TEST

Martin Mills, founder and chairman of the Beggars Group (one of the largest group of Independent record labels in the world), recently accused the major labels of "only being interested in investing in artists that are expected to sell half a million records." Although many of the Majors countered this claim, referring to it as "pure fiction" and "breathtakingly simplistic," it certainly does seem to be a pattern we see regularly. The question is, can we blame them? In looking closely at current industry trends, we've fleshed out the role of the Majors versus the Independents today and looked at what the future may hold.

Let's face it - our attention spans are short.

Over the past decade we've seen music trends change much quicker than before. What's popular today could just as easily be off the radar tomorrow. So, it's only natural that the Majors would hesitate to invest hefty amounts of time and money into an artist that they would need to cultivate over the long term. At least if they sign a big, on-trend pop artist to their label, they can be more sure of an immediate return instead of signing a developing artist and hoping the public doesn't get bored and move onto the next trend before they get their big break.

Times change. So does the music industry.

A large factor in why we change our tastes so quickly is that we live in a time of instant information and instant gratification, and today's technologies jointly develop and satisfy our hungers for both. Because of all the opportunities out there for budding artists to record and promote their own music, there's no limit to the amount of musical talent that we can stumble across. There's a plethora of music websites and blogs, which ensure we always have access to new tunes. The ever-growing music-streaming trend also has the potential to bring a lot more attention to acts on Independent music labels than the good ol' FM radio does. With not a lot of money, oodles of energy and a generous lathering of Internet, smaller artists can now easily self-promote and give themselves a platform for success. That leaves the mainstream pop artists, who are craving a massive marketing machine, to be snapped up by the Majors and catapulted into the stratosphere.

A Major fall and a minor lift.

When so much is changing so rapidly in the industry, it's only logical that the roles of all players involved will have to adapt accordingly. The Majors are struggling just as much, if not more, than most to work out just what their part is in it all. For the moment at least, it appears their strategy will continue to be the signing and promoting of the latest mainstream artists. Of course only time will tell if signing artists that are lucrative in the short-term will work out for them in the long run. With smaller artists now able to record and promote themselves, Independent labels can run at a lower cost but they have a challenge on their hands in justifying their worth to a new breed of self-sufficient musician.

So where to from here?

If we take a look back in history, there's a very long list of artists who got their start with Independent labels and went on to make a huge, lasting mark on the mainstream music industry. "The really great artists of the ages didn't look like they would sell [half a million] records when they first released a record," says Mills. Independent labels are in the business of taking artists that may not be perfectly polished but have overwhelming potential, and developing them into something great. Today's technology gives them even more budding artists to find and recruit as well as more opportunities to get them heard. So although they may eventually make it to the "mainstream" labels, we think we'll see more fresh and original talent coming onto the scene than ever before in the coming years - with or without the major record labels.

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