In the 12 months following the release of Un Verano Sin Ti, Bad Bunny became a global superstar. The album, released by the independent label Rimas, became the first Latin album, all-Spanish-language title and non-English-language album to finish as the biggest album of the year, racking up 3.4 million equivalent album units in the United States in 2022, according to Luminate.

For The Orchard, which distributes Rimas, the album’s success led to the Sony-owned distributor’s biggest market share in its 25-year history, vacuuming up 6.39% of the U.S. market in 2022. So, what has The Orchard done as an encore? Boosted its market share even further, to 7.26% in 2023 through the week ending May 18 — besting all but three major labels along the way and taking in $1 billion in global revenue over the past 12 months, according to the company.

The Orchard’s success doesn’t stand alone: Through mid-May, indie labels accounted for 36.9% of all album consumption units in the United States, a number that has ticked up slightly in each of the past few years.

Call it the Distribution Revolution or the Age of the Indie, but every year there are more options than ever for artists who want to be independent of traditional major music group career paths, with more labels, distributors and services companies lining up to help them achieve their goals. Many of those companies can be found on this list, which highlights some of the biggest movers, shakers and industry haymakers that have supported the indie community of artists in the past year.

For this report, record companies are defined as independent by their ownership through entities other than the three major music groups. Distributors, regardless of their corporate ownership, qualify as independent through the repertoire they market. All honorees were chosen by Billboard editors, who used Billboard chart data to select them from the field of nominations submitted by companies, industry peers or the American Association of Independent Music.

These indie power players are behind some of the biggest success stories of the year so far: Rimas for Bad Bunny, Top Dawg Entertainment for SZA and Kendrick Lamar, Big Loud for Morgan Wallen, Third Man for Jack White, XO Records for The Weeknd and many, many more. In fact, four of the five biggest albums of the past 12 months in the United States were released in partnership with companies on this list, which shows the vitality and versatility that exists in the indie community.

That’s made clear by the diversity of the artists that have underpinned The Orchard’s success over the past year, distributing artists in genres such as hip-hop (Nas), country (Kelsea Ballerini), rock (Jack White), R&B (RAYE), reggaetón (Anuel AA) and regional Mexican (Peso Pluma) — just to name a few. But the one thing that ties them all together, says Mary Ashley Johnson, The Orchard’s executive vp of sales, artist and label management, is: They’re “all true indie success stories — all superstars.”

Richard James Burgess
President/CEO, American Association of Independent Music

The trade organization representing more than 600 indie labels offered its members’ employees access to affordable health insurance in fall 2022; lobbied Congress on behalf of the HITS Act, which would allow indie artists to immediately deduct up to $150,000 in production costs; worked to reduce ticket costs by “cracking down on middlemen,” Burgess says; and advocated against programs like Spotify’s Discovery Mode, which A2IM says reduces royalties for artists. “Our participation in multiple coalitions to ensure the success of the entire music ecosystem is a testament to the power and effectiveness of our community’s commitment to collaboration,” Burgess says.

Silvia Montello
CEO, Association of Independent Music

AIM has been helping British indie music companies navigate the evolving industry for 25 years, but Montello says the long-running nonprofit has enjoyed an especially eventful year thanks to its new Angel Investment Syndicate, which offers direct links to music entrepreneurs. The syndicate “will provide essential training to become ‘investment ready,’ ” Montello says, “and has proven to be a major milestone in AIM’s mission to open up knowledge and resources for creative professionals” — in addition to the company’s ongoing discussions with U.K. policymakers on fiscal incentives for creatives.

Noemí Planas
CEO, Worldwide Independent Network

During the past 18 months, WIN has expanded its international reach — the organization set up new regional networks in Latin America and Asia-Pacific — and launched the Latin American Observatory of Independent Music and the Southern Cone’s Independents Forum. “2022 was a year of post-COVID recovery for the music business, and it’s good to see a return to promising things on the horizon,” says Planas, who became CEO in February. Last year also included the launch of WIN’s new international networking project, WINHUB, an online platform and series of in-person events aimed at connecting the indie music community around the world.

Jeremy Sirota
CEO, Merlin

Merlin is looking back on a busy 12 months as it celebrates its 15th anniversary this year. The global digital rights organization added more than 40 new member companies, including first-time members from Cyprus, Iraq, Israel, Kosovo and Romania. A renewed partnership with SoundCloud gives Merlin the opportunity to “experiment with the platform’s innovative fan-powered royalties model to its global membership,” Sirota says. In addition to new partnerships with social media company Pinterest, the gaming music licensing startup STYNGR and the virtual reality fitness app Supernatural, Merlin collaborated with recent partner Twitch to raise money for MusiCares with a series of streaming events.

Helen Smith
Executive chair, IMPALA

Smith, who is based in Brussels, leads IMPALA, an association of independent music companies, with the past year bringing “super varied” highlights — each aimed toward reform. The first is a new carbon calculator, which she calls “the sector’s first custom tool for labels,” developed with British nonprofit Julie’s Bicycle. Second is IMPALA’s equity, diversity and inclusion survey, complete with an “assessment of so-called ‘equitable remuneration’ in this context.” And lastly, she says, “our new call for streaming reform — higher subscriptions, increasing master rights shares of the digital pie to boost investment and contemporary digital royalty rates for all artists, plus new models to shift how revenue is allocated.”

Junia Abaidoo
Co-founder/head of operations, LVRN
Justice Baiden
Co-founder/head of A&R, LVRN
Tunde Balogun
Co-founder/president, LVRN
Sean “Famoso” McNichol
Co-founder/head of marketing, LVRN
Carlon Ramong
Co-founder/creative director, LVRN
Amber Grimes
Executive vp/GM, LVRN

A $25 million investment from the Matt Pincus-led holding company MUSIC in January valued the Atlanta-based LVRN at over $100 million, and it is now blazing ahead with an expansion into Nigeria, the United Kingdom and South Africa. The move empowered LVRN to “augment the team,” says Balogun, with the addition of creative executive Bryan-Michael Cox. The indie R&B powerhouse is enjoying the success of its artists’ releases, including those from 6LACK, Summer Walker, Davido and Baby Tate, whose sleeper hit “Hey, Mickey!” marked her first appearance on both the Hot R&B/Hip-Hop Songs and Hot Rap Songs charts.

Patrick Amory
Co-owner/president, Matador Records
Gerard Cosloy
Chris Lombardi
Co-owners, Matador Records

“At our label’s age [33 years and counting], simply getting up in the morning is an achievement,” Cosloy jokes. Self-deprecation aside, the eminent indie continues to thrive with both genre stalwarts — highlighted recently by Yo La Tengo’s acclaimed 2023 album, This Stupid World; the 2022 box set reissue of Pavement’s final album, Terror Twilight; and Spoon’s Grammy-nominated 2022 set, Lucifer on the Sofa — and the recruitment of promising new bands, such as Water From Your Eyes, bar italia, Lifeguard and indie rock trio Horsegirl, who notched appearances on several year-end lists with its 2022 debut, Versions of Modern Performance.

