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Transcript of music ind.
Along with their numerous subsidiaries, a large majority of this market for recorded music is controlled by three major corporate labels: №3960, Business Information Systems (BIS) Made by:
Tihomira D. Todorova Global trade revenue according to the IFPI. Total value by country Despite increasing digital sales, the largest record labels have all reported a considerable decline in overall revenues from sales of recorded music to consumers in the first decade of the 21st century. Revenues in the U.S. dropped by half over a decade, from a high of $14.6 billion in 1999 to $6.3 billion in 2009, according to Forrester Research. Worldwide revenues for CDs, vinyl, cassettes and digital downloads fell from $36.9 billion in 2000 to $15.9 billion in 2010 according to IFPI. The Economist and The New York Times report that the downward trend is expected to continue for the foreseeable future. Rise of digital distribution The music industry or music business consists of the companies and individuals that make money by creating and selling music. Nielson SoundScan in their 2011 report noted that the "big four" controlled about 88% of the market:
Universal Music Group (USA) — 29.85%
Sony Music Entertainment (USA) — 29.29%
Warner Music Group (USA) — 19.13%
Independent labels — 12.11%
EMI Group - 9.62% Sales statistics Changes in the music industry have given consumers access to a wider variety of music than ever before, at a price that gradually approaches zero. However, consumer spending on music-related software and hardware increased dramatically over the last decade, providing a valuable new income-stream for technology companies such as Apple Inc. Many newer artists no longer see a record deal as an integral part of their business plan at all. Inexpensive recording hardware and software made it possible to record reasonable quality music in a bedroom and distribute it over the internet to a worldwide audience. This, in turn, caused problems for recording studios, record producers and audio engineers. In response to the rise of widespread illegal file sharing, the record industry took aggressive legal action. In 2001 it succeeded in shutting down Napster, and threatened legal action against thousands of individuals who participated. Legal digital downloads became widely available with the debut of the iTunes Store in 2003.
The popularity of internet music distribution has increased and by 2012 digital music sales topped physical sales of music. However, as The Economist reports, "paid digital downloads grew rapidly, but did not begin to make up for the loss of revenue from CDs.” Commercially released phonograph records of musical performances starting in the late 1880s, and later the onset of widespread radio broadcasting starting in the 1920s, forever changed the way music was heard. The power of radio allowed obscure bands to become popular on a nationwide and sometimes worldwide scale. In the late 19th century and early 20th century the group of music publishers and songwriters which dominated popular music in the United States became known as Tin Pan Alley. The name originally referred to a specific place in Manhattan. The turmoil in the recorded music industry changed the twentieth-century balance between artists, record companies, promoters, retail music-stores and the consumer. Recording artists now rely on live performance and merchandise for the majority of their income, which in turn has made them more dependent on music promoters. In the 19th century, sheet-music publishers dominated the music industry. In the United States, the music industry arose in tandem with the rise of black face minstrelsy. History The music industry has been undergoing drastic changes since the advent of widespread digital distribution of music. The largest music retailer in the world is now digital: Apple Inc.'s iTunes Store. The largest portion of the live music market is controlled by Live Nation, the largest promoter and music venue owner. Live Nation is a former subsidiary of Clear Channel Communications, which is the largest owner of radio stations in the United States. Creative Artists Agency is a large a management and booking company. the French-owned
Universal Music Group
Sony Music Entertainment
and the US-owned
Warner Music Group Music Industry The "record industry" eventually replaced the sheet music publishers as the industry's largest force.
Many record companies died out as quickly as they had formed, and by the end of the 1980s, the "Big 6" — EMI, CBS, BMG, PolyGram, WEA and MCA — dominated the industry. Total revenue by year