Streaming gives $500 million boost to independent music labels

Independent music labels got a $500 million (£380 million) revenue boost over the past year as the streaming boom helps to revive the industry.

“Indies are not only thriving in the new market, we are leading it,” said Charles Caldas, chief executive of Merlin, a non-profit global digital rights agency for independent labels.

A survey showed a surge in earnings growth for labels from Latin America and Asia over the past three years. Jason Reed, of the Arctic Monkeys’ label Domino, said it was gaining listeners and revenue opportunities from Brazil, Mexico, India and Indonesia. “Streaming has helped to provide a clearer picture of whose tracks are being listened to where.”

A rise in customers using paid-for subscription services such as Spotify rather than downloading music for free has provided a fillip for the industry.

Merlin has 20,000 labels in 55 countries — including Björk’s label One Little Indian — and has reached several expensive copyright settlements on members’ behalf since its launch a decade ago.