IODA Marks Five-Year Anniversary With 370% Average Annual Revenue Growth Since 2004
The Independent Online Distribution Alliance (IODA), a digital distribution company for independent labels, marked its five-year anniversary with a 370% average yearly growth rate since its inception. Over 50,000 artists from more than 50 countries, representing a catalog of over one million tracks, have utilized IODA as their digital distribution and marketing partner.
IODAâ€™s five-year anniversary comes on the heels of strong growth projections for the digital music industry made by Forrester Research. In its February 2008 report entitled â€œThe End Of The Music Industry As We Know It,â€ Forrester predicted that one-half of all music sold in the US will be digital in 2011 and will surpass physical CD sales in 2012. The report projects digital music sales to reach $4.8 billion by 2012.
IODAâ€™s catalog is licensed to over 100 retail partners representing more than 400 digital storefronts worldwide, including major distributors like iTunes, eMusic, Amazon MP3, Napster and Rhapsody; mobile carriers and outlets such as Sprint, Verizon Wireless, T-Mobile, and Musiwave, as well as dozens of emerging models and stores.
IODA will celebrate its five-year milestone next week at its Annual IODA Opening Day Bash at the SXSW conference in Austin, Texas. The annual showcase features popular independent artists from around the world in celebration of IODAâ€™s five-year anniversary, including the first U.S. show in two years for the seminal UK band The Wedding Present. The showcase will be held on March 12 from Noon to 6pm and is free and open to the public. All bands are represented by IODA and will be part of IODAâ€™s free SXSW music sampler.