Indie musicians right now face market oversaturation, AI-generated music and financial uncertainty
Indie musicians right now face market oversaturation, AI-generated music and financial uncertainty
In 2024, independent musicians face increasing challenges in sustaining their careers. We all think it, we all seem to see it. And now a report from Musosoup, called Musician’s Census, also adds some real data behind this gut feeling.
The report comes from Musosoup, a music promotion platform designed to help independent artists gain exposure and connect with media outlets, blogs, and playlists.
None of the respondents in the report were signed to one of the three major record labels. 70% reported being an unsigned artist. Almost one quarter (24%) releasing music via their own independent label. 4% reported being signed to an independent label.
The struggles are – according to this report – driven by market oversaturation, AI-generated music, and financial uncertainty.
We will explain you the 6 reasons that this new report puts forward and what the data reveals about the current landscape for independent artists. And while it does not really handle darkwave musicians, you can easily copy paste the findings also in this scene.
Here are the 6 problems independent musicians face according to this new report.
1. The market is overcrowded
The reports points out that there is an overwhelming amount of music being released daily, with respondents stating that it has become harder to stand out. With 68% of independent musicians agreeing that it’s increasingly difficult to succeed in this environment, it’s clear that the sheer volume of content is one of the primary obstacles. AI-generated music is also contributing to this saturation, as some artists expressed concerns about how it dilutes the quality of music and creates further competition.
2. Income streams are limited and unreliable
For independent artists, streaming and live performances are the top two sources of income, accounting for 40% and 32% of reported earnings, respectively. However, the financial model is precarious. A staggering 62% of respondents admitted they are unsure whether they receive the full payment owed to them from these platforms. Only 29% are confident that they get paid accurately for their work.
This uncertainty stems from a lack of transparency in royalty systems and payment structures. The report found that many musicians feel the process of collecting earnings from various platforms is overly complicated, leading to a sense of disillusionment with the financial side of the music industry. Statements such as “I pay more than I make” reflect the frustrations felt by many musicians today.
3. Social media: a double-edged sword
Social media plays a central role in music promotion, with respondents using an average of five different platforms to market their work. Instagram emerged as the most popular platform, followed by Facebook and YouTube. Yet, while social media offers access to large audiences, it doesn’t guarantee success. Many musicians reported that building and maintaining a fanbase through these platforms is increasingly difficult.
Despite their efforts, artists struggle to convert social media engagement into real-world success. Even though TikTok has seen growing popularity among younger musicians, it remains a secondary promotional tool for most artists. The reliance on social platforms also leads to issues with time management, as musicians often juggle the responsibilities of content creation, fan engagement, and music production on their own.
4. Distribution services: a love-hate relationship
Distribution services like DistroKid, CD Baby, and TuneCore are widely used among independent musicians, with DistroKid being the most familiar platform. However, these services also face criticism. While DistroKid is both the most liked and most disliked service, satisfaction with distribution platforms generally hovers at a moderate level, with an average satisfaction rating of 3.74 out of 5.
Musicians value distribution services that offer good value for money and personalized customer service. Advertising and sales offers, on the other hand, were ranked as the least important factors when choosing a distributor. This indicates that musicians prioritize functional and transparent service over flashy promotions.
5. Demographics and artist profiles
The report also sheds light on the demographic makeup of independent musicians. The majority (71%) of respondents identified as male, with a smaller proportion (28%) identifying as female. Only a minuscule fraction identified as non-binary. Age-wise, the largest group of respondents (28%) were aged between 26 and 35, but the census shows representation across all age groups, from under 18 to over 55.
Most independent musicians operate as solo artists (65%), while a smaller proportion work in bands or multiple projects. The vast majority (70%) are unsigned, releasing their music independently. This kinda shows the growing trend of self-reliance in the industry, where artists are taking control of their careers but facing the complexities of managing distribution, promotion, and finances on their own.
6. The complexities of getting heard
The most pressing challenge for independent musicians is getting their music heard. Over half of the respondents (54%) cited this as their primary struggle, followed by making enough money (16%) and finding time to handle all aspects of their careers (12%).
The path to success is fraught with obstacles
In short, the Musician’s Census 2024 report paints a clear picture: while the digital age has made it easier to produce and distribute music, it has also created an oversaturated market with numerous challenges. They have to use what they seem to consider ‘complex’ financial systems, rely on often-overwhelming social media strategies, and face uncertainty about their income.
The data also suggests that while passion remains a driving force, the path to success is fraught with obstacles that demand adaptability and resilience… and that is put very mildly.
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