TuneCore Surveys Indie Artists and Label Management on Current State of The Music Industry
1,112 members of the TuneCore community responded to the survey they dispersed asking indie artists and label management about the current state of the music industry. The industry has been and is continuing to rapidly evolve and as those changes take place, artists are both challenged and expected to keep up. TuneCore posed the survey looking for helpful answers – their users did not let them down.
In a recent blog post, TuneCore shared the results of their survey highlighting five areas of the music industry.
Streaming | 67.46% of respondents believe streaming to be an asset to the discovery of new music.
Distribution Without A Label | 64.66% rated the importance of digital distribution as the #1 or #2 most significant and beneficial change in the music industry.
Social Platforms | Facebook claimed this category with 65.11% of respondents ranking the social media outlet first or second most important social network for connecting with fans.
Distribution Channels | 65.83% of respondents put iTunes in the number one slot for distribution channels. (YouTube and Spotify were an even match for runner up)
5-Year Revenue Outlook | Live performance was the favorite across the board. Licensing and paid downloads claimed second and third place.
The survey can be accessed in its entirety on TuneCore.com
Facebook is the WORST social media site now for engaging with fans. It’s incredibly difficult to reach people without paying to boost posts which is ridiculous. Less than 2% of your actual fans will see your posts unless those posts getting enough likes.
Honestly, these stats don’t really mean a hell of beans. Most musicians are not very informed and aren’t really in touch with the reality of the business side of things.
Yep, agreed with above. Facebook is really becoming the worst social site for artists. Not only none of your posts will reach your acquired fans ( on wich you may have spent years to get ), they also now forbid all kind of “Like To Download/Stream” and similar tools and widgets. Facebook is almost plain useless for artists that are starting out.
Just look at last week reported sales, of the 5,227,000 units sold 60% or 3,136,000 where physical (MusicCapitalist.com) and it means that if you don’t have a http://PhysicalDistributionDeal.com then you’re not even fishing in the right pood; And, it makes no sense to keep denying this part of our business.
As for the respondents saying they don’t need a label considering where they are it’s not a stretch that think that they would feel this way. BTW our company had a team of MBA for the University of Maryland (Go Terps) come to do a study with Google Adwords and they found that one of the top search request — artists searching for a label that has physical distribution.