CD BABY ARTISTS EARNED OVER $100 MILLION IN 2018
Independent artists worldwide are generating serious money for the music industry. According to estimated figures published by MIDiA Research, total revenue generated by ‘self-releasing’ artists in 2018 was $643 million – up 35% on 2017, when the equivalent annual number hit $472m. Today, can reveal that a single distribution company, CD Baby, contributed over $100m of that $600m-plus independent artist revenue. US-based CD Baby, which started as an online CD store in 1998, now represents over 750,000 recording artists, 170,000 songwriters, and over 9m tracks across 800+ genres. Speaking today (January 8), CD Baby CEO Tracy Maddux revealed that his company’s 2018 artist earnings had topped $100m. That’s up at least $20m on the previous year, when it distributed around $80m in 2017. And while Maddux explained that CD Baby doesn’t disclose certain precise fiscal details, he did confirm that the company’s 2018 gross revenues were “in the range $120m fo...