In the last couple of centuries the music industry has grown exponentially, and is currently bigger than ever. It has evolved from there being one person who makes the music and distributes it, to there can be potentially 20 people all working on one record. For example, some songs now actually have people hired as writers to write the lyrics for them. This has meant that the industry is now employing a large amount of people and also it has led to a rise in the demand for music.
Another reason which has contributed to the rise of the music industry is due to the increased technology. Artists are now able to produce music electronically and it is becoming easier and easier for artists to use synths and to use vocal effects like “auto-tuning” their voices. This has added a whole new wave of creativity and originality. It has also paved the way for an influx of new genres and subgenres which have been created to suit the increased music produced.
Another technological benefit is the fact that now people can find out about and download songs all from one place – the internet. The rise in digital sales has meant that records are now more accessible than ever. The rise in MP3 and iPods has led to a fall in the demand for physical records and enabled more artists to break into the market who previously couldn’t afford to. However there is a downside to this rise in technology through increased pirate downloads which means that record labels are forced to invest large amounts into piracy prevention to ensure that artists are paid for their songs.
Record Labels
There are three main record labels which all make up a considerable proportion of the industry.
Warner Music Group (WMG) – Due to the company embracing the digital age it has led to a large amount of revenue for WMG. It has meant that they are now in the top 3 Record labels in the world, in charge of artists such as Alesha Dixon, Lupe Fiasco, Aerosmith, B.O.B and Michael Bublé.
Sony Music – Based in New York, Sony music has offices all over the world. This wide spread has led to the rise of the company at an alarming rate. They not only specialise in one region, but the whole world which in some countries is the only option. They are responsible for artists such as Chris Brown, Foo Fighters, Avril Lavigne, Jimi Hendrix and Olly Murs.
Universal – After a recent takeover of EMI, it has meant that Universal are now the largest Record Label in the world. This has been very beneficial to Universal as they are now responsible for the most artists in the industry with such examples as Cheryl Cole, Stevie Wonder, Snow Patrol, Black Eyed Peas and Akon.
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