The 12 Indie Labels With the Largest Revenue Estimates

Quarta_/Getty Images
   

In the first quarter, independent labels collectively accounted for an estimated 36% of U.S. market share when measured by label ownership. With total revenue of $2.3 billion in 2018, these 12 indies had some of the biggest U.S. paydays. 

This article originally appeared in the April 27 issue of Billboard.