says independent artists generated more than $643 million in 2018, a 35% jump from the year before.
Despite the creative control that artists are retaining, earnings still remain a big obstacle for those who wish to make their living in music — the survey found about eight in 10 musicians do not earn enough from their music careers to not worry about their financial situation. About half of independent and label artists alike say they often have cash flow problems because their income isn't predictable.
That finding underscores a truth that working musicians already knew: being signed to a label, while it can be beneficial for sales and distribution, doesn't guarantee financial success. The MIDiA survey also examined the motivations and mentalities behind what musicians consider success in their chosen field — and there was some variation between independent or label artists. Both groups ranked achieving respect and recognition in their scenes as the top sign of success, but the response was greater among label musicians compared to independent artists .
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