Indie Labels Form New Trade Group

CNET: A group of 125 independent record labels initiated a new trade group Monday night called the American Association of Independent Music (A2IM) and members are seeking to merge their fragmented market power, ultimately hoping the union will give them more equality with the four majors. The new group will be focused primarily on the transformation of the music market online and in other digital distribution mediums. Steve Gottlieb, chief executive officer of TVT Records and a member of the group's board of directors noted that "more than 30 percent of Internet radio play is drawn from independent artists and labels" so the collective power and subsequent leverage should prove to be a useful in negotiations. The group will be based in New York and plans to have a presence in Washington focused on legislation...

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--Indies Gather for Official AAIM Meet  (Subscription needed...)