Emergence of brand new and extremely popular music trends, such as blues, jazz and rock n roll, contributed greatly to the development of innovations that facilitated access to music. Back in the old days the music industry evolved by leaps and bounds ranging from the invention of commercial radio broadcasting in the first half of the 20th century to the adoption of further revolutionary innovations, such as recorded music on portable media like vinyl records, cassettes and CDs in the second half of the foregone century.1 The introduction of the recorded music to the market and development of successful system of distribution chains combined with a powerful promotion made recording companies (known as record labels because each vinyl record of a musician or music band used to have a label of a company that recorded and produced a particular album or single) a front-line player of the music industry. Major record labels started to take over the top market share headhunting for the most talented musicians in their prime and placing bands and singers like Charley Patton, Chet Baker, Billie Holiday, Jefferson Airplane, The Beatles, The Doors and many more on a pedestal of world-wide fame.Once a recorded music industry emerged, recording companies have quickly become key intermediaries between musicians and consumers. Over the past years the situation in music industry has changed dramatically. But back in the 20th century record labels signed, developed, recorded, promoted and sold music. Successful records of famous music bands and singers sold millions of copies and earned great deal of money for the record companies.2 The paradigm of success for both record labels and musicians was not too complicated. A record label offered music artists a recording contract that gave the label an exclusive right to market the recorded music with a royalty fee paid to musicians for every sold record under the existent copyright laws. Major labels like well-known pioneers of the recording industry, such as EMI or Decca Records, often created their own value chain. In other words, they developed a system of production, distribution and promotion of music by moving records from plants to their own retail shops.3 Thus, music artists and consumers were curtained off by recording companies, distributors and retail stores. Step by step major record labels turned into huge corporations that contained a variety of recording companies with hundreds of prominent music artists
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