The music industry sells recordings and performances of music from an artist/band. The majority of organizations and individuals that function within the industry are musicians who create and produce music. The music industry involves so many companies and professions. Companies such as music publishers and producers, who in which sell and record songs, music venues where the artist can perform a live performance and entertainments lawyers who actually broadcast music itself. The main thing that the music industry wants to do is make money. The music industry sells music in a considerable amount of ways. The ways in which include DVD’s, ticket sales, singles, merchandise and albums.
Sheet music was a very popular element in the late 19th century trough to the early 20th century, the music industry was dominated by the publishers of sheet music. In the mid century, records had replaced sheet music as the largest player in the music business. People began speaking of the ‘recording industry’ as the win over ‘the music industry’ in the commercial world. However since the year 200, the sales of recorded music have decreased by a large extent, while live music has increased in value and significance. There are four major corporate labels that dominated record music being; Universal Music Group, Sony Music Entertainment, Warner Music Group and EMI. All of which includes of many small companies and labels helping different markets.
Sheet music was a very popular element in the late 19th century trough to the early 20th century, the music industry was dominated by the publishers of sheet music. In the mid century, records had replaced sheet music as the largest player in the music business. People began speaking of the ‘recording industry’ as the win over ‘the music industry’ in the commercial world. However since the year 200, the sales of recorded music have decreased by a large extent, while live music has increased in value and significance. There are four major corporate labels that dominated record music being; Universal Music Group, Sony Music Entertainment, Warner Music Group and EMI. All of which includes of many small companies and labels helping different markets.
Smaller companies are called independent record labels that are not included within a conglomerate. Independent records are concerned more about the music than the major record companies; independent records are more in touch with their fans. However they rarely have their own distribution channels, dissimilar to the major record companies. The independent record companies can gain credibility by being owned by a major record company, or launch their own nominally independent labels. The CD sales decreased, however in 2008 digital music generated $2 billion alone. While the big four record companies dominated the market, the independent labels have a quarter of the market share.
Record labels promote their artists in the following ways:
· Music video
· Radio air-play
· Posters
· Tie-ins: TV, film, soundtracks, adverts
· Live performances
· Television/radio/web
· Internet: MySpace, official/unofficial web pages
· The music press
The live music industry is dominated by the largest promote and music venue owner, Live Nation. The company Live Nation is a past ancillary of the largest owner of the radio stations in the United States , the Clear Channel Communications. The Creative Artist Agency is another important section of companies within the music industry s, along with Apple Inc, in which is stated as the world’s largest internet based music store, the iTunes Store.
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