Noah Assad
Founder, Rimas Entertainment

In January, Assad was named Billboard’s 2023 Executive of the Year, making him the youngest executive and first Latin executive to receive the honor. Assad’s recognition was based significantly on the extraordinary accomplishments of his star client, Bad Bunny, who ended 2022 as the most streamed artist in the world on Spotify and the highest-grossing touring artist of the year, besting stalwarts like Ed Sheeran and Elton John. But Assad’s clout goes beyond Bad Bunny. Since last year, he also manages Latin superstar Karol G, whose Mañana Será Bonito is the first all-Spanish-language album by a female artist to top the Billboard 200. And his label, Rimas Entertainment, also includes veterans Arcángel and Jowell & Randy, as well as newcomers Mora and Eladio Carrión.

Alfredo Becerra
Leonardo Soto Tovar
Co-CEOs, Kartel Music

Becerra says “without a doubt” that the greatest satisfaction for him and business partner Soto Tovar has been seeing their artist Luis R Conriquez achieve wide success. “We are a young company, we have only been in the industry for a few years, and no one can deny that we are making good noise,” he says. Over the last year, Conriquez had two No. 1s on the Regional Mexican Airplay chart, “JGL” with La Adictiva and “Si Ya Hiciste El Mal” with Jessi Uribe. They also attained what few would have imagined: helping Nicky Jam venture into regional Mexican music along with Conriquez on the song “Como El Viento.”

Dana Biondi
Label partner, G59 Records

In the last year, Biondi’s G59 Records has signed a multimillion-dollar distribution deal with The Orchard, as its top act, ­$uicideboy$, racked up 2.7 billion on-demand U.S. streams in 2022, with a new album expected this year. Meanwhile, Biondi reports the label’s touring division, which organizes the Grey Day Tour, has sold over 400,000 tickets, while its merchandise division brings in over $10 million annually. Besides $uicideboy$, upcoming projects include new music from Night Lovell and Shakewell, while Biondi says the 2023 Grey Day Tour will represent its biggest touring year ever.

Scott Borchetta
Founder/president/CEO, Big Machine Label Group; chairman of labels, HYBE America
Andrew Kautz
COO, Big Machine Label Group

Big Machine had several milestones to celebrate in the past year: Thomas Rhett’s “Half of Me” (featuring Riley Green) became his 18th Country Airplay No. 1 and 20th Hot Country Songs top 10 when it peaked last November, while Carly Pearce’s duet with Ashley McBride, “Never Wanted To Be That Girl,” became the first all-female collaboration to win best country duo/group performance at the Grammys in February. Meanwhile, up-and-comer Jackson Dean reached No. 3 on Country Airplay in November; another testament, Borchetta says, to the pride taken in “our roster as we continue to write pages in the genre’s history books.”

Ken Bunt
President, Disney Music Group

Among the company’s achievements over the past year, Bunt cites the DisneyMusic VEVO channel, which has racked up more than 32 million subscribers and over 27 billion views, and the introduction of “Vault Disney,” a new segment on the Disney Hits SiriusXM station featuring unreleased songs. The label’s Disney Hits playlists with partners Spotify, Apple Music, Amazon and YouTube Music also boast millions of followers. And in February, the label group partnered with Andscape to launch a new imprint, Good Company Records. In late May, the company released the soundtrack to the live-action remake of The Little Mermaid. “As Disney celebrates 100 years,” says Bunt, “music has been a vital part of the company’s history and continues to connect with fans around the world.”

Don Cannon
DJ Drama
Leighton “Lakeshow” Morrison
Co-founders, Generation Now

Generation Now enjoyed another fruitful year, courtesy of stars Lil Uzi Vert and Jack Harlow. In February, Uzi scored his seventh top 10 on the Billboard Hot 100 with his Jersey Club hit “Just Wanna Rock,” which also soared to No. 1 on the Hot Rap Songs chart after becoming an adopted anthem for the Philadelphia Eagles’ Super Bowl run. Harlow netted his third top 10 on the Billboard 200 and first No. 1 on Top Rap Albums with Jackman. “It’s always our goal to continue to outdo ourselves,” says Morrison.

Thomas Coesfeld
CFO/CEO-designate, BMG
Thomas Scherer
President of repertoire and marketing New York and Los Angeles, BMG
Jon Loba
President, BMG Nashville

Coesfeld, who will take over as BMG CEO from Hartwig Masuch in July, had already played a major role in the German music company’s steady growth in past years. A keen advocate for technology’s role in improving digital collections for artists and rights holders, Coesfeld was key in the 45 rights acquisitions BMG made last year, which he calls “the most dramatic development at BMG in the past 18 months.” His next target: to make BMG generate a billion euros in revenue, a goal the company says it is already ahead of schedule in achieving.

J. Cole
Co-founder/partner, Dreamville
Ibrahim “Ib” Hamad
Co-founder/partner, Dreamville; manager (J. Cole); president, Dreamville Records
Adam Roy
Co-founder/partner, Dreamville; president, Dreamville Festival/Dreamville Apparel

The Dreamville team surpassed all-time highs with this year’s Dreamville Festival, attracting over 100,000 attendees from 23 different countries over the event’s two days. The annual gathering, which took place in Cole’s home state of North Carolina, sold out in record time, says Roy. Meanwhile, Dreamville Records’ J.I.D. released The Forever Story, accumulating 300,000 U.S. equivalent album units to date. “It has been a beautiful experience to have seen my friends and I come together years ago to build something authentically all our own,” says Roy.

Tomas Cookman
Founder/CEO, Industria Works/Nacional Records

This year’s online Latin Alternative Music Conference, which Cookman founded, became the most watched LAMC ever, according to the organizers, with over 580,000 unique viewers — four times more than in 2022. Additionally, Cookman’s label, Nacional Records, had over 1 billion streams and doubled its revenue for a second year in a row. Moreover, the booking and branding division of Industria Works has “grown exponentially,” the executive says. “Being independent is as strong as ever and continues growing. Resources, opportunities and an ever-changing and developing landscape allows real growth to happen.”

Mike Curb
Chairman, Curb/Word Entertainment

Curb Records announced in 2016 that it was acquiring Warner Music Group’s stake in Word Entertainment, but the company says it has finally consolidated the two teams in the past year. That synergy has helped the act For King & Country land its 19th top 10 on Christian Airplay in December with its take on “Joy to the World,” while We Are Messengers hit No. 1 on that chart for the first time in January 2022, and Lee Brice’s “Soul” reached No. 20 on Hot Country Songs.

Angel Del Villar
Founder/CEO, DEL Records

Del Villar is stoked by the global success that his act Eslabon Armado is having with the sierreño song “Ella Baila Sola,” a collaboration with Mexican singer Peso Pluma. The track, which first got big on TikTok, reached No. 4 on the Hot 100, becoming the first regional Mexican song to reach the top 10 on the chart. Eslabon Armado’s Desvelado album debuted at No. 6 on the Billboard 200, the highest-charting regional Mexican album ever, and the second such title to reach the top 10, after its own No. 9-peaking Nostalgia in 2022. “To me, it’s a huge statement for the group and DEL Records,” says Del Villar. “This is not ‘música regional Mexicana,’ it’s música global Mexicana.”

