12,000 of the world’s independent record labels have joined together to create a virtual fifth major.

“80 percent of the world’s music releases come not from the majors but from independent labels. Getting access to this music is a hassle for stores like iTunes and webcasters like Last.fm, since it takes an incredible amount of effort to do thousands of different (and small) deals. It’s not a great situation for the indies, either, which individually don’t possess the clout needed to get the best deals.”

A little over a year ago, the indies launched Merlin, a one stop rights clearinghouse for indie artists. More importantly and according to Ars Technica, “Merlin has announced that it is working on deals with several soon-to-be-launched services, including the highly-anticipated music service from MySpace.” Read the rest here..