 Hey, what's going on everybody? This is Tuko from Music IDTV and this is Use the News. So with all the social media going on, with all the opportunities that artists have to distribute their music to Spotify and Apple Music and all the mainstream stores that big artists are in, a lot of people are hearing about how you don't need labels anymore. Labels don't matter anymore, but is that true? I think it's up to you and the situation you are in and able to pull off on your own or in conjunction with a label. But I will go over five reasons why labels don't matter as much as they used to. Number one, market share. Now the big three major labels that we know of are Warner, Sony and Universal. They collectively have about 70% of the market share of the industry. Universal being number one when it comes to the big three. But when you put all the independent labels together collectively in 2016, they had 30% of the market share to Universal's 29% of the market share. And in 2017, they had 29% of the market share to Universal's 29% of the market share, but they were just up by a 0.1%. Then Universal, which makes indie labels the largest sector of the music industry when it comes to revenues. So collectively, they're very strong apart, not so much. But that just lets you know there's a whole other market out there that has a massive share of the industry that has nothing to do with the big three major labels. Number two, live shows. In 2016, live shows turned out to be 43% of the music industry's overall revenues in comparison to recorded music, which was only 38%. So that just lets you know that live music actually started making more money than recorded music. So with these numbers being said, you making money probably has a lot more to do with you being able to get out there and do live shows than it has to do with you signing to a major label, something to consider. Number three, tech is starting to break new artists. When you have Spotify and SoundCloud, which has been democratized and anybody can get on there, you don't necessarily need a label to help you get on these platforms, unlike how it used to be where you needed a label to help you get on the radio. So that's another reason why you don't need the labels as much as you used to. Of course labels use these platforms to launch their artists. Mind you, labels have a huge bank account and they bankroll other acts into popularity. That is something you can't necessarily defend yourself against when you don't have those resources, but it is to be noted that you are on the same platform as those artists and you have some of the same opportunities as other artists who have used the platform without major labels bankrolling them to get some sort of traction for their career. So if you can utilize Spotify and SoundCloud and Apple Music and any distribution channel, you can truly get on to get some traction going and get some live shows. You may not be in such a bad position without a label. Number four, booking agents matter. Yes, booking agents matter a ton. I think Russ confirmed this when he did a Breakfast Club interview. He also mentioned the fact that he used to watch Breakfast Club interviews and listen to artists and when artists would mention they're booking agents, he would go and do his research, reach out to those artists booking agents and he was able to lock down his own booking agent, which assisted him in being able to perform at sold out shows that he's headlining. That's a huge thing to be able to do when you're a new artist. I mean, he's doing that and some major artists aren't necessarily even doing the same thing, but he was able to do this on his own accord. Mind you, live shows are more money than recorded music is so booking agents, it do matter. And number five, we are in a social world with the Nails and Sounds can study showing that 53% of people who attend live shows actually discover new music on social media. It might be more conducive for you to make sure people can find you on social media, find your music on social media than it is for you to try and find some label to get signed to. That's going to matter a bit more whether or not you have social media, even if you are signed to a label, they're going to have to do what they can to build up your social media. So these are all the things that matter outside of the label. These are also some of the things that are showing you where the money is outside of recorded music and what vessels you need to get to that money without needing a label. But let us know your thoughts in the comment section below. Do you still think that labels are necessary? I personally think they can be depending on the situation. I think more labels need to do what Taylor Swift did with Universal, which was a partnership. She's going to license her music and own her masters, but that's just my opinion. Let us know your opinion in the comment section below. Beyond that, if you want more videos like this, be sure to share with a friend, like and subscribe. I am Tuko and I will catch you in the next video.