A record label for a company is there to make money from the artist in return they will fund money into making the album videos and travel. They act like entrepreneur funding the money risking it for an outcome. They are usually a brand or trademark. At this time there is 3 main record labels, Universal Music Group, Song Music Entertainment and Warner Music Group these 3 companies are conglomerates and have smaller companies within them. Theses 3 companies have monopolised the music industry making it nearly impossible for other companies to get sales.
With YouTube and other social media site is has become more easy for artist to be seen by these record labels one of the most famous people using social media is Lily Allen with MySpace and Justin Bieber with Youtube. They can sometimes have a long or short time affect on the selling of an album depending on the contract. An artist is normally on a contract with a label, this means they have some sort of control on what they do and try to control how an artist is seen by the audience because there main priority are sales. In recent years is has become much more easy for an artist to distribute there music without a label, and many artist have made there own record label like Madonna (Maverick Records), P Diddy(Bad boy records) and Jay Z (Rock-A-Fella Records). This means that they will get more of the royalties. I have made my own record label name which is KA records I think it sounds professional and its stands for both mine and Jordan's second names.with sales of 30,000million albums estimated a year within the UK and 60,000million in America albums are a big market.
You have made a start in identifying the main record labels in the music industry, but you also need to include the summary points, to extend your knowledge and understanding further.
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