(Hypebot) — Here Emmanuel Ojo provides some key stats and data that every indie artist cutting their own path through the music biz should be aware of.
Guest post by Emmanuel Ojo of Disctopia
We will assume you are a noob as far as independent artists and independent music are concerned. In case you come across indie music or indie artists in this piece, know we are referring to independent music and independent artists, respectively.
In this piece, we’ll focus on Independent artists’ statistics and facts. All that you have to know about indie music and indie artists;
- Indie rock is the most preferred genre among indie music lovers.
- While an indie artist may be unsigned to any major record label, they may collaborate towards the distribution of their music.
- In 2018, indie artists generated about $643.1 million.
- About 70% of indie artists generate less than $10,000 from their music annually.
- As an indie artist relying on streaming revenues, you’ll need about 3,000,000 streams annually to generate about $12,000.
- By the end of 2020, indie artists are expected to have generated about $2 billion in streaming revenues.
- Chance The Rapper is an independent artist who has recorded significant success. His 2016 Mixtape Coloring Book earned him three Grammys while he peaked at number eight on the Billboard.
- There is a possibility that a lot of independent artists are signed to a major record label.
- With over 1 Billion users in about 150 countries, TikTok has proven to be the best social media for Independent artists.
- One of the music industry trends of 2020 is the power shift from major record labels to indie music. It noted that indie music would become more desirable than signing with major labels.
- Streaming is the primary source of revenue of most independent artists, making them less exposed to the pandemic’s impact.
- By selling merch as an indie artist, you’ll generate additional revenue, create a special connection with your fans, and build your artist brand.
- T-Shirt is one of the fastest-selling merchandise you can sell as an indie artist.
- The earnings of indie artists have surpassed those signed to major record labels.
- Independent label music production in the United States is worth $382 million.
- In 2019, indie represented about 33% of the top 100 streaming, from 15% a year earlier.