[DEFINITION]MUSIC INSTITUTION: The companies that fund and create the music videos that consumers watch
There are four main institutions dominating today’s music industry. These institutions are known as ‘The Big Four’ and include:+ Universal Music Group (UMG) –the largest of the four+ Sony Music Entertainment –the second largest+ Warner Music Group –the third largest+ EMI Music Publishing –the fourth largest and the smallest of the four…All of which are owned by Live Nation, the largest music venue owner and promoter which, therefore, controls the live musicindustry. In addition to promoting music, these institutions also promote different forms of media, including, film, magazineand TV. The Big Four also have authority over a network of smaller companies that go on to provide these forms of entertainmentto target audiences. BASICALLY: SMALLER COMPANIES
UNIVERSAL MUSIC GROUP: Founded in 1934 as DECCA Records USA, Universal Music Group(UMG) is the world’s largest music content company. In 1990, the company later developed into MCA Music Entertainment Group, and after another 6 years, further development lead to what we know as UMG today. With leading market positions in recorded music, as well as music publishing and merchandising, UMG both discovers and develops recording artists and songwriters then going onto market and promote their music through a variety of different formats and platforms, e.g. Youtube and other merchandising methods such as clothing lines and live shows. UMG also owns and governs the copyrights to musical compositions in order for them to be used in public performances, recordings, and also for use in films and advertisements. UMG has worked alongside many successful artists such as Rihanna, Snow Patrol and The Who and is situated, mainly, in New York City, USA where the institution also manages various labels including DECCA Records, Island Records and Def Jam Recordings (also known as The Island Def Jam Music Group).
SONY MUSIC ENTERTAINMENT: A global recording company that boasts a broad array of both local and international successes such as Jimi Hendrix, The Fray and One Direction. Sony Music Entertainment is solely owned by Sony Corporation of America after the Bertelsmann half of the joint business enterprise, in 2004, was bought by the Corporation in 2008; after which, it was renamed to what it is know as today. The company’s headquarters are located in New York City, USA and is home to a number of labels including Epic Records, Roc Nation and Columbia Records.
WARNER MUSIC GROUP: Founded in 1958, Warner Music Group was more commonly known as Warner Bros Records, later sold to Seven Arts Productions in 1967. With the company’s growing success, in 1972, the institution renamed itself WEA Corp, which stood for its three main labels -Warner Bros, Elektra and Atlantic. After further success building up a strong status within the industry during the 1970’s, Warner gained its first overseas bureaus in both Canada and Australia in same year. In 2004, as a result of becoming an independent holder, the company was, once again, renamed to what it is known as today. Like the previous two institutions, WMG’s main headquarters is based in New York City, USA, and like UMG, Warner Music Group offer artist management and uses similar merchandising methods. Also like the previous institutions, WMG is home to many record labels including Asylum, Rhino and Sire and has also assisted many artists that have gone on to become very successful such as Green Day, Plan B and Estelle.
EMI MUSIC PUBLISHING: Founded in 1931 as the Electric and Music Industries, EMI is the smallest of The Big Four and unlike the three previously mentioned institutions, EMI is a British company predominantly based in London. The original companies behind EMI were founded by the inventor of the gramophone, Emile Berliner, and its record labels include Angel Records, Blue Note Records and Virgin Records. Over the years, EMI has also worked alongside many successful artists including The Kooks, LCD Soundsystem and Massive Attack and to this day EMI continues to develop in the eyes of the music industry.
EXTRA INFORMATION:In order to fully promote a song through its music video, these institutions cover avariety of viewing methods and platforms including music channels (4Music, VIVA) andcoverage of entertainment news. However, with the constant developments in regard tothe Internet, it is becoming increasingly common for consumers to view music videosonline through sites like YouTube as well as the artist’s official site. Looking atmy research on music institutions, I found that many of them use the online music andentertainment service VEVO. This is because it enables the product, in this casemusic videos, to reach the vast and thriving user community on YouTube through a VEVObranded channel. In addition to these channels, VEVO offers many more through itssite.
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