The music industry is a branch of the economy that produces , advertises and distributes music on sound carriers . The music industry is also referred to as the "music industry", "music industry" and "music business".
The historical and economic development of the worldwide sound carrier industry is shaped by inventions and technical innovations in this sector. Major pioneers in the first phase of the music industry were the universal inventor Thomas Alva Edison and the German-born Emil Berliner . With the patent application on December 24th 1877 of Edison's "Phonograph" the basis for the sound carrier industry was created. On July 18, 1877, Edison succeeded in making the first audible sound recording of a human voice. Emile Berliner developed the first records on October 25, 1887 from wax-coated zinc. On November 8, 1887, Berliner registered his gramophone under the patent specification 45048 in Berlin and presented the gramophone and record to the public in Philadelphia for the first time on May 16, 1888.
The Paris World's Fair in 1889 was the real start of the international music industry. From July 1890, the Grammophon-Spielwaren-Fabrik Kämmer, Reinhardt & Co factory founded on May 19 in Waltershausen, Thuringia, produced the first industrial gramophones. In the same year, industrial music recordings began, played in the jukeboxes invented in 1889 . The namesake only held a few shares in the American Gramophone Company in Berlin . Some sources claim that around 25,000 records and 1,000 players should have left the factory by the fall of 1894; in 1898 there were already over 700,000. On November 6, 1898, Emil and his brother Joseph Berliner founded Deutsche Grammophon GmbH in Hanover . This is also where the mass production of shellac records began. On July 16, 1900, the trademark " Nipper ", the mongrel dog in front of the gramophone, was registered. In 1900, Deutsche Grammophon relocated its administration to Berlin and was converted into a stock corporation, records continued to be produced in Hanover.
When the famous Italian tenor Enrico Caruso made the first recordings in 1902, music from phonograms became socially acceptable and began its triumphal march around the world. Soon the capacities in Hanover were no longer sufficient to fulfill all orders. In 1904, production was therefore relocated to a larger location. The Hungarian-American physicist Peter Carl Goldmark invented the vinyl record on June 21, 1948 . The new material, polyvinyl chloride (PVC), enables significantly narrower grooves and thus better quality and durability of the sound recording. In addition, PVC is cheaper than shellac and not as sensitive. In 1958 , EMI was the last company to stop producing shellac records. The success of the record encouraged other entrepreneurs to produce records and players. In Europe, Hanover, Berlin, London, Paris and Vienna became centers of the new industry. Innkeepers and café owners entertained the visitors with record music. The plate also became a mass product in Asia, Latin America and the Caribbean.
The first sound carrier recording as it is today probably dated back to April 9, 1860, when a singer immortalized the French folk song Au clair de la lune for 10 seconds on a so-called phonoautograph; its inventor is Édouard-Léon Scott de Martinville . At that time it was not possible to reproduce, so that an essential sound carrier property was still missing. Edison succeeded in doing this in 1877 when he put his famous spoken Mary Had A Little Lamb , which was long considered the first sound carrier recording, on tin foil.
The National Phonograph Company, the forerunner of Edison Records, is considered to be the first record label to begin mass production of cylinders in 1888. The wax cylinder, designed with a maximum playing time of 2 minutes, was the first sound carrier in the music industry. The Columbia Phonograph Co. has been the first commercial producer of recorded reels since 1881; her 1893 catalog comprises a total of 32 pages. Columbia Phonograph Company manufactured wax cylinders from 1890, Edison bought the company. Berliners Gramophone Co. merged with the Victor Company in 1900 , which later developed into RCA Victor. From 1894 Graphophone and Columbia dominated the American cylinder market. Berliner finally founded The Gramophone Company in London in August 1898 .
In 1889, Berliner began producing flat records. At the end of 1894 he introduced the first 7-inch (17.8 cm) flat record made of hard rubber. The first single-sided shellac flat records (7 inch) came on the market in 1897 with a playing time of 3 minutes. This playing time was exceeded in 1902 by the first 10-inch (25 cm) record by 30 seconds. From 1907 Edison's Amberol cylinders come on the market, with a playing time of 4 minutes. The first electrical recordings were made on March 21, 1925. On June 28, 1944, the first stereo tape recording was made. In June 1948 the first LP with 33 1/3 rpm and a playing time of 23 minutes per side was released. The first vinyl record is presented on June 21, 1948. RCA markets the first 45 rpm singles (17.8 cm) on March 31, 1949, which had previously been released as 78 rpm. In November 1957 the small label Audio Fidelity Records released the first stereo LP with the Dukes Of Dixieland , in 1958 LPs already had a market share of 6% in the USA. In the same year, Deutsche Grammophon declares the stereo process to be standard technology. By 1960 LP had a market share of 25%.
The market launch of the MusiCassette (MC) by Philips began in 1965. MCs had acoustic advantages over records because frequent playback did not leave behind as clearly - acoustically perceptible - defects as vinyl. This was perfected in 1982 with the introduction of the CompactDisc (CD). It meant a complete departure from analog recording and playback processes. The introduction of new types of sound carrier technologies (such as from cylinder to record, from shellac to vinyl, from single to LP, from vinyl to MC and from MC to CD) helped the record companies to increase their sales through demand for replacement products.
