This thesis is a political economic analysis of the structures of the global music industry and the place of the independent music industry within it. The objective of this study is to map out and explore some of the changes that are currently transforming these industries. I focus particularly on those issues facing emerging, independent musical artists in a globalized context; including the reasons for the dominance of the industry by the "Big Four" multinational record labels; technological advancements that have led to a reduction of entry barriers for independent labels and artists; the roles cultural policies have played to help counter the dominance of the multinational record labels and the importance of musical "scenes" to the development of independent music. This study is approached from a Canadian perspective and includes a case study of the rise and international explosion of the Montreal indie music scene in 2005. Through this case study, I explore the impact of technological innovation on this scene and the ways in which Canadian cultural policies have helped support and promote independent Canadian artists, as well as examine the current relevance of these policies. Ultimately, I hope to draw broader conclusions about the shifting structures of the music industry and how independent artists can represent, maintain and grow their culture within the US-dominated global popular music industry.