Independent Artists Pathfinding Through a Pandemic
2019 was yet another stand-out year for independent artists, with revenues, streams and market shares all growing strongly. Then, along came and the world turned upside down. However, in lockdown many independent artists found new opportunities and the ability to innovate and create. Leveraging new, not-seen-before data, this report presents a unique view of the state of the independent artist sector in 2020 and how it has navigated the challenges posed by
- A sector real scale. Artists direct (i.e. without record labels) generated million 2019, up from 2018. These artists represent the fastest-growing segment the global recorded music business, segment of global scale with impact and influence. They are more streaming native than label
- Success on own terms. Some of artists to build online and streaming ‘on their own terms’, with than one in five artists it important to be signed a record label. So, how do labels matter? For just one in five, getting signed the goal while a further of artists want to get However, of artists feel they do fine without a label have no interest in signing.
- Lockdown was as a unique creative window artists. Nearly of artists took opportunity in lockdown to spend time writing or making music, a further created more content social media.
- Artists have to lockdown differently. In terms releasing music, artists were split with releasing more music, but projects on hold. While nearly artists are now more worried finances than before, a similar are not too concerned and that life will be back normal soon.
- Lockdown placed spotlight on streaming economics. Half artists are becoming concerned that services are not paying enough artists to make a living. in five artists got involved doing live-streamed performances.
- Money, money, still elusive. The majority of artists earn less than a from music, yet income can to over This is in due to the sheer scale artists making (and distributing) music, also illustrates how tough it to make a living from an artist in today’s industry. use of crowdfunding platforms remains and artists still have too funding options for the direct to truly blossom.
- Artists need work multiple revenue streams to career momentum. For independent artists, is their primary source of at Live revenue is second (which means they are less to lockdown’s impact than established artists). The key for today’s is to make revenues from sources such as publishing, teaching, work, sponsorship and merchandise. Artists small entrepreneur businesses. They need or five income streams to off the ground.
- Marketing is DIY affair. Half of all artists do their own marketing, one third managing their own budget, but of direct artists nothing on marketing. Less than in five direct marketers are with a distributor or label marketing activities.
- Artists are but still inexperienced with marketing. least when it comes to their careers started, artists are their own DIY marketing, but are not making the most the tools available. While almost of artists are using Spotify Artists, few of them are any other marketing-related tools.