The scale of ‘DIY’ music uploaded to streaming services has skyrocketed, and the three major record companies – Universal Music, Sony Music, and Warner Music – have seen their market share eroded, slightly but consistently, year-over-year. This spells unhappy news for the ‘majors’, who have historically been benchmarked against one another, and the industry at large, by market share above any other metric. The trend can largely be explained by the explosive growth of the independent and in particular ‘DIY’ artist sector in recent years.
