New IFPI website highlights the leading role record companies play in investing in and supporting artists
IFPI has launched a new website titled Powering the Music Ecosystem designed to showcase the role record labels play in today’s global music landscape as a leading investor in music, and partner and collaborator with artists.
Some of the key statistics referenced are the 33.8% of record company revenues that are invested back into music annually, and the USD $5.8 billion investment that record companies make into A&R and marketing annually.
The site emphasizes the flexibility artists have in collaborating with record companies within new partnership models, and charts one example of the various label teams that artists can work with to advance their career, such as A&R, creative, marketing & digital, sync & partnership, global distribution, and press & publicity.
The site also features several case studies on breakthrough artists like Camila Cabello, J Balvin, and Aya Nakamura, focused on how those artists collaborated with label teams to leverage their creativity and success on a global scale.
For more information, visit the full website and check out the infographic below.