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The main branches of the music industry are the live music industry, the recording industry, and all the companies that train, support, supply and represent musicians. The recording industry produces three separate products: compositions (songs, pieces, lyrics), recordings (audio and video) and media (such as CDs or MP3s , and DVDs ).
The world's largest recorded music markets are listed annually by the International Federation of the Phonographic Industry (IFPI). The ranking is based on retail value (rather than units) each market generates respectively per year; retail value generated by each market varies from year to year.
The music industry is the industry that creates and performs music, both in the form of compositions and performances. The main article for this category is Music industry . Contents
At the start of her music-industry journey was a gig booking bands to play at the University of Illinois at Urbana-Champaign before moving in 1990 to L.A., where she worked at companies including ...
In 2023, the music industry recorded its highest revenue of all time, with over $8.4 billion in the first half of 2023. The RIAA reported that the number of people with streaming subscriptions had more than doubled since 2019. [45] The Eras Tour, Taylor Swift's sixth headlining concert tour, became a cultural and economic phenomenon as well.
The live music industry saw a 75% decline in 2020, according to Goldman Sachs. Up to 85% of live music revenue will be lost in the United Kingdom, according to U.K. Music.
Music is often characterized as a highly versatile medium for expressing human creativity. [7] Diverse activities are involved in the creation of music, and are often divided into categories of composition, improvisation, and performance. [8] Music may be performed using a wide variety of musical instruments, including the human voice.
Record labels may be small, localized and "independent" ("indie"), or they may be part of a large international media group, or somewhere in between.The Association of Independent Music (AIM) defines a 'major' as "a multinational company which (together with the companies in its group) has more than 5% of the world market(s) for the sale of records or music videos."