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Music industry

The music industry consists of the individuals and organizations that earn money by writing songs and musical compositions, creating and selling recorded music and sheet music, presenting concerts, as well as the organizations that aid, train, represent and supply music creators. Among the many individuals and organizations that operate in the industry are: the songwriters and composers who write songs and musical compositions; the singers, musicians, conductors, and bandleaders who perform the music; the record labels, music publishers, recording studios, music producers, audio engineers, retail and digital music stores, and performance rights organizations who create and sell recorded music and sheet music; and the booking agents, promoters, music venues, road crew, and audio engineers who help organize and sell concerts.

The industry also includes a range of professionals who assist singers and musicians with their music careers. These include talent managers, artists and repertoire managers, business managers, entertainment lawyers; those who broadcast audio or video music content (satellite, Internet radio stations, broadcast radio and TV stations); music journalists and music critics; DJs; music educators and teachers; manufacturers of musical instruments and music equipment; as well as many others. In addition to the businesses and artists there are organizations that also play an important role, including musician's unions (e.g. American Federation of Musicians), not-for-profit performance-rights organizations (e.g. American Society of Composers, Authors and Publishers) and other associations (e.g. International Alliance for Women in Music, a non-profit organization that advocates for women composers and musicians).


The modern Western music industry emerged between the 1930s and 1950s, when records replaced sheet music as the most important product in the music business. In the commercial world, "the recording industry"—a reference to recording performances of songs and pieces and selling the recordings–began to be used as a loose synonym for "the music industry". In the 2000s, a majority of the music market is controlled by three major corporate labels: the French-owned Universal Music Group, the Japanese-owned Sony Music Entertainment,[1] and the US-owned Warner Music Group. Labels outside of these three major labels are referred to as independent labels (or "indies"). The largest portion of the live music market for concerts and tours is controlled by Live Nation, the largest promoter and music venue owner. Live Nation is a former subsidiary of iHeartMedia Inc, which is the largest owner of radio stations in the United States.


In the first decades of the 2000s, the music industry underwent drastic changes with the advent of widespread digital distribution of music via the Internet (which includes both illegal file sharing of songs and legal music purchases in online music stores). A conspicuous indicator of these changes is total music sales: since 2000, sales of recorded music have dropped off substantially[2][3] while live music has increased in importance.[4] In 2011, the largest recorded music retailer in the world was now a digital, Internet-based platform operated by a computer company: Apple Inc.'s online iTunes Store.[5] Since 2011, the music industry has seen consistent sales growth with streaming now generating more revenue per year than digital downloads. Spotify, Apple Music, and Amazon Music are the largest streaming services by subscriber count.[6]

Universal Music Group — 21.1%

Sony Music Entertainment — 17.4%

EMI — 14.1%

Warner Music Group — 13.4%

BMG — 11.4%

Independent labels combined — 22.6%

Music industry of Asia

Music industry of East Asia

Music industry of Northern Europe

Music industry of the U.K.

Associations and organizations[edit]

The List of music associations and organizations covers examples from around the world, ranging from huge international bodies to smaller national-level bodies.

Krasilovsky, M. William; Shemel, Sidney; Gross, John M.; Feinstein, Jonathan (2007), This Business of Music (10th ed.), Billboard Books,  0-8230-7729-2

ISBN

Lebrecht, Norman: When the Music Stops: Managers, Maestros and the Corporate Murder of Classical Music, Simon & Schuster 1996

Imhorst, Christian: , published under the terms of the GNU Free Documentation License 2004

The 'Lost Generation' of the Music Industry

Gerd Leonhard: Music Like Water – the inevitable music ecosystem

The Methods Reporter:

Music Industry Misses Mark with Wrongful Suits

Archived June 26, 2007, at the Wayback Machine – a mid-2000 overview put together by Duke University undergraduate students

Music CD Industry

: "Does globalisation mean ineluctable concentration ?" in Roche F., Marcq B., Colomé D. (eds)The Music Industry in the New Economy, Report of the Asia-Europe Seminar (Lyon 2001) IEP de Lyon/Asia-Europe Foundation/Eurical, 2002, pp. 53–60.

Mario d'Angelo

: Perspectives de gestion des institutions musicales en Europe (Management Perspectives for Musical Institutions in Europe), OMF Series, Paris-Sorbonne University, Ed. Musicales Aug. Zurfluh, Bourg-la-Reine, 2006 ISBN 2-84591-130-0

Mario d'Angelo

Hill, Dave: Designer Boys and Material Girls: Manufacturing the [19]80s Pop Dream. Poole, Eng.: Blandford Press, 1986.  0-7137-1857-9

ISBN

Rachlin, Harvey. The Encyclopedia of the Music Business. First ed. New York: Harper & Row, 1981. xix, 524 p.  0-06-014913-2

ISBN

: A report on the supply in the UK of prerecorded compact discs, vinyl discs and tapes containing music. Competition Commission, 1994.

The supply of recorded music

Gillett, A. G., & Smith, G. (2015). . Artivate: A Journal of Entrepreneurship in the Arts. 4 (1): 9–24. doi:10.1353/artv.2015.0000. ISSN 2164-7747. S2CID 54907273.{{cite journal}}: CS1 maint: multiple names: authors list (link)

"Creativities, innovation, and networks in garage punk rock: A case study of the Eruptörs"

Tschmuck, Peter: Creativity and Innovation in the Music Industry, Springer 2006.

Knopper, S., 2011. The New Economics of the Music Industry. Rolling Stone, 25.

Salon article on Courtney Love's criticism of record industry business practices

Federal Trade Commission press release regarding price fixing

Antitrust settlement in Nevada price-fixing case

Archived October 25, 2017, at the Wayback Machine

The British Library – Music Industry Guide (sources of information)

The Music Business Journal

Academic articles about the music industry