- Of the revenue recorded in 2021 for the global music recording market, $18.7 billion belonged to major record labels; just under $7 billion was earned and pocketed by independent music artists
- Independent artists face problems with music production, distribution, and promotion, often losing rights to their music to the major labels, which provide the funding up front but enforce strict contracts
- Fan Pass Live 360-degree artist platform provides independent artists with the tools and support necessary to produce, distribute, and market their music without losing the rights
Independent artists face numerous obstacles in pursuing success in the music industry. With record labels controlling a majority of the revenue, it’s more than challenging for independent artists to find a real footing. According to IFPI, the global music recording market reported revenues of $25.9 billion in 2021. Of this global total, $18.7 billion belonged to the major record labels, meaning that just under $7 billion belonged to the independent music artist revenue (https://ibn.fm/QCYJ9). In addition, when compared to the 2020 numbers, it suggests that independent artist revenue is growing three times slower than that of the major labels.
Friendable (OTC: FDBL), a mobile technology and marketing company focused on developing and identifying products, services, and brand opportunities, offers a 360-degree artist offering, free from labels, that answers the majority of the roadblocks encountered by independent artists who want to earn revenue but not at the cost of label control.
For independent artists looking to turn their music from a hobby into a lifestyle, production, distribution, and marketing, are the three areas that matter. In most instances, record labels that sign an artist will give them money up front and then produce, distribute, and market the music – but with a major…
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