst of the hurdles the music industry faces, artists now know that they have control over their career and with this control, a lot of improvement and growth has come with it.
Download the CeFlix Tunes app here and tune in to the Non-stop music channel for a healthy dose of sound celebration.
The CeFlix Tunes app is available for all Android devices in the Google Play Store and iOS users worldwide.