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Ownership So who owns the music industry..?•Mainstream music is owned by largeorganisations, known as conglomerates.•5 main US conglomerates who control 95% ofall the world’s media and informationdistribution.Until the early 1990s, there were 6 major labelsthat owned music and artists. In the late 1990s,this turned into 5; it then became ‘The Big 4’ in2004.Now, in 2012, there’s 3 major global recordinglabels...
The Big 3Warner Music, Universal and Sonyare currently the biggest and mostinfluential music owners. All of thesemajor conglomerates also own manysubsidiary groups, which means theybasically own everything. Theyusually buy and sell some of thesmaller groups within themselves.
Independent Record LabelsIndependent record labels are muchsmaller organisations that operateindependently to mainstream labels.This means the videos they produce willhave a much lower production value thanvideos produced by major labels.Rough Trade Records, which was founded in1978, is a independent UK label thatinitially began as a record shop.
Mainstream Audience Their choice of popSince the conglomerates control music may be closelymost of the mainstream and related to their socialpopular artists, it means they cater life, indicating thatfor the mainstream audience too. they would beThis huge group of the majority outgoing type ofaudience are the ones that listen to people and oftenpop music; these are usually materialistic with thepeople that are between the ages need to be up-to-dateof 12 and 25. with all the latest trends and celebrity news.
Independent labelshave artists that are Audienceindependent and themusic they release isfor niche genres andaimed at specificand usually smalleraudiences.These artists may notreceive as muchmedia exposure,which is why theysometimes have torely on promotingthemselves throughsocial media.
So what’s happening with music now..?There has been a significant drop in thenumber CDs sold over the last few years. Year Revenue in album sales 2008 £ 428million 2009 £366million 2010 £319million
Why..?The main reason for the downfall of CDs is theinternet. Whether it is digital downloads(which may be legal or illegal) or the rise ofYouTube (and the introduction of VeVo, whichis the artists’ own channel), the music industryhas almost completely gone online.The internet has fast evolved into thefundamental way of addressing the fans dueto shifts in consumer behaviour. Whether theindustry like it or not, we as the audience arefar active in our consumption than everbefore.
Power of social media The importance of social media in the modern media cannot be emphasised enough. Above, you see the official Twitter page of Eminem, one of the most successful artists of all time. At a glance, you’ll notice his 12 andThe above picture is a still from the a half MILLION followers! This means that itwebsite of British group Florence and is much easier for artists to promote anythe Machine. The ‘Like’ and ‘Tweet’buttons have become unavoidable on upcoming releases of singles, videos, tours,all websites; this means that albums etc. to a global audience just byconsumers are constantly spreading typing a few words.information and raising the profile of Social media also allows interaction betweenmusicians from any site they’re on, the artists and their fans.whether it is an official site or a Further, whether it is eating an ice cream ornews/gossip site. releasing a new single, it keeps the fans constantly up to date with everything their favourite artist is doing.
Illegal access to music... Aside from the thousands of sites worldwide that are dedicated in providing illegal access to fans, YouTube is unfortunately also a place for downloaders. Fans use YouTube to convert the music videos they like into MP3 files, ready for their iPods and mobile phones.
Industry reaction: combating illegal downloads YouTube has created ‘Vevo’, which is a feature on the site that basically iTunes (of Apple) and provides artists with their own AmazonMP3 allow the channel on the site. They’ve made public to legally PAY and videos from Vevo undownloadable download high quality and instead they advertise iTunes music, ensuring profits links to legally download those songs. for the site as well as the artist and their recording label.