Local Indie Artists Make Up A Third Of What Aussie Music Lovers Are Listening To

The economic value of our indie artists has been stamped today following news that independent music makes up a third of the Australian market share. 

New research conducted by Australian Independent Record Labels Association (AIR) has found that independent music's estimated total revenue equated to over $154 million in the 2014/2015 financial year. 

The report, titled AIR Share: Australian Independent Music Market Report, will be launched at BIGSOUND today.

Other key findings from the report include:

• The Australian recording industry as a whole had revenue of just under $400 million in 2014-15 

• 44% of independent sector revenue comes from digital channels 

• More than half (57%) of independent sector revenue is attributable to Australian artists 

• 95% of independent sector music releases are new content

"This is truly a benchmark report that serves as the first indicator of the enormous cultural and fiscal value the Australian independent recording sector contributes to the Australian economy," AIR general manager, Maria Amato, said. 

"For the 2014-2015 year, the findings indicate a 30% market share of a $400 million sector and presents a view that the cultural value and contribution of music in Australia rests with the Independent sector."

Mushroom Group's Chris Maund added, "The independent sector is important for the industry, but also for the Australian community.

"We sign a lot more Australian artists than the majors, creating funding and opportunities for local talent.

"Also indie labels can afford to take more risks, and so ensure the diversity of music. Almost every new music genre in history, from hip-hop, grunge to trance, were launched from indie labels, with the passion and low overheads to take such risks."

The full report will be available from 11am on the AIR website.