Brandon “Lil Bibby” Dickinson
George “G-Money” Dickinson
Peter “Pete” Jideonwo
Partners, Grade A Productions

The label commemorated the life and legacy of its late marquee artist, Juice WRLD, with its second Juice WRLD Day in his hometown of Chicago on Dec. 8, 2022. “The event was an emotional celebration of life, allowing us to sell out the United Center for the second year in a row,” says Jideonwo. Grade A Productions has also expanded its roster by adding two artists, Zzz. and Rocco. “We look forward to being able to push our new acts forward,” he adds, “as well as continue to spread Juice’s message of hope and positivity.”

Seth England
Partner/CEO, Big Loud
Craig Wiseman
Partner/songwriter, Big Loud
Joey Moi
Partner/president of A&R/producer, Big Loud
Stacy Blythe
Senior vp of radio promotion, Big Loud Records
Candice Watkins
Senior vp of marketing, Big Loud Records

With the massive success of Morgan Wallen’s One Thing at a Time — which spent 12 straight weeks at No. 1 on the Billboard 200 — the year “has already exceeded expectations for us,” England says. But it’s not just Wallen: HARDY’s The Mockingbird & The Crow became his first top five album on the chart when it peaked at No. 4 in February, while the company is nurturing new artists like Jake Worthington, Lauren Watkins, Griffen Palmer and Ashley Cooke. “I’m more proud than ever of our label, management and publishing teams and excited about what the rest of this year will bring,” says England.

Daniel Glass
Founder/president, Glassnote
Chris Scully
CFO/GM, Glassnote

Glassnote has never been a stranger to the Grammys, having celebrated past wins with stars like Mumford & Sons, Phoenix and Childish Gambino. Over the last year, the label proudly notched another Grammy success, with its first Latin music signee, Silvana Estrada, who won best new artist at the 2022 Latin Grammys. Estrada broke into the Latin music world with her critically acclaimed debut album, Marchita, as well as her first sold-out U.S. and European tours.

Michael Goldstone
Founder/co-owner, Mom + Pop
Thaddeus Rudd
Co-owner, Mom + Pop

A fixture in indie rock and indie pop since its 2008 founding, esteemed label Mom + Pop had continued success in 2023 with new albums from veteran stars like Tegan and Sara and the band Lucius; more recently established hit-makers Beach Bunny and Caamp; and a well-received debut from TV star turned indie-folk singer-songwriter Maya Hawke, who has generated 35 million on-demand streams in the United States. “Our artists repeatedly garner critical acclaim,” co-owners Goldstone and Rudd said in a statement, adding that the label’s roster “continues to expand in our 15th year, with recent signings of Goth Babe, underscores and Magdalena Bay.”

Yo Gotti
Founder, CMG

Despite several setbacks, including recent jail sentences for its artists Mozzy and 42 Dugg, CMG continues to ascend the hip-hop circuit with successes from rising stars GloRilla and EST Gee. The latter earned his fourth top 10 on the Top R&B/Hip-Hop Albums chart with his mixtape MAD in April, while the former netted a No. 1 on Mainstream R&B/Hip-Hop Airplay with “FNF (Let’s Go)” (with Hitkidd) and secured a Grammy nomination in January. “It has been amazing to see her success,” Gotti says.

Elliot Grainge
Founder/CEO, 10K Projects
Zach Friedman
Tony Talamo
Co-presidents, 10K Projects

In 2022, 10K Projects welcomed Ice Spice to its client roster, with Talamo calling the rapper “without a doubt the most exciting new artist to come onto the scene in recent memory.” He adds, “In just a few short months, she has gone from ‘Munch’ to the Met Gala and has made chart history along the way. We’re thrilled to be working with her.” The Los Angeles-based label also maintains a roster of over two dozen artists, including Trippie Redd, Rich Amiri, iann dior and Internet Money.

Jimmy Humilde
Founder/president/CEO, Rancho Humilde

After only five years in the market, Rancho Humilde has placed 18 titles on Top Latin Albums, including six top 10s, and 41 tracks on Hot Latin Songs, including seven No. 1s. This year, the label gained even more popularity by placing six songs on the Hot 100, including tracks by stars Natanael Cano and Fuerza Regida, and one where Humilde is credited as producer — part of a surge of new regional Mexican music that has hit the charts. “If you’re not focused on Mexican music right now, I suggest you do,” says Humilde, who also opened new offices in Paramount, Calif., where his hero, slain corrido singer Chalino Sánchez, used to live.

Gordon Kerr
President/CEO, Black River Entertainment
Rick Froio
Executive vp, Black River Records

Black River stressed the continued importance of its publishing division in the past year while working to break new artists and songwriters such as Ray Fulcher, Pryor Baird and MaRynn Taylor, the lattermost of whom was named one of CMT’s Next Women in Country in January. Meanwhile, Kelsea Ballerini just recently passed 3 billion on-demand streams in the United States alone, and Froio says “her star has never been brighter.”

Allen Kovac
Founder/chairman, Better Noise Music
Dan Waite
CEO, Better Noise Music
Steve Kline
President/COO, Better Noise Music

Founded in 2006 by indie pioneer Kovac, leading rock label Better Noise Music recently elevated its founder from CEO to chairman, promoted Waite to CEO and added a president title for longtime COO Kline. Thanks to strong releases by Five Finger Death Punch, Dirty Heads, The HU, Asking Alexandra, Bad Wolves and Nothing More, “Better Noise Music has been the No. 1 mainstream rock label in two of the past three years, it’s the No. 1 Billboard mainstream rock imprint,” Kovac says, “and we’re continuing to grow our international cumulative sales through our global offices.”

Rell Lafargue
President/COO, Reservoir

In 2021, Reservoir secured De La Soul’s back catalog by acquiring the Tommy Boy Music label, then worked with the pioneering hip-hop group to finally bring its first six albums to streaming platforms. The March 3 streaming debut coincided with the 34th anniversary of the group’s 1989 album, 3 Feet High and Rising. “I am so proud of Reservoir’s commitment to enhancing the value of their music and legacy,” Lafargue says. “This was a long-awaited moment for fans and a huge opportunity to cultivate a new generation of De La Soul listeners.”

Federico “Fede” Lauría
President, Dale Play Records

Dale Play — home to Argentine stars such as Nicki Nicole, Bizarrap, Duki and Spanish rapper Rels B — is developing its artists for the global stage: Duki sold out his first U.S. tour in less than 24 hours, Lauría says, while Bizarrap became the first Argentine artist in history to reach No. 1 on Billboard’s global charts, a feat he achieved in the last year with “Quevedo: Bzrp Music Sessions, Vol. 52.” “In 2022, Dale Play Live sold more than 1 million tickets, developing the most important tours in South America, such as Bad Bunny, Daddy Yankee, Karol G, Camilo, Maluma and Nathy Peluso,” says Lauría. “With offices in Buenos Aires, Madrid, Miami and Mexico City, Dale Play continues to expand globally.”

Gustavo López
CEO, Saban Music Latin

Since launching Saban Music Group’s new Latin division last year, Lopéz says he has prioritized establishing Saban Music Latin as a “major player” in the Latin music industry. The company’s globe-spanning roster includes Loyal Lobos from Colombia, Mexican artist Yubeili, Puerto Rican singer-songwriter Chesca and reggaetón titan Don Omar. This year, the “Dale Don Dale” singer celebrates 20 years since releasing his debut album, The Last Don, which peaked at No. 2 on the Top Latin Albums chart in 2003. Omar will release his new album, Forever King, in June.

