Sources of income for independent record labels
Kumpunen, Nestori (2022)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2022060214764
https://urn.fi/URN:NBN:fi:amk-2022060214764
Tiivistelmä
The purpose of this thesis was to collect information on sources of income for independent record labels and to find out if it is possible to earn a living from that line of work. The study was done by using qualitative research approach utilizing secondary and preliminary data. Interviews were used to acquire preliminary data from employees of independent record labels to get insight on the sustainability of their businesses. The role of independent record labels is vital to the whole industry by providing an alternative to the mainstream produced by the major record labels. There are thousands of them battling over a third of the revenue made by the whole music industry.
According to the thesis’ primary conclusions, the rise of streaming platforms has had a significant influence in the industry and is the most relevant source of income for artists and record labels. The content created by independent labels changed and the sources of income and revenue shifted. The biggest variable in the recent years has been the Covid-19 pandemic forcing some labels to find new sources of income such as grants and streaming live performances.
There is not a clear way or certainty that one could earn a living through an independent record label. The industry is at breaking point of finding new ways to provide content since the pandemic lockdowns destroyed the old. The findings suggested that more studies on the subject should be conducted to get more detailed information.
According to the thesis’ primary conclusions, the rise of streaming platforms has had a significant influence in the industry and is the most relevant source of income for artists and record labels. The content created by independent labels changed and the sources of income and revenue shifted. The biggest variable in the recent years has been the Covid-19 pandemic forcing some labels to find new sources of income such as grants and streaming live performances.
There is not a clear way or certainty that one could earn a living through an independent record label. The industry is at breaking point of finding new ways to provide content since the pandemic lockdowns destroyed the old. The findings suggested that more studies on the subject should be conducted to get more detailed information.