The document discusses the major record labels in the music industry over time. It describes how there were originally six major labels ("the big 6") between 1988-1999, which consolidated to five labels ("the big 5") from 1999-2004, then four labels ("the big 4") from 2004-2012, and finally three labels ("the big 3") from 2012 onward. The three current major labels are Warner Music Group, Sony Music Entertainment, and Universal Music Group. The document also evaluates these three labels for potentially signing a music duo, ultimately selecting Universal Music Group and its Virgin Emi Records label.