Artists need record labels, says IFPI

A music industry body has insisted that artists still need record label support in order to enjoy a successful career.

According to the IFPI, the notion that musicians do not need backing from a record label in the digital age is a myth.

Indeed, chief executive John Kennedy said the investment, partnership and support that record companies provide have never been more important than they are today.

"Much of the value added by music companies is invisible to the outside world," he commented.

"Yet it is the investment and advice from labels that enable an artist to build a career in music."

Mr Kennedy said there is no evidence to support the view that bypassing a record company could be beneficial.

He added that even those artists who first rose to prominence on the internet, such as Lily Allen and Arctic Monkeys, ultimately ended up with a conventional record label.

According to figures from the IFPI, record companies across the world invest about £3.3 billion a year in their artists.

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