Justin Lubliner
CEO, The Darkroom

Thanks to Billie Eilish and a pair of recent major signings — Riovaz (in partnership with Geffen) and d4vd (in partnership with Interscope) — The Darkroom keeps carving out significant space in alternative music with newcomers. In May, d4vd — who signed to the label last August and has already scored two Hot 100 entries with “Here With Me” and breakout hit “Romantic Homicide” — released his debut EP. And in August, Eilish will deliver her latest headlining performance at Lollapalooza Chicago.

Laura Lyons
Head of U.S. campaigns, XL Recordings/Young

With the help of Lyons and her XL staff, The Smile, a side project from Radiohead’s Thom Yorke and Jonny Greenwood, put out its debut, A Light for Attracting Attention, last year, and at Coachella in April, electronic music producer Jai Paul gave his first-ever live performance. On the Young label, Romy released the streaming hits “Strong” and “Enjoy Your Life,” and Jamie xx continued his solo career with “Kill Dem.” “We were privileged to work with artists who are evolving and innovating their creativity,” says Lyons, whose labels are part of Beggars Group.

David Macias
Co-founder/president, Thirty Tigers

Over the past year, Thirty Tigers has formed working relationships with established acts including The Smashing Pumpkins, Metric and The Gaslight Anthem and newer ones including Durry, Yoke Lore and Husbands. “As a company, I’ve been energized by the significant growth we’ve seen in the rock and alternative genres in the past year,” Macias says. The growth builds on the company’s work over the past few years in bolstering its presence in global markets and bringing more international artists into the Thirty Tigers fold.

Chioke “Stretch” McCoy
Co-founder/managing partner/president, Blac Noize! Recordings
Charley Greenberg
Co-founder/managing partner/GM, Blac Noize! Recordings
Tony Bucher
Co-founder/managing partner/COO, Blac Noize! Recordings

After partnering on their new R&B/hip-hop label venture in May 2022, indies Blac Noize! and Big Machine Label Group hit the jackpot. The company signed “ ‘F.N.F. (Let’s Go)’ from Hitkidd and GloRilla the day after its release, and [it] became the song of the summer for 2022,” says Greenberg. The viral TikTok smash not only reached No. 1 on the Mainstream R&B/Hip-Hop Airplay chart, but the artists’ platinum-certified breakthrough racked up Grammy and other award nominations. Blac Noize! is also “riding high” off the recent signing of buzzing new Florida rapper Jdot Breezy, notes Greenberg.

Martin Mills
Chairman, Beggars Group
Nabil Ayers
President U.S., Beggars Group
Claire Taylor
GM U.S., Beggars Group
Simon Halliday
Worldwide managing director, 4AD
Melanie Sheehan
GM U.S., Rough Trade Records

Over a year after Taylor and Ayers took on their current roles, Taylor says, “We’ve seen the Beggars office expand with new hires and internal promotions across streaming, product management, marketing, content, sales, licensing and operations.” Sheehan touts the success of Rough Trade’s black midi, which “play to bigger and bigger crowds,” while Halliday has “been thrilled with the emergence of Big Thief as an undeniable global force.” “Resisting the din of trends and instant satisfaction is a challenge,” Halliday adds, “so recently seeing the Cocteau Twins reconnecting with a young demographic and being at their most impactful for 20 years shows us that quality and true originality always shines through.”

Sean Miyashiro
Founder/CEO, 88rising

Miyashiro is especially proud of 88rising’s growth in live music, as the label’s Head in the Clouds Festival has expanded to Jakarta, Indonesia, and Manila, Philippines, helping it become the world’s largest Asian music festival, he says. In April, its Head in the Clouds Forever showcase scored a main-stage set at Coachella, and in May, 88rising added “our first Head in the Clouds Festival in New York, a sold-out Joji headline show at Madison Square Garden and a [nearly] sold-out Jackson Wang headline [show] at Barclays Center,” he says. “88rising was first dreamed of in New York, so this has been a surreal, full-circle moment for our company.”

Jeremel “Daddy O” Moore
CEO, Paper Route Empire

Since the untimely death of Young Dolph in 2021, Paper Route Empire has forged ahead. First, the company released Dolph’s posthumous album, Paper Route Frank, in December; it debuted at No. 25 on the Billboard 200. Then it partnered with the Trap Museum to announce Dolphland, a pop-up museum tour that stopped in New York, Dallas, Los Angeles, Chicago and Atlanta. Meanwhile, Dolph’s protégé, Key Glock, maintained his momentum with his third album, Glockoma 2, in February, which debuted at No. 13 on the Billboard 200. “We are proud of the hard work that everyone has put in to keep Young Dolph and the Paper Route Empire legacy alive,” Moore says.

Brian Nolan
President of global marketing and synchronization, APG

Since taking on his new role in January, Nolan has expanded the company’s reach with movie franchises and sports, most notably with the Fast X soundtrack — whose trailer version of “Angel Part 1” by Jimin featuring Kodak Black, NLE Choppa, Muni Long and JVKE was released in May — and Flo Rida’s “What a Night,” which landed a synch in ESPN’s season-long baseball coverage in 2022. APG’s partnership with Cactus Jack’s Chase B led to the long-awaited release of the song “Ring Ring” featuring Travis Scott, Quavo, Don Toliver and Ty Dolla $ign, which had been rumored for years.

Jamie Oborne
Founder/CEO, Dirty Hit

U.K. indie label Dirty Hit had a banner 2022, which Oborne called “our best on record.” One highlight came from flagship band The 1975, which kicked off a headline-grabbing world tour and released its Billboard 200 top 10-charting fifth album, Being Funny in a Foreign Language, its first without major-label support from Interscope. “It was the first year that we ran The 1975 100% independently and, in turn, saw record performances for the band across streams, ticket sales and radio globally,” says Oborne, who also cites the “global success” and growth of artists beabadoobee and Rina Sawayama as additional 2022 wins for the expanding label.

Lynn Oliver-Cline
Founder/owner, River House Artists
Zebb Luster
Vp/GM, River House Artists

River House’s past year has been buoyed by its March deal with Warner Music Nashville/Elektra, and the first joint-venture artist, Austin Snell, already having scored 37.8 million on demand streams in the United States, with 26.1 million of those collected in 2023 alone. Flagship artist Luke Combs just snagged a Hot 100 top 10 hit with his take on Tracy Chapman’s “Fast Car,” and River House’s publishing division has stayed in high gear: Ray Fulcher landed a Country Airplay No. 1 with Combs’ “Going, Going, Gone,” and Drew Parker earned a Grammy nomination for Combs’ “Doin’ This.”

Jonathan Poneman
Co-founder/co-president, Sub Pop
Tony Kiewel
Co-president, Sub Pop
Megan Jasper
CEO, Sub Pop

The well-known Seattle-based indie label turned 35 this year, “and while we’re incredibly proud of all that we’ve accomplished during those three-and-a-half decades, we find ourselves most excited by what’s happening right now,” says Kiewel. Upcoming debut projects from new artists Debby Friday, Hannah Jadagu and waterbaby, “as well as epic releases from Northwest stalwarts Mudhoney, Built To Spill and Quasi,” are on the horizon, while continued success for longtime Sub Pop acts like Beach House, Bully, Suki Waterhouse, Weyes Blood and Father John Misty have kept the label in prime form.

