The survey offers a positive picture of the indie market, with 65% of surveyed labels saying their businesses grew in the last year, and 79% saying they are optimistic about their future prospects.
Digital is key to this, as you’d expect: 62% of Merlin’s members say digital is now more than 50% of their revenues – for a third, it’s over 75% – with 39% of labels saying that more than half of their digital income came from outside their home market.
Source: Merlin hails 73% rise in streaming revenues for indie labels