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In times of upheaval, there is always opportunity — a condition that aptly describes the past year in the indie sector of the music business. Across the industry, there has been change: in leadership, in ownership, in distribution, in what it means to be independent and in creative control.

And at the same time, the indie world is thriving. Some of the biggest artists in the world — like this issue’s cover subject, RAYE — are independent; the industry’s biggest deals are being made by independent companies, like France’s Believe, preparing for its much-vaunted entry into the United States; and by label ownership, independents made up 44.15% of the U.S.…