Research and planning- research into industry

 

The music industry consists of the companies and individuals that make money by  creating and selling  music , there are many people who make up the music industry are musicians, companies who create and sell the recorded music videos, for example music publishers, producers, recording studios, engineers, record labels, performance rights organizations, and the ones who present live performances such s booking agents, promoters, music venues, road crews, people who assist musicians also consist the music industry. Examples of these people would be talent managers, business managers and entertainment lawyers. Broadcasters are very important members of the music industry, the people who broadcast music is satellite, internet and radio.

 

The Music industry formed in the middle of the 20^th century, when records had supplanted sheet music as the largest player in the music business, a large majority of this market for recorded music is controlled by three major corporate labels: the French-owned Universal Music Group , the Japanese-owned Sony Music Entertainment,and the US-owned Warner Music Group . Labels outside of these three major labels are referred to as inderpendent lebel . The largest portion of the live music market 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. Creative Artists Agency  is a large talent management and booking company.

 

However there has been drastic changes since the advert of widespread digital distribution of music. Since 2000 sales of recorded music has dropped off substantially, however saying this live music increased in importance, the largest retailer in the world is digital,  apple iTunes store, The two largest companies in the industry are Universal Music Group  (recording) and Sony/ATV Music Publishing   (publisher). Universal Music Group, Sony BMG, EMI Group (now a part of Universal Music Group (recording) and Sony/ATV Music Publishing (publisher)) and Warner Music Group were collectively known as the "Big Four" majors. Labels outside of the Big Four were referred to as independent labels.

Sales statistics

Digital album volume sales growth in 2014

According to IFPI, the Digital album volume sales growth in 2011.

Country	Percentage
US	+19%
UK	+27%
France	+23%
Global (est)	+23%

Total revenue by year

Global trade revenue according to the IFPI.

Year	Revenue	Change	Notes
2005	$20.7 billion	-3%
2006	$19.6 billion	-5%
2007	$18.8 billion	-4%
2008	$18.4 billion	-8%
2009	$17.4 billion	-5%
2010	$16.8 billion	-8.4%
2011	$16.2 billion	-3%	(Includes sync revenues)
2012	$16.5 billion	+0.3%
2013	$15 billion	-3.9%