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consumerism

The music industry has seen many losses in sales and profit and it is continuously happening in 2012. With 2 years sales of albums have dropped by over 100million.this is because of shifts of consumer behavior and how they receive music in 2012.there are many different ways in which people can consume music. The commercialization of internet and web 2.0 consuming music has been taken to another level and there’s many ways of listening to music without paying. If people want to hear or see music videos they can just go online and listen to it for free like on YouTube without having to pay.

Also there are many ways to download music for free causing huge losses for music companies and record label. of all music downloads are illegal through illegal download sites such as LimeWire and uTorrent were any sort of music/album is available to download for free. There are a lot of other possible sources such as free streaming on social network sites. There are also legal music download sites such as iTunes and amazon. So the music industry of 2012 is very popular and big as many people are still listening to music and purchasing from legal sites however illegal download rates it continuously growing and more opportunities are always being introduced.

The music/record industry has traditionally 2 sides

Mainstream labels: large organizations with money available for different acts and therefore able to saturate markets and offer high production value on promotional material.

Independent label’s: separate to mainstream organizations and run independently. They often cater to specific markets and work with niche genres.

Owner ship before and now:

Ownership or record labels are brand and trademarks which are linked to marketing of music and music videos.

Between the 1970s and late 1990s the music industry was dominated by the big 6 Warner Music Group, Emi, Sony music, BMG music, Universal music group and PolyGram.

1998–2004 there was merging of companies into bigger companies to form the big 5 which were Warner Music Group, Emi, Sony Music, BMG music and Universal music group.

By 2010 & 2012

By 2010 there was more merging making the big four and now in 2012 there is soon to be just the big 3 Sony Music Entertainment, Warner Music Group and Universal Music Group as Emi is being bought universal music group,.

Each of these organizations own many smaller, subsidiary label’s that specialize in many different genres and areas of the music market. This allows them to dominate most markets.

Music Industry

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