Bonnie Raitt
Annie Heller-Gutwillig
Kathy Kane
Co-directors, Redwing Records

It has been a banner year for Redwing and an excellent one for Raitt, who took home three Grammys in February, including the coveted song of the year trophy for “Just Like That.” The awards are wonderful, she says, but it starts with the music and the ability to release it to the world. “It’s crucial to ensure that the right marketing and promotion, manufacturing and physical distribution are in place, all while continuing to navigate the growing streaming community,” she says. “Add to that the hard work and coordination that putting together a two-year tour involves, I couldn’t be more grateful and proud of the job my small but mighty Redwing and extended team continue to do.”

Ricky Reed
Founder/CEO, Nice Life Recording Co.
Larry Wade
Co-owner/COO, Nice Life Recording Co.
Bradley Haering
President, Nice Life Recording Co.

Despite its small size, Nice Life has proved to be a big force within the music industry. Star client Lizzo won an Emmy and a Grammy in the last year for her work on reality show Lizzo’s Watch Out for the Big Grrrls and her song “About Damn Time,” respectively. The Marías, meanwhile, were surprise guests with Bad Bunny at Yankee Stadium and performed their single “Otro Atadecer.” Along with expressing how proud he is of his artists and team members, Reed adds that Nice Life is far from finished, noting: “We look forward to continuing to bring the next generation of important voices into the conversation.”

Ramón Ruiz
Co-founder/CEO, Lumbre Music

In the two years that Lumbre Music has been operating as a record label, the regional Mexican music company has made big waves. Lumbre signed rising stars Yahritza y Su Esencia, whose “Frágil” (with Grupo Frontera) recently made the Billboard Global 200 chart. “Through strategic partnerships, we continue to expand and build our roster with strong talent like Yahritza y Su Esencia, who are two-time Latin Grammy-nominated artists and one of the most viral artists out there,” says Ruiz, who signed Omar Rodriguez, Nivel Codiciado and Christian Lara this year. The executive, who is also the accordionist of trailblazing corridos verdes group LEGADO 7, adds, “[There’s] nothing better for us as proud Mexican Americans than continuing to move this culture to the next level.”

Jon Salter
President/head of A&R, ATO Records

In April 2022, ATO released Old Crow Medicine Show’s Paint This Town, a No. 1 on Bluegrass Albums that marked the band’s return to the label after a stint at Columbia. Six-time Grammy-nominated act Black Pumas just wrapped up the recording of their next studio album, a project that Salter calls “very special and stunning.” The label is also excited about emerging U.K. act The Heavy Heavy, which has already had two tracks reach the top 10 at triple A radio, including its latest, “Go Down River.”

Luis Sánchez
Co-founder/CEO, AfinArte Music

Sánchez cites the success of the label’s artists on the Billboard charts, with top 10 hits from El Fantasma and Los Dos Carnales on Regional Mexican Airplay as a highlight of the past year. Gerardo Díaz also sold out a 120-show tour in the United States and Mexico, Sánchez says, with U.S. on-demand streams passing 521 million and videos exceeding 200 million views on YouTube. “My team and I have an impeccable reputation for the discovery and development of promising new talent into a highly curated, award-winning roster that has racked up billions of streams and YouTube views,” Sánchez says.

YJ Shin
President, BigHit Music

Even with BTS ceasing group activities in 2022, HYBE label BigHit Music scored with the group’s BTS: Permission To Dance on Stage in Las Vegas, along with the BTS Yet To Come concert in Busan, South Korea. The label also released solo projects from J-Hope, RM, Jin and Suga, with Jung Kook participating in “Dreamers” on the FIFA World Cup Qatar 2022 Official Soundtrack, “touching the hearts and souls of hundreds of millions worldwide,” says Shin. And Tomorrow x Together’s EP Minisode 2: Thursday’s Child charted on the Billboard 200 for 14 weeks, with the group wrapping up its first world tour.

Paul Sizelove
President, Gaither Music Group

Gaither Music Group “has experienced tremendous, steady growth” in the past year, Sizelove says. Contributing to the progress has been the music company’s creation of new TV specials, as well as recordings from artists such as Whitney Houston and Reba McEntire through parent company Primary Wave, which have broadened Gaither’s catalog and audience. But that’s not all. “We have expanded the Gaither presence on digital streaming platforms, surpassing 3 million subscribers and 3 billion views to our Gaither TV YouTube channel,” Sizelove says. “I am very proud of our team and the way we have all come together to maximize numerous initiatives.”

Wassim “Sal” Slaiby
Founder/CEO, XO
Amir “Cash” Esmailian
La Mar C. Taylor
Abel “The Weeknd” Tesfaye
Co-founders, XO
Melissa Mahood
GM, XO

In addition to its ongoing humanitarian efforts, XO maintained a constellation of star artists that all revolved around the sun at the company’s center, The Weeknd. In March, Guinness World Records named the singer the statistically most popular musician on the planet, and the artist also set new records at Spotify with his “Blinding Lights,” which clocked the most monthly listeners and highest streams of any song in history on the platform. “Our proudest achievements have been exemplified by our artists,” says Mahood, “who continue to redefine and set the standard for what global artistry truly means.”

So Sung Jin
CEO/master professional, Source Music

Girl group specialty label Source Music, which HYBE predecessor BigHit Entertainment acquired in 2019, is the force behind Le Sserafim, which released two international EPs, a Japanese EP and its first studio album, Unforgiven, all in the past year. Spearheading the quintet’s development has been Sung Jin, who believes “music with a clear source and reason can resonate with the listener’s emotions.” After Le Sserafim’s second EP, Antifragile, reached No. 14 on the Billboard 200, Unforgiven landed at No. 6 on the chart, marking the group’s highest entry yet.

Sung Su Lee
Chief A&R officer, SM Entertainment
Tak Young Jun
COO, SM Entertainment
Dom Rodriguez
Senior vp/head of SM Entertainment USA, SM Entertainment

Amid a corporate takeover battle for SM earlier this year, the quartet aespa sold 1.7 million copies worldwide of its latest release, MY WORLD, the highest first-day sales by a K-pop girl group, according to SM. Each member has her own digital avatar and is part of the SM Culture Universe, a fictional realm likened to the Marvel Cinematic Universe. “As we move into a new era for the company — what we are calling ‘SM 3.0,’ ” says Tak, “we are looking forward to pushing the boundaries with K-pop even further and reaching new fans around the world.”

Ben Swanson
Co-founder/COO, Secretly Group
Chris Swanson
Co-founder/president of A&R, Secretly Group
Nick Blandford
Managing director, Americas, Secretly Group
Phil Waldorf
Co-founder/chief marketing officer, Secretly Group
Jon Coombs
Vp of A&R, Secretly Group
Kraegan Graves
Vp of operations, Americas, Secretly Group
Hannah Carlen
Senior director of marketing and communications, Secretly Group

Despite an uncertain economy, “Secretly Group continues to add staff, and thus services, to support our roster of artists,” says Waldorf. That roster spans four celebrated record labels (Dead Oceans, Jagjaguwar, Saddest Factory Records and Secretly Canadian) and includes rising talents (MUNA, Wesley Joseph, Wednesday), contemporary trailblazers (Phoebe Bridgers) and indie icons such as Yeah Yeah Yeahs, whose 2022 album, Cool It Down, hit No. 3 on the Top Alternative Albums chart and earned a Grammy nod for best alternative music album. “From a robust activations team, to expanding our data and analytics department, to adding staff to our international offices and growing our creative department, we are able to execute campaigns at the highest level,” Waldorf says.

