The proliferation of digital music has turned the industry upside down for labels large and small. Independent record labels are more adaptive and flexible to industry changes, but they have still suffered the effects of the recession and the changing landscape of music production. While CD sales in America have dropped significantly over the past five years, revenue from digital music sales is expected to increase in the coming years. Furthermore, increases in disposable income and consumer spending will help support improvements in overall industry revenue.
Independent record labels find musical talent, record songs and distribute the work to retail and digital outlets. These labels have smaller budgets and operations than major labels, and independent labels frequently outsource manufacturing and distribution of physical records. Major labels are included in the Major Label Music Production industry (IBISWorld report 51222). This industry also excludes sole proprietorships.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.