First record companies
On June 27, 1887, the American Gramophone Co. was founded by Emil Berliner, who had emigrated from Germany, as the first record company in the world. The first three American labels were Edison Amberol (1888), Columbia Records (1888) and Victor Talking Machine Company (1901). In April 1893, Edison had incorporated all of the patents connected with music into the United States Gramophone Co. , which in the following year was already working with the predecessors of the record catalog. On December 6, 1898, Berliner founded the first German record company, Deutsche Grammophon GmbH, in his native Hanover . His Master's Voice was written in London in 1899 . On June 27, 1900, Deutsche Grammophon GmbH was renamed Deutsche Grammophon AG, based in Berlin, and by 1901 already had 5000 titles in the catalog. The German Carl Lindström AG was founded in 1906. On May 8, 1925, Electrola was founded as a subsidiary of EMI and Gramophone Co. Ltd. In February 1929 the English Decca Records were founded , followed by Decca’s US sister company in 1934.
The 10 largest music markets
as of 2017
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The question of the extent of the record or sound carrier industry is answered by the Federal Statistical Office . The office aggregates statistics on two levels, namely “music industry in the narrower sense” and “Phonomarkt and complementary branches”, which add up to the quantity “music industry / Phonomarkt together”. The sound carrier industry in the narrower sense is merely the production, reproduction and distribution of sound carriers. In 2002, it achieved sales revenues of almost 1 billion euros with 715 companies in Germany, making it one of the smallest branches of industry in Germany. According to the Federal Association of the Music Industry, around 350 record labels are represented among them.
Today, the broad term includes the search for talent and the production of CDs ( sound recording companies and their music labels , press shops and studios ), advertising and promotion (in television , film , music videos , radio , print media , the Internet and concerts ), distribution and sales ( retail , Web shops ), music publishers , copyright and collecting societies ( BMI or GEMA ) through to interest groups ( IFPI ).
According to the IFPI, the world's largest sound carrier markets in 2006 were the USA (642.6 million units sold in 2006; 36.2% world market share), Japan (282.2 million; 16.6%), and Great Britain (191.5 Million; 10.2%) and Germany (146.2 million; 6.6%). South Korea achieved the greatest market growth in the 2010s .
The sound recording industry is structured oligopolistically around the world . There are therefore a few large providers (the " major labels ") and a large number of smaller record companies (the so-called " independent labels "). The actual dominance of the market here comes from the major labels , who have to try to generate the largest part of the sales with their artist repertoire. It is more difficult for the big labels to set stylistic or music trends or to develop stars themselves . This market structure, combined with the high cost risks and the attempt to cover costs through fixed cost degression , facilitates the concentration process in the music industry. Financially easier the purchase falls while smaller record companies by large, but also the major labels among themselves already have mergers brought about.
Concentration also includes the tendency that record companies are bought up or disappear due to bankruptcy, so that an ever decreasing number of labels remains. The operating companies have two options: through horizontal (acquisition or merger with competing record companies to stabilize or increase market share) and vertical integration (acquisition of company divisions that operate in a more or less neighboring market segment, such as music publishers ). In the 1990s, market dominance by a few companies had reached a climax despite considerable diversification of the offer: "Apparently the record industry has, at least temporarily, found the key with which concentration and diversity can be kept on the same level." Production methods and market mechanisms became adapted to the changed conditions and the needs of the end users in such a way that both capital concentration and market dominance are secured by a few companies.
A first process of concentration took place after the Great Depression in the USA in 1931, when sales collapsed by up to 90% due to the crisis. In June 1931, the Gramophone Company and the Columbia Graphophone Company merged to form EMI . That left RCA-Victor, Decca, CBS and a few smaller ones. After the Second World War, many small independent labels emerged from 1945 onwards , some of which were able to achieve great success through good management.
Since 1970 there has been an increasing concentration in the worldwide record market through mergers of record companies. In this way, the effects of mass degression, which are necessary in view of the immense investments in artist development and promotion and complex productions, can be used even more efficiently. The high proportion of fixed costs at record companies force you to take these steps so that break-even can be reached more quickly. In 1968, 11,200 copies of a single in the USA and 7,800 copies of an LP had to be converted to cover the production and fixed costs; 26% of all singles and 39% of all LPs missed this goal. However, the sales requirements for a single also fell, with the help of which a top position in the charts could be achieved. In 1968, 750,000 singles were required in the USA, in 1979 50,000 were enough. Out of ten CD releases, an average of eight do not even generate their production costs. In Germany, only about 10% of all CDs can be sold at a cost-covering level. Only the ninth, but no later than the tenth release has to be a hit. This then has to finance the previous eight flops, so that the record company gets into the profit zone. However, 2,000 CDs in Germany are enough to get into higher positions in the charts. The worldwide sound carrier market is therefore still exposed to strong tendencies towards concentration, so that ultimately oligopolization is tending to increase.
