Independent music rights agency Merlin has revealed a 63% year-over-year increase in member payments from April 2018 to March 2019.
The total includes more than $130 million in revenues from settlements and other non-royalty income such as proceeds from the sale of Spotify shares.
The results were announced as part of its 2019 Membership Report & Survey, moving the overall amount paid to independent labels and distributors worldwide to more than $2 billion since it opened for business.
The member survey was created using data collected from independent labels and distributors in 35 countries across five continents.
One of key finding is that 81% of respondents stated their overall business revenues had increased in 2018 – with 30% stating that overall business was up by more than 50%. In previous member surveys, an average of 67% of respondents said their total business revenues had increased the previous year.
Another key finding is that music streaming continues to drive digital income with more than half (54%) of Merlin members reporting that digital income currently accounts for more than 75% of their overall business revenues compared to 39% in their 2018 survey.
Approximately half of the survey’s respondents (49%) stated that streaming is responsible for over 75% of their digital income – up from 37% in 2018.
Merlin is a digital rights agency for independent record labels. The agency reportedly has a membership of over 20,000 independent record labels and distributors from approximately 62 countries.