Music Industry

Music Industry

The music industry is controlled by mainstream and independent companies, but mainly by mainstream companies.  Mainstream companies sign music artist to their label intentionally trying to make money. They will fund the artist to make sure they produce the best quality of music videos, album, songs (high production values) and many more intending to make profit, But the internet has changed the strategy of making money in the music industry. Labels were meant to be making money of album sales but illegal downloads has changed this. More people rather go on the internet and download the album instead of paying for it. This means that labels are not making as much money they should be making. Back in 70s you couldn’t have expensive videos, couldn’t listen to music unless it was on radio or television and lastly you had to pay for music. But now you they is more money being put into music videos, promotion for music is now viral, you can listen to what every song you want on sites like YouTube and lastly you can get music for free. Music videos are used to promote the song so that people can by the single. Labels are making more money of singles than album so they are investing more on singles.

In the late 70s- late 90s they were 6 major mainstream labels available

Late 90s – they were 5 major labels available

2004- They were 4 major labels available

2012 present- 3 major labels available

Because labels are not making as much money from the music industry as they used to; most of the majors have decided to divert there market