Record label market share in Q3 2024 has Sabrina Carpenter's Island helping power Taylor Swift’s Republic to No. 1, while Interscope saw huge gains.
Sabrina Carpenter performs on stage during the Short N' Sweet Tour held at Madison Square Garden on September 29, 2024 in New York City.As the third quarter of 2024 comes to a close, a familiar label is atop the current market share standings: Republic, which for the second straight quarter maintains a market share north of 15%, a remarkable achievement.
Year over year, the indie sector by distribution ownership also grew, up to a 21.21% current share through the first nine month of this year, as opposed to 20.43% during the same period last year, a significant uptick; the’s “A Bar Song ,” was released by indie EMPIRE. By label ownership, the indie sector remains the biggest segment of the business, racking up a 37.09% current share of the market, though that has come down somewhat from the 39.49% it had through the same period in 2023.
In fifth and sixth are a pair of Sony Music labels that move up a spot in the rankings year over year, though both dropped in market share over the same period last year: Columbia Records, which includes some RED labels in its share, posted a 4.41% current mark, a slight uptick from its midyear 4.35% but down from last year’s 4.93% nine-month mark, when it was sixth; and RCA, at 4.30%, a dip from the 4.64% it had nine months into 2023, though it is up from seventh to sixth for this quarter.
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