The music industry


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The music industry

  1. 1. The Music Industry Media studies as level
  2. 2. What is the Music Industry?  The music industry is a global business that generates profit from selling musical recording in both digital and physical, it is a complex and competitive business which within it’s umbrella definition, hold several fundamental aspects of music, one being ‘record labels/companies who are constantly devising new ways to attract the mass audience of consumers who buy music. Record labels are very important as they contribute to most of the production that occurs in the Music Industry. The diagram below highlight the various roles undertaken by record labels. Record Label Scouting for New Artists Financing Recordings Packaging & Distribution Marketing Promotion & Publicity
  3. 3. Distinguishing Record Labels & Companies  Record Company - Is the company or organisation responsible for all the record labels inside the organisation. Record companies create new labels to reflect the varied genres of artists they represent. The creation of different record labels allows them to target their projected markets accurately while still controlling the overall running of the business.  Record Label – is a company that runs within a bigger organisation, although a functioning business in is own right all the profits made by the label return to the company. Examples include EMI and Sony.
  4. 4. Major Music Organisations  Although complex it is possible to divide record companies into two categories, Major and Independent.  Major companies are institutions that operate on a global scale, they are distinct from independent because they control all aspects of the production and distribution of their music, prime examples of majors are as follows.  Universal Music  Sony/BMG  EMI  Warner Music
  5. 5. Independent Music Organisations  Independent record labels are small-scale companies who rely on distribution deal on other and often major companies, although independent organisations are only a small percentage, it has been calculated that as many as 3,000 record companies in the UK are responsible for 14,000 record labels.  The notion of independence is problematic; some labels appear to be independent but are actually ‘vanity labels’ or just subsidiaries of major companies, this is done to add some credibility to the artist and is an attractive selling point for potential music audiences. q Vanity Label – Originated in the 1960s and is the name given to a label within an existing record company that is owned by a famous artist.
  6. 6. Distribution & Marketing  Once an artist has created a recording they are happy with, it is then distributed and marketed in order to attempt to make a profit and cover the cost of it’s production, it is a labels responsibility to promote and sell the product. Record companies must market the music to the intended target audience, this is done in many ways. o Radio – plays an important role in promoting the artist via frequent airplay on popular channels. o Television – the popularity of music channels such as MTV help promote a recording artist with more of a global audience. o Music Press – have a close relationship with the industry and influence the popularity and promotion of the artist. o Internet – official websites help reinforce the image and sound of the recording artist.
  7. 7. Synergy  This is another common way in which record companies generate income via advertisement and marketing their artists with brands or products. This occurs when one branch of a company uses another part of the company to promote each other. But synergy does not have to occur within the same company for example; The Black Eyed Peas and Pepsi worked together to target a broader audience, this collaboration benefited both the band and the soft drink.    Synergy – When two different media organisations join forces in order to reach a wider audience and strengthen their individual brands.
  8. 8. • Case Study Fifty Cent  Fifty is a successful solo rap artist who promoted himself through different media institutions, in 2003 he signed a five year contract with Reebok to distribute G-Unit clothing footwear.  Additionally he provided the voice for the protagonist in the video game ‘50 Cent: Bulletproof’ released for PS2, XBOX and PSP. Bob Dylan  Bob Dylan worked along side Starbucks and Apple to promote his music. Apple benefitted by promoting their new technology to an older audience and Starbucks increased sales inside their stores by being the only store to sell a one-off Bob Dylan album especially for them.