New Report from ORCA Highlights Economic and Social Impact of Independent Record Labels

Global think tank ORCA (Organization for Recorded Culture and Arts) has released its second report demonstrating how independent record labels deliver significant economic and career-building value for artists.  

The report was written by the Center For Music Ecosystems and includes information from nine independent labels with worldwide presence: Alligator Records, Domino Recording Company, Hopeless Records, Ninja Tune, Partisan Records, Playground Music, Secret City Records, Secretly Group and XL Recordings. 

The analysis shows these labels invested $134 million in artists in 2023, with an average of $236,197 supporting each artist. For every $1 invested, $1.77 in revenue was generated, with 77% of that profit paid out to artists. Artists supported by these labels saw an average 44% increase in Spotify followers between 2023 and 2025, demonstrating the benefit of long-term investment.

For the first time, we have real numbers that show the economic power of independent labels and the benefits this model delivers for artists. Independent labels have always championed a long-term mindset, developing an artist over time, taking creative risks and nurturing new sounds that shape the music industry. This report shows how this approach provides tangible and meaningful returns for artists, while sustaining a business model that benefits culture, the economy and society more broadly.
Patrick Clifton, ORCA Executive Director

We welcome ORCA’s much-needed work in shedding light on the economic outcomes of the partnership between independent record labels and artists. As investors who create significant return on investment, independent labels deserve a fair financial return alongside artists, a principle we reflect in our Global Independent Values.
Noemí Planas, WIN CEO

Read ORCA’s press release here, the full report in English here, and the executive summary in French, Portuguese and Spanish. 

About ORCA
The Organization for Recorded Culture and Arts (ORCA) is a global think tank and advocacy group formed by leading independent record labels, dedicated to advancing the economic, social, and cultural value of music. By producing evidence-based, globally relevant research, ORCA equips policymakers, trade associations, and communities with actionable insights to strengthen music-powered ecosystems and promote inclusive industry growth. Founding supporters include Because Music, Beggars Group, City Slang, Domino Recording Company, Everlasting Records!, Exceleration Music, Hopeless Records, !K7 Music, Ninja Tune Records, Partisan Records, Playground Music, Secret City Records, Secretly Group, Sub Pop.