Tunecore Collecting $1m A Day For Independent Artists
It has been reported by Midia Resarch that DIY artists made more than $643m+ from recorded music royalties on 2018
Independent artists made up 3.4% of the global recorded music market last year, this was up 35%. To put this into perspective, WMG's market share was only around 18.5%.
TuneCore has confirmed that artists using it’s platform earned $308m from distribution income in 2018 - up 28% year-on-year.
Midia also suggested that TuneCore could be in control of more than 45% of the indie landscape. This equals nearly $1m per day in artist earnings. This study does not include YouTube monetisation or publishing revenue.
The platform now distributes over 250,000 artists including dance enigma Marshmello.
This news follows a notable increase in the revenue generated by independent artists across all sectors. If this streaming-driven trend continues, will we see more and more artist move away from the Major Label model?