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. Rise And Fall Of Traditional Forms Of Music Retail.
Goldman, David. Musics Lost Decade: Sales Cut in Half. CNN Money,
3 Feb. 2010. Web. 28 Dec. 2014.
Karp, Hannah. "Apple iTunes Sees Big Drop in Music Sales." Wall Street Journal. WSJ Technology, 24 Oct. 2014. Web. 28 Dec. 2014.
Klein, Allison. "How Record Labels Work." HowStuffWorks. InfoSpace LLC, 25 May 2003. Web. 28 Dec. 2014.
Passman, Donald. All You Need to Know About the Music Business. New York: Free Press, 2009. Print.
Shirky, Clay. "Where Napster Is Taking the Publishing World." Harvard Business Review 79. 2 (2001): 143-148. Print.
Tschmuck, Peter. "How Creative Are the Creative Industries? A Case of the Music Industry." The Journal of Arts Management, Law, and Society 2003: 33 (2), 127–141. Print.
Please type your essay title, choose your document type, enter your email and we send you essay samples