All right, no problem. Thanks.
However, our industry is not without its challenges. As small businesses that discover and develop Canadian artists, create and commercialize music, access to capital is our number one issue. Banks by and large do not lend money to the music industry. Our product is intellectual property. Our songs are ephemeral. That is why governments are important partners. You provide some of the seed capital that enables commercial success, economic benefits, and job creation in our industry.
Competition, both global and domestic, is an ongoing challenge. For example, as Solange mentioned, the multinational major record labels, Sony, Warner, Universal, are both our strong business partners as well as our competition. How can they be both? About 85% of the independents such as Shauna's company are distributed in Canada by one of the majors, or have marketing and promotion agreements with them. In many ways it is a symbiotic relationship and it works very well for all parties.
On a broader level, though, our small businesses still struggle for market share and shelf space, be it physical or digital, in the marketplace. For example, Universal, since its acquisition of Britain's EMI label, owns close to half of the overall market. Last year, over 76% of all album sales in Canada were by major label international artists like Beyoncé and Lady Gaga. Canadian artists owned 23% of the domestic market last year, over 14% of which was sold by independent artists in both English and French markets. The upside is that 60% of all Canadian artists' sales in Canada were from artists signed to CIMA's or ADISQ's members. Forty per cent of Canadian sales were by artists signed to the major labels.
Still, it is a struggle for individual Canadian companies like Shauna's to compete one on one with the relatively deep pockets and international marketing heft of the major labels. This is why continued support for production, marketing and promotion is so important to our domestic companies.
Technological changes over the past decade have significantly impacted the industry. While digital piracy and file sharing were rampant for most of the past decade, technology has also influenced consumer behaviour. Whereas before it was an album market, now consumers purchase singles or they stream music, which is otherwise known as renting music. This has dramatically impacted the revenue model of the industry. Unit sales and per unit revenues have dramatically declined. Therefore there is a stronger reliance on diversifying revenues from a multitude of sources, be they public, private, and broadcasting dollars through the CRTC-mandated CCD fund.
Digital technology advancements have both helped and hindered the industry. It has never been easier to record and distribute music globally. Communicating with fans is more direct and interactive. However, while relatively inexpensive on the lower end, professional recording is increasingly more expensive and there is a stratification of production costs. It is increasingly difficult to gain market attention, and it's hard to rise above the noise. Resources in this area are a priority.
Technology alone cannot ensure that an artist's work is heard or discovered. Music is also a global market. Music has no borders, which means we must be anywhere and everywhere to commercialize our music, engage with our fans, and showcase our artists. Therefore, exporting is a key component of our global strategy. Unlike many of Canada's major competitors, Canada does not have a formal music export office. In recent years, CIMA has acted as a de facto export office with the support and partnership of industry partners like ADISQ, Music BC, and other music industry associations. This is an area where government is and should continue to be a key partner as we collectively explore opportunities to commercially exploit foreign markets.
Shauna.