Chris Taylor
President/CEO, MNRK Music Group

After a big 2021 — when the Blackstone-backed SESAC took over MNRK, changed its name from eOne and sold the Death Row catalog — the music company got back to business as usual: putting out records like the March release of DJ Drama’s long-awaited album, I’m Really Like That. Featuring such artists as Tyler, The Creator, Lil Baby, Roddy Ricch and Jack Harlow, the project benefited from a marketing campaign that Taylor says is “a testament to the work a focused indie label can do.” As of May 4, he says, the album’s songs have already topped 75 million streams globally.

Pierre “P” Thomas
CEO, Quality Control Music
Kevin “Coach K” Lee
COO, Quality Control Music

Broadening their horizons through what Thomas calls the company’s “game-changing merger with HYBE,” Quality Control has continued to dominate in hip-hop with Lil Baby’s third album, It’s Only Me, hitting No. 1 on the Billboard 200 and Lil Yachty’s psychedelic alt-rock album, Let’s Start Here, peaking at No. 9 and earning him a musical guest slot on Saturday Night Live. Yung Miami also launched her REVOLT talk show, Caresha Please. But the HYBE deal “will shift our path moving forward in a global and vast way,” Thomas says.

Anthony “Top Dawg” Tiffith
CEO, Top Dawg Entertainment

This past year was a successful one for Top Dawg, as the label released two major albums: Kendrick Lamar’s Mr. Morale & The Big Steppers and SZA’s SOS. Both peaked at No. 1 on the Billboard 200, with the latter ruling the chart for 10 weeks. And the label keeps finding new stars: Doechii, who was named Billboard’s 2023 Women in Music Rising Star, also scored her first Hot 100 entry with the Kodak Black-assisted “What It Is (Block Boy)” in partnership with Capitol.

Jill Weindorf
GM, Concord Label Group
Andrew Woloz
Vp of streaming, Concord Label Group
Margi Cheske
President, Fantasy Records
Andy Serrao
President, Fearless Records
Ryan Whalley
President, Loma Vista Recordings

International markets have powered Concord’s growth for the past 18 months as the company’s labels have expanded global marketing teams and built infrastructure to provide artists with more support. “In addition to bolstering our U.K. operation, we’ve strengthened our European marketing services in Germany, Spain and France; added a dedicated team in Mexico; and established a new Concord office in Australia,” Weindorf says. “As a result, we are signing artists from all over the world and offering a truly global marketing platform to help build and enrich our artists’ careers.”

Fiona Whelan-Prine
President, Oh Boy Records
Jody Whelan
Managing partner, Oh Boy Records

For Whelan, one of the highlights of the past year is how his family’s Hello in There Foundation — launched after the death of his father, Oh Boy co-founder John Prine, to honor Prine’s legacy by supporting marginalized people and those in need — has hit full stride. “We’ve been able to raise hundreds of thousands of dollars for charities and organizations we support,” Whelan says. Another point of pride: the indie label’s nomination for one of A2IM’s 2023 Libera Awards label of the year honors.

Jack White
Founder/owner, Third Man Records

White has been at the forefront of the extended record run for vinyl, as the format grows for a 17th consecutive year. He’s also advancing it, prioritizing sustainable growth by “pioneering artist-owned pressing plants, as well as challenging the major labels to build their own plants again,” as he did with Third Man Pressing in Detroit. As for Third Man Records as a whole, he’s most proud of building the facilities to be a one-stop shop, “creating an all-encompassing creative world that includes live-to-vinyl recording, photo developing, recording booths in our record shops, book publishing, video production, vinyl plant pressing, direct-to-consumer mail order, a vinyl vault subscription club and more.”

Bryan “Birdman” Williams
Ronald “Slim” Williams
Co-founders/co-CEOs, Cash Money Records

After more than 25 years, Cash Money is one of the music industry’s long-standing indie bastions. Building its foundation and reputation with a formidable roster of hip-hop icons such as Juvenile, Lil Wayne, Drake and Nicki Minaj, the label is nurturing its next generation of stars, including R&B singer-songwriter Jacquees and recent rap signees Eighty8, Onsight Deeda and Saxkboy KD. In October, the brothers were the recipients of the Living Legends Foundation’s lifetime achievement award, and after so much time in the game, Cash Money remains “one of the only independent record labels to still be relevant, active, releasing new music and signing new artists,” Slim says. “We’re very proud of our place in hip-hop culture and within the music business overall.”

Paris Cabezas
Ana Gonzalez
Managing partners, InnerCat Music Group
Garrett Schaefer
GM, InnerCat Music Group

InnerCat’s capabilities go well beyond providing distribution and label services. The company spearheaded the global digital campaign for Marc Anthony’s album Pa’lla Voy through its in-house agency and launched its own music-centric content management system using SalesForce, for instance, and introduced Alkatraks, a label with producer Maffio, as well as InnerCat Studios and InnerCat Films, a full-service film and video production division. All told, revenue grew by 27% compared with the previous year, according to InnerCat, while the launch of the studios and film divisions “complete our vision to be a full-service artist development company — the perfect celebration of our 10th anniversary,” says Schaefer.

Barry Daffurn
Co-founder/president, Cinq Music Group
Jason Peterson
CEO, GoDigital Media Group

The Cinq Music Group and GoDigital Media Group partnership raised $100 million for global investments in catalogs and new original content, such as the “opening of a Nashville office and the purchase of our first country catalogs,” says Daffurn. On the regional Mexican side, Cinq Music continues to distribute and launch successful acts including Natanael Cano, Luis R Conriquez, Carin León, Fuerza Regida and DannyLux, to name a few. Additionally, Daffurn says the companies have “increased our revenue by 30% and grown our workforce by 25% year over year,” adding, “We look forward to continuing this unprecedented growth for years to come.”

Kenny Gates
Founder/owner, [PIAS] Group

Gates has much to celebrate as [PIAS], the company he helped found with Michel Lambot, turns 40. [PIAS] says it grew profits in 2022 — it most recently reported a profit of 558,000 pounds ($694,000) in 2021 — thanks to releases from Beach House, Father John Misty, Lykke Li and others. Its [Integral] platform, which handles distribution for some 100 indie-label partners, added clients like Chandos, while existing clients released chart-topping albums from Wet Leg, Fontaines D.C., Placebo and more. And [PIAS] sold a 49% stake to Universal Music Group, while Gates and Lambot won the 2022 Indie Champion award from A2IM.

