While not without their own challenges, indie record labels appear to be experiencing a renaissance, thanks in part to new technologies and media that did not exist 5 years ago. Their nimbleness and a fan-like eye for emerging talent is being rewarded by a cadre of fans who continue to demand and support quality music.
In short, when the traditional gatekeepers and obstacles to reaching fans are removed, indies thrive. As proof that an indie label renaissance is well under way, indie label trade group The American Association Of Independent Music (A2IM) offered these stats:
- Independent labels accounted for 32% of aggregate album sales in 2008, up almost 1.5% from 2007.
- Independent artists won 56 awards at this year's Grammys, up from 36 last year. That marks over 50% of all prizes given out
Watch for a special Hypebot series on independent label in mid June.