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Recorded Music Industry

Recorded Music Industry

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Recorded Music Industry

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  1. Recorded Music Industry

  2. "The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side." - Hunter S. Thompson

  3. History

  4. Struggle for standardization Mass duplication Playback only 1906=reification 1918, patents run out Indie competition Music sells hardware Passive music cons. The Acoustic Era

  5. Hardware sales=music sales Increased consolidation Non-vertically integrated Power shift, “Empires of Sound” Tape/LP/45. Standardization Indies and big box stores Technology/production power to distribution power The Electrical Era

  6. Hardware sales secondary to music sales Tapes as consumer empowerment Piracy= Music circulated outside of market "Records sold like toothpaste..." Big 6 control 80%, lose touch of audience The Tape Era

  7. Philips/Sony, CD Curb piracy, $$$ format Back to the disc format STANDARDIZATION GE/Sony/Thorn, 1900s! CD cuts costs, price = The Tangible Digital Era

  8. Some Numbers • Worldwide $17B market for recorded music • Big 4= 80% of US sales, 70% globally • 2009: Album sales fell to 373.9 million from 450.5 million in 2007 • 2009: while digital album sales rose 16% to a record 76.4 million units in 2009 • Digital music grows $363M, iTune 25% US • Less current music, more catalog music

  9. Industry • Music groups, record label groups, labels • Musicians • Recording Artists • Song Writers • Distributors • Retail • Publishers Rights Organizations • Trade Association • Consumers

  10. The Majors 28.58.7% 20.55% • 80% of U.S. market at production level, 95% at distribution level. • 2008 U.S market valued at $8.3B ($14.3B/$37B in 2000) • 70% of global market. 9.2% 30.2%

  11. The Independents 3.3%$200M 2.6%$35M 2.7% $25M

  12. RIAA Board • Mitch Bainwol (RIAA) • Victoria Bassetti (EMI Recorded Music) • Colin Finkelstein (EMI Recorded Music) • Bill Hearn (EMI Christian Music Group) • Deirdre McDonald (SonyBMG) • Joe Galante (SonyBMG) • Kevin Kelleher (SonyBMG) • Rob Stringer (SonyBMG) • Julie Swidler (SonyBMG Music) • Luke Wood (Interscope Records) • Jeff Harleston (Universal Music Group) • Zach Horowitz (Universal Music Group) • Mel Lewinter (Universal Motown Republic Group) • Craig Kallman (The Atlantic Group) • Tom Whalley (Warner Bros Records) • Michael Fleisher (Warner Music Group) • Kevin Liles (Warner Music Group) • Bob Cavallo (Buena Vista Music) • Glen Barros (Concord Music Group) • Mike Curb (Curb Records) • Michael Koch (E1/Koch Entertainment) • Tom Silverman (Tommy Boy Entertainment) • Steve Bartels (Island Records) • Alan Meltzer (Wind Up Records)

  13. RIAA Cont’d • Its mission is to foster a business and legal climate that supports and promotes our members' creative and financial vitality. • Its members are the record companies that comprise the most vibrant national music industry in the world. • RIAA members create, manufacture and/or distribute approximately 90% of all legitimate sound recordings produced and sold in the United States.