- Production - the making of the music
- Distribution - getting the music to consumers
- Marketing - informing consumers ~ promoting their music
- Exchange - financial wise
The music industry is own by three main conglomerates which are: Universal music group (UMG), Sony music entertainment and It used to be four which included EMI
A conglomerate is large international company made from smaller companies.
The state of the music industry has change drastically as technology is changing everyday. Nowadays artists can create music at home as well as their music videos. So they do not need to be signed to a company to be made successful. Also with the use of youtube they can easily distribute their music and market through social networking sites. On the other hand, exchange has become a lot more difficult. Many artists do not make their income through selling records anymore as we can now illegally download the single or album online. So have to figure another way to make a profit.
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