Independent labels’ share of the UK music market grew to just under 27% in 2021.
Data from the British Phonographic Industry (BPI) indicates the single-percentage point increase on last year is bolstered by a sharp rise in indie labels' share of the UK’s vinyl market, which now accounts for four in every 10 vinyl sales.
Independent labels' album sales have grown by more than 10% in the past two years to account for 34% all album sales in 2021.
The upward trend continues into 2022, with indie labels' overall market share increasing to 28.9%.
Last week's UK album charts saw indie labels represent the three highest selling records of the week for the first time in over a decade.
BPI Chief Executive Geoff Taylor attributes the rise to the streaming era and the enhanced choice indie labels offer to artists and fans.
“We’re delighted to see the indie sector going from strength to strength, contributing to the growth of the UK music industry as a whole.”