Ghazi
Founder/CEO, EMPIRE
Nima Etminan
COO, EMPIRE
Tina Davis
Senior vp of A&R, EMPIRE
Michael Gallegus
Senior vp of business and legal ­affairs, EMPIRE
Jonathan Jules
Vp of international marketing and operations, EMPIRE

“This past year, we’ve expanded our team around the globe throughout the African continent, Europe, Asia, North America and South America, leading us to continue the growth and development of artists in those markets,” says Etminan. Part of that global expansion involved flying in the roster’s African acts like Fireboy DML, Olamide and Asake for a songwriting camp at EMPIRE’s San Francisco headquarters. EMPIRE also expanded into EDM with the acquisition of the dance label Dirtybird in October 2022, Etminan adds, and its publishing division established a joint venture with Hit-Boy’s Surf Club collective in January.

JT Myers
Nat Pastor
Co-CEOs, Virgin Music Group
Jacqueline Saturn
President, Virgin Music
Jeff Cuatto
Interim CEO, Ingrooves Music Group

Since consolidating as a single independent distribution division in September, Virgin Music Group has “seen incredible shared alignment, vision and purpose,” says Pastor. Among the wins: Eslabon Armado’s history-making single, “Ella Baila Sola” with Peso Pluma, which in April became the first regional Mexican track to hit the top five of the Hot 100; Rema’s “Calm Down” with Selena Gomez, which entered the top five of the Hot 100 in May; and top five Billboard 200 placements for K-pop stars Tomorrow X Together (which hit No. 1), TWICE, Jimin, Agust D and Seventeen.

Marylu Ramos
CEO, Oplaai

In the past year, independent music distributor and label services company Oplaai made an impact in the regional Mexican genre by developing artists like Carin León, one of the most streamed acts on Spotify, whose videos have surpassed 2 billion views on YouTube. The company’s revenue increased by 70% in the past year, says Ramos, who in 2022 launched Oplaai Publishing and added publishing administration to its suite of services. Among the recent acts signed to Oplaai are Cuatro de Oro (with former members of Marca MP), Edgardo Nuñez and Chuy Lizarraga, who reached No. 2 on Regional Mexican Airplay with “Partido en Dos.”

Camille Soto Malavé
CEO, GLAD Empire

In addition to expanding its recording facilities in Orlando, Fla., GLAD Empire also secured “multimillion-dollar” deals for its marquee clients, including Nio García. The Puerto Rican artist was previously signed to the independent label Flow la Movie, but after its founder, José Angel Hernández, died in a December 2021 plane crash, García’s future was in limbo. “I was able to save Flow la Movie’s catalog from a probate disaster after joining forces with the [estate’s] true heir, Hernández’s daughter,” Soto Malavé says. “We were able to secure Nio’s release from the company to keep working.”

Pieter van Rijn
President, Downtown Music
Ben Patterson
COO, Downtown Music Services
Christiaan Kröner
President, FUGA
Scott Williams
President, CD Baby
Christine Barnum
Chief revenue officer, CD Baby

“Our continued goal to position Downtown as a global leader in strategic music services has achieved significant milestones,” says van Rijn, pointing to unifying the company’s brands into three divisions — distribution services (FUGA), artist/label services and publishing services — and acquiring the royalty platform Curve. Kröner is excited by “FUGA’s rapid international expansion” across the Asia-Pacific region, Latin America and Europe, and Barnum notes that CD Baby’s partnership with the payment platform Trolley “resulted in a reduction of transaction costs by 40%” and helped “our artist clients be paid efficiently.” Patterson is “particularly proud” that Downtown’s investment in Mexican music is paying off “for clients like Natanael Cano’s Los CT Records signing Gabito Ballesteros, Los Tucanes de Tijuana and Prajin Publishing’s Peso Pluma.”

Emmanuel Zunz
Founder/CEO, ONErpm

Over the last two years, ONErpm continued “consolidating our position as a truly global music company,” Zunz says, adding 19 offices across Asia, Australia, Africa, South America and Europe, while its new facility in Guadalajara, Mexico, also features a full recording studio. Additionally, the company launched Amplifier, proprietary marketing-campaign management software that allows artists and teams to work with ONErpm in real time. It has all been good for the indie’s business: According to Zunz, ONErpm doubled its revenue over the last two years.

Andreea Gleeson
CEO, TuneCore

Since Gleeson became CEO in August 2021, the company has overhauled its pricing structure from a per-release fee model to flat annual fees for unlimited releases. The company also continues to grow, with collections from digital service providers (DSPs) on behalf of its artist clients, combined with the fees the artists pay the company, totaling 475.6 million euros ($503.2 million) for the year ended Dec. 31, 2022, up 12% from the prior year. In all, the company says it has paid out $3 billion in artist collections since its 2006 inception, while Gleeson has implemented new products and tools into what she describes as a “comprehensive suite of services.”

Michael Howard
Director of operations, Redeye
Laura Pittard
Director of marketing, Redeye
Hank Stockard
Director of business development, Redeye

Redeye set its sights globally throughout 2023, emphasizing growth in Europe and Latin America while building a diverse roster of cross-genre independent labels. The distribution group has also worked to guide its labels in the changing retail landscape, helping them navigate new production timelines and marketplace demands while collaborating with their retail partners for sales and marketing opportunities, both in a still-thriving physical world and an increasingly important digital one.

Philip Kaplan
Founder/CEO, DistroKid

Over the past year, Kaplan and the DistroKid team have been growing the distribution company into a one-stop shop for DIY artists. “DistroKid’s mission is to help artists be prolific,” Kaplan says, and to do that, he has overseen the launch of a DistroKid app as well as mastering service Mixea and music video distribution service DistroVid. With the addition of these tools in the last year, DistroKid can boast that it distributes “around 30% to 40% of all new music in the world.”

Cat Kreidich
President, ADA Worldwide
Samantha Moore
Head of business operations and ­development, ADA Worldwide
Adriana Sein
Global head of artist and market development, ADA Worldwide
Andrea Slobodien
Head of product and integration, ADA Worldwide
Cathy Bauer
Head of physical sales and marketing, ADA Worldwide
MaryLynne Drexler
Head of business and legal affairs, ADA Worldwide

With the help of global distribution partners such as Africori (in Africa), Qanawat Music (in the Middle East) and others in Japan, Latin America and Europe, the Warner Music-owned Alternative Distribution Alliance has become the “go-to partner for next-generation talent,” Kreidich says. She cites emerging global stars like U.K. rapper Central Cee and Spanish singer-rapper Quevedo, as well as regional chart successes by German artist AYLIVA and French-language rapper Hamza: “We’ve been able to really tap into these local forces to get results for our artists and labels.”

JR Mckee
Founder/CEO, MPR Global
Drew de Leon
President, MPR Global; co-founder/chief community officer, The Digilogue

In the past year, MPR broke Muni Long’s slow-burning hit, “Hrs and Hrs.” The song peaked at No. 16 on the Hot 100 and won a Grammy for best R&B performance earlier in 2023, which Mckee calls “a major achievement for us at MPR,” the marketing firm he founded in 2021. “For a new company and a new artist to have a song become one of the most streamed in the world and then go on to win a Grammy in [one year] of being in business is a one-in-a-million outcome,” he says.

