The Music Industry
The manufacture of music is based on a structure consisting of record companies that produce and distribute products via retail outlets such as high street record stores, the internet, eyc. Record labels take on the costs of producing a song/album that the company will own. The record label is responsible for making copies onto a CD/vinyl format and then distributing the artefact to retail outlets. The record company will invest in promoting the artist and track via advertising and other stratergies that will gurantee that the audience will have as much access as possible. Companies' roles are, therefore, to manufacture, distribute and promote new products in order to make a profit on their initial investment. The constant flow of production from record companies makes a sustainable buisness that is frequently producing music.
The Majors
New entries in the charts and recognisable artists in music all belong to the most successful record companies. The music indusrty is dominated by four major companies-EMI, Universal, Warner music and Sony BM, who all own a collection of smaller record labels. Each label has roll-call of artists who have signed a recording contract. The record companies are responsible for an eclectic mix of music artists and production. No company specialises in one style of music; the individual labels often fulfill this function. This synergy assists in the promotion of music within other media formats.
Characteristics of major companies' strategies
The music industry's product is costly to intially secure, but the reproduction of the product onto CD/DVD due to new technologies, is cheap to manufacture. However, it is a precarious industry and a record company cannot always guarantee that new artists and their music will appeal to a wide-enough market to make a profit.Companies, therefore, prioritise a small group of well-established artists on their labels and invest heavily in their product-promoting new material excessively with multi-media spectacles re-releasing back catalogue 'Greatest Hits' on CD and DVD, large scale tours to promote the album and so forth. Repackaging the familiar is apparent in major companies' preoccupation with easily-identifiable genres of music. If an artist's style of music is popular, then companies will often sign a range of similar sounding artists who can then be sold on their connection to other bands. Like film and TV, a music genre allows a product to be promoted easily based on familiarity. Genres are marketed to existing audiences via 'niche' advertising strategies. The identifiable target audience are given access to artists and bands via radio, the music press and TV channels that 'Specialise' in similar genres and products.
The manufacture of music is based on a structure consisting of record companies that produce and distribute products via retail outlets such as high street record stores, the internet, eyc. Record labels take on the costs of producing a song/album that the company will own. The record label is responsible for making copies onto a CD/vinyl format and then distributing the artefact to retail outlets. The record company will invest in promoting the artist and track via advertising and other stratergies that will gurantee that the audience will have as much access as possible. Companies' roles are, therefore, to manufacture, distribute and promote new products in order to make a profit on their initial investment. The constant flow of production from record companies makes a sustainable buisness that is frequently producing music.
The Majors
New entries in the charts and recognisable artists in music all belong to the most successful record companies. The music indusrty is dominated by four major companies-EMI, Universal, Warner music and Sony BM, who all own a collection of smaller record labels. Each label has roll-call of artists who have signed a recording contract. The record companies are responsible for an eclectic mix of music artists and production. No company specialises in one style of music; the individual labels often fulfill this function. This synergy assists in the promotion of music within other media formats.
Characteristics of major companies' strategies
The music industry's product is costly to intially secure, but the reproduction of the product onto CD/DVD due to new technologies, is cheap to manufacture. However, it is a precarious industry and a record company cannot always guarantee that new artists and their music will appeal to a wide-enough market to make a profit.Companies, therefore, prioritise a small group of well-established artists on their labels and invest heavily in their product-promoting new material excessively with multi-media spectacles re-releasing back catalogue 'Greatest Hits' on CD and DVD, large scale tours to promote the album and so forth. Repackaging the familiar is apparent in major companies' preoccupation with easily-identifiable genres of music. If an artist's style of music is popular, then companies will often sign a range of similar sounding artists who can then be sold on their connection to other bands. Like film and TV, a music genre allows a product to be promoted easily based on familiarity. Genres are marketed to existing audiences via 'niche' advertising strategies. The identifiable target audience are given access to artists and bands via radio, the music press and TV channels that 'Specialise' in similar genres and products.
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