The record industry is the division of the music industry, normally focuses to sell sound recordings of music. Formerly the music was dominated by the publishers of sheet music.
In the 20th century the importance of recorded sound had a growth in the business, and onto end of the first World War, records supplanted sheet music was considered as the largest player in the music business.
The business has mostly been controlled & dominated by the record industry.
The Coalition of the recording artists exists to defend the interest of members of the music industry.
Formerly music industry were resistant to original phonographic industries, who in turn were initially resistant to television, home taping, radio and so forth.
Some record industry organizations:
- Irish Recorded Music Association (IRMA)
- British Phonographic Industry (BPI)
- Recording Industry Association of America (RIAA)
- Canadian Recording Industry Association (CRIA)
- International Federation of the Phonographic Industry (IFPI)
- Australian Record Industry Association (ARIA)
- National Association of Record Merchandisers (NARM)
Digital Music Report
- The popularity of internet music distribution is constantly increasing.
- 13 million of tracks were licensed by record companies to digital music services.
- sales of Digital music market is about US$4.6 billion.
- The digital music market has increased its value in 1000%+ since 2004.
- 16.5% of internet users in the US purchase digital music.
- Available tracks double to four million, via 500 licensed online services in over 40 countries worldwide.
- Portable music players help drive digital music consumption.
- New revenue streams and business models emerge.