Glenn Mendlinger
President, Imperial Music; executive vp, Republic Records

Along with helping manage the careers of rising talents like Bo Burnham and G Herbo, Imperial has helped K-pop acts like Stray Kids, TWICE, Tomorrow X Together and iTZY find their foothold in the American mainstream. In the last 18 months, the Republic imprint has had three albums from its K-pop roster — Tomorrow X Together’s The Name Chapter: Temptation and Stray Kids’ Maxident and Oddinary — hit No. 1 on the Billboard 200 thanks to what Mendlinger calls “bold and ambitious marketing plans that included radio, TV, pop-up fan activations and innovative and thoughtful digital plans.”

Brad Navin
CEO, The Orchard
Colleen Theis
President/COO, The Orchard
Mary Ashley Johnson
Executive vp of sales and artist and label management, U.S. and Canada, The Orchard
Alan Becker
Senior vp of artist and label ­partnerships, The Orchard

The Orchard was riding high at the end of 2022, enjoying its largest-ever U.S. market share, only to bound even higher in the opening months of 2023. The company, which took in over $1 billion in revenue in the last 12 months, “continues to expand its global reach with outposts and label partners in India, Indonesia, Kenya, Nigeria [and] South Africa, and has an enormous presence in the worldwide Latin music community,” Ashley Johnson says. Recent success stories for the Sony-owned company include RAYE, Peso Pluma, Kelsea Ballerini, Anuel AA, Phoenix, Jack White, Nas and Eladio Carrión — “all true indie success stories — all superstars,” says Ashley Johnson.

Lonny Olinick
CEO, AWAL
Pete Giberga
President U.S., AWAL
Paul Hitchman
President U.K., AWAL

Sony-owned indie distributor AWAL has worked some of the most compelling releases of the last year. From JVKE and Little Simz’s continued success to Lizzy McAlpine’s hit single, “ceilings” ­— a song that launched many thousands of TikToks — it all added up to a record year for the company, with $200 million in revenue. Other accolades for AWAL signees include Genesis Owusu’s four Australian Recording Industry Association Award wins, Spacey Jane’s No. 1 album in Australia and The Wombats’ U.K. No. 1 album.

Milana Rabkin Lewis
CEO, Stem
Kristin Graziani
President, Stem

In addition to Stem’s launch of its Royalty Services product late last year as an effort to simplify payments from indie labels, Graziani points out that the distribution and payments platform has rounded out its A&R and marketing services teams over the past 18 months. “We now have executives across all contemporary genres — country, rock and alternative, pop, hip-hop and R&B — that have signed and are working world-class projects,” says Graziani, who cites acts such as SAINt JHN, Justine Skye and LANY.

Eliah Seton
CEO, SoundCloud
Tracy Chan
Senior vp of creator, SoundCloud

Together, Seton and Chan announced SoundCloud’s global licensing deal with Merlin to help indie artists on their platform participate in fan-powered royalties, as well as a beta mode for new tool Fans, which helps artists discover their most devoted listeners through the fan-powered royalties model. “We’re committed to being artist-first, and that means giving artists the ability to connect directly with the people who listen to and support them,” says Chan.

Steve Stoute
Founder/CEO, UnitedMasters
David Melhado
Mike Weiss
Vps of music, UnitedMasters

Focused this year on the growth of its artist services team, UnitedMasters has expanded its roster to include Superstar Pride, BigXthaPlug, Ekkstacy, Veigh, Nickoog, Tobe Nwigwe and, most recently, Brent Faiyaz, a deal that “reinforces that our platform is well-positioned to empower independent artists at every step of their journey,” Stoute says. BigXthaPlug’s debut release, Amar, peaked at No. 1 on the Heatseekers Albums chart, while Nwigwe was nominated for best new artist at the 2023 Grammys.

Jonathan Strauss
Co-founder/CEO, Create Music Group
Alexandre Williams
Co-founder/COO, Create Music Group
Wayne Hampton
Co-founder/chief business development officer, Create Music Group

Create’s artists, labels and partners around the world have surpassed 14 billion streams a month across all DSPs, a number that Strauss says is a “testament to the power of a thriving independent music industry.” He points to Create’s partners, including Worldstar, which helped with the launch of red-hot rapper Ice Spice through her breakthrough singles, “Bikini Bottom” and “Munch (Feelin’ U).” In addition, the company’s media division, Flighthouse, passed 350 million followers and subscribers in 2022 while its publishing division also grew, with Create songwriters already contributing to three Hot 100 No. 1s in 2023, according to Create.

Dean Tabaac
Head, AMPED
Pip Smith
Vp of sales/GM, AMPED

The fast-growing indie distributor’s artists landed 26 Grammy nominations (and seven wins), as well as a slew of No. 1 albums from acts including Five Finger Death Punch, Childish Gambino, Weyes Blood and Mitski over the past 18 months, and more than 100 hits from the AMPED roster appeared across various Billboard charts in 2022, according to the company. In addition to supporting LGBTQ+ artists with a Pride sale carried by over 45 retailers, AMPED added to its family of labels by onboarding Lex Records, Proper Records and Mascot Records in 2022, as well as Firebird Music, Kurupt’s label Penagon and Irving Azoff’s Iconic Artist Group in 2023.

Darius Van Arman
CEO, Secretly Distribution
Chris Welz
COO, Secretly Distribution

Secretly is celebrating its 25th anniversary with some major wins, counting $90 million in annual sales and over 1 billion monthly streams across its catalog. The company — which has offices in New York, Los Angeles, London, Chicago and Bloomington, Ind., and serves all major global markets through its digital and physical distribution network — is, Welz says, also “extremely proud” of incorporating U.K. labels Chrysalis Records and Moshi Moshi Records into its roster while extending its partnerships with prestige indie imprints Captured Tracks, Run for Cover and Rhymesayers.

Contributors: Trevor Anderson, Rania Aniftos, Katie Bain, Alexei Barrionuevo, Starr Bowenbank, Dave Brooks, Anna Chan, Ed Christman, Leila Cobo, Stephen Daw, Elizabeth Dilts Marshall, Chris Eggertsen, Griselda Flores, Paul Grein, Lyndsey Havens, Gil Kaufman, Steve Knopper, Carl Lamarre, Cydney Lee, Elias Leight, Jason Lipshutz, Joe Lynch, Heran Mamo, Gail Mitchell, Melinda Newman, Jessica Nicholson, Sigal Ratner-Arias, Isabela Raygoza, Eric Renner Brown, Kristin Robinson, Jessica Roiz, Neena Rouhani, Dan Rys, Andrew Unterberger

Methodology: Nominations for Billboard’s executive lists open no less than 150 days in advance of publication, and a link is sent to press representatives by request before the nomination period. (Please email thom.duffy@billboard.com for inclusion on the email list for nomination links and for how to obtain an editorial calendar.) Billboard’s Indie Power Players for 2023 were chosen by editors from among independent labels and distributors based on factors including, but not limited to, ­nominations by peers, colleagues and superiors. ­Nominations from A2IM also were considered. Record companies are defined as independent by their ownership through entities other than the three major music groups. Distributors, regardless of their corporate ownership, qualify as independent through the repertoire they market. In addition to information requested with nominations, editors consider industry impact as measured by metrics including, but not limited to, chart, sales and streaming performance as measured by Luminate and social media impressions using data available as of April 24.

This story originally appeared in the June 10, 2023, issue of Billboard.