Mark Henderson answered
The music business is a huge industry that sells recordings, performances and compositions of music. The individuals and companies who make up the areas of this industry are: Musicians, publishers, producers, engineers, record labels, studios, music stores, booking agents, promoters, venues, managers, broadcasters and journalists.
The music industry creates three types of product: Compositions, recordings and media (CDs, MP3s).
Compositions may be sold by the composer to another company for a fee, which are then licensed to a a music publishing company. The publishers collect fees (known as royalties) when the composition is used.
Record producers and audio engineers assist artists in recording material. The material that is subsequently produced is owned by a record company, who will then promote and market the record to the general public.
Music retailers sell the media that is created in the recorded process. This can either be in physical form (Vinyls, CDs, tapes or DVDs) or more increasingly downloads (MP3s).
Products of the Music Industry
Compositions may be sold by the composer to another company for a fee, which are then licensed to a a music publishing company. The publishers collect fees (known as royalties) when the composition is used.
Record producers and audio engineers assist artists in recording material. The material that is subsequently produced is owned by a record company, who will then promote and market the record to the general public.
Music retailers sell the media that is created in the recorded process. This can either be in physical form (Vinyls, CDs, tapes or DVDs) or more increasingly downloads (MP3s).
Products of the Music Industry
- Compositions
- Recordings
- Media
Labels
The industry is dominated by three major corporate companies, who also own a substantial number of smaller companies and labels too. Known as the "Big 3" (Universal, Warner and Sony) these companies are responsible for the marketing, distribution and recording of an artist. They cover all areas of the music industry and are the most integral part of the business.
A label's A&R section is responsible for discovering new talent and thus the continuing growth of the business.
- Universal
- Warner
- Sony
