A new study has found that Australia's independent recorded music sector generated $183 million of revenue in the 2018/19 year, up from $153 million in the 2014/15 year.
Australian Independent Record Labels Association (AIR) engaged Deloitte Access Economics to collect data from independent record labels and distributors in Australia, asking them about their operations in 2018-19 and comparing data to previous findings in their report for the 2014-15 year (also commissioned by AIR).
The report, which highlights Australia as the eighth largest market of digital music, indicates the independent sector is growing steadily, with the total recorded revenue having increased by 18 per cent since the '14-15 study.
The $183 million includes revenues earned by labels and distributors across all channels: digital, performance, physical, synchronisation and ancillary.
The research estimates the independent recording sector's market share is 31 per cent of the total Australian recording industry. This is consistent with 2014-15 study and reflects growth in both the independent sector and in the recording industry more generally.
"Notwithstanding the challenges that COVID-19 has placed on us all," AIR's General Manager Maria Amato says, "the Australian independent recorded music sector will strive, as it always has to build itself from the ground up to overcome the many challenges of limited resources to find opportunities for growth.
"We wish all the many artists, labels and distributors operating in this space all the very best for continued success doing what they love on their own terms."
While the exact number of independent labels is unknown, there are at least several hundred in operation. So this study represents an important benchmark for future analysis.To read the complete report, click here.