From 1979 the recession again forced concentrations in the record industry. CBS - itself emerged from a merger - was the market leader in the USA in 1973, followed by WEA (merger of Warner Brothers, Elektra and Asylum Records) and RCA-Victor. From 1968 MGM made existential losses and in 1972 it was bought by PolyGram - itself a merger between Phillips and the traditional Deutsche Grammophon. There were also Mercury, Polydor and the important music publisher Chappell Music. MCA Records took over Decca and Kapp Records. In 2002 Universal was the global market leader with a share of 25.9%, followed by Sony with 14.1%, EMI 12%, Warner 11.9% and BMG 11.1%. The "Big Six" in 1989 - EMI, Sony, BMG, PolyGram, WEA and MCA - became the "Big Five" in 1998 through the merger of PolyGram with Universal Music Group (formerly MCA), and in 2004 Sony merged with BMG merged, only four big labels remained, although a market share of between 25% and 28% remained with independent labels.
Now that the EMI Group in a structural and later also economic since 2001 at the latest corporate crisis was the major bank-financed Citigroup in September 2007, the company takeover by the mutual fund company Capital Partners Terra (owner: London's major investor Guy Hands), which turned out to be a bad investment. The slump in CD sales caused EMI to post a pre-tax loss of £ 263.6m in 2007. The takeover should result in savings of around £ 28 million, particularly in marketing. The worldwide number of originally 5500 employees of the EMI Group should be further reduced. After Terra Firma could no longer raise the loan interest for the purchase price financing, Citigroup took over the EMI shares from Terra Firma in February 2011. As a result of loan write-offs, Citigroup lost £ 2.2 billion (originally £ 3.4 billion loans) and Terra Firma lost its equity share of £ 1.7 billion. The takeover of EMI by Terra Firma turned out to be one of the biggest failures of leveraged buyouts in financial history. Finally, the Universal Music Group acquired the share package, which was approved by the EU Commission in September 2012. As a result, the German parts of the EMI labels Capitol Records , Blue Note Records and Virgin Records were centralized to Berlin in May 2013, and the headquarters of Electrola GmbH was relocated to Munich in May 2013. The hit and pop label Electrola was relocated to Universal Music Deutschland GmbH in Munich, where it has been running the folk music label Koch Universal Music as a sub-label since May 1, 2013 . Only the Rhingtön label remains - because of the exclusively Cologne repertoire such as the EMI Recorded Music GmbH holding company - in Cologne. After the spectacular merger, the music market consists of just three major labels : Universal Music Group, Sony Music Entertainment and Warner Music Group .
The three world's largest major labels
Since such concentrations of even large corporations harbor the risk of further bundling of market power, the planned increase in market power often failed due to the antitrust authorities: for example, in 2001 the European antitrust authorities banned the merger of EMI with BMG, which withdrew their application in October 2000. The "Big Three" have a 71.7% share of the world market in the record business and leave only 28.3% to the independent labels. Typical oligopoly structures are expressed here.
- The market leader is the Universal Music Group , which with its labels such as Island , Polydor , Verve , Motown and Mercury holds a world market share of 25.5% (2004). Universal Music Publishing, which is part of the group, has been a leader in music publishing since 2006. The market leader in turn belongs to Vivendi SA, the French media conglomerate. Market share in Germany (2007): 34.9%. The group subsidiary EMI emerged in 1931 from the merger of the Gramophone Company and Columbia Gramophone Company . In 1957 EMI bought the US Capitol Records . Associated labels are in particular: Electrola , Virgin Records or Intercord . The music publisher EMI Music Publishing was formed in 1972 through the acquisition of Francis, Day & Hunter Music Publishing and managed until 2006 the world's biggest pop and rock catalog with about 1 million copyrights. The global market share of the EMI Group was 13.4%, in Germany 17%.
- The Warner Music Group includes the labels Elektra Records and Atlantic Records (1968), Reprise Records and Rhino Records . Warner merged with Time Corp. in 1987 . to Time Warner , who sold the music business to Canada in 2003. Billionaire Bronfman sold. The music publisher Warner-Chappell belongs to the group. World market share: 11.3%.
- Sony Music Entertainment is a subsidiary of Sony Corporation, whichentered the music businessin 1987 with the spectacular takeover of the largest American record company, Columbia Records . In 1994 Sony Music Entertainment had a world market share of approximately 18% and annual sales of approximately US $ 5 billion. In August 2004 Sony Music Entertainment and BMG Entertainment formed a joint venture . The world market share of Sony BMG rose to approx. 21.5% (Germany: 28.7%). Four years later, BMG left its core business of producing sound carriers and left the shares in BMG to Sony Music Entertainment. Sony Music Entertainment includes: a. the labels Arista Records , Columbia , Epic Records , J Records and RCA Records . Michael Jackson's music publisher ATV Music Publishing has also been integrated into the group since 1995.
The major labels are parts of media groups that are segmented into several branches and can therefore also use the synergies of their groups (such as the title repertoires of group music publishers).
The countries with the highest sales in the worldwide sound carrier market today are Japan, the USA and Germany.
Between 1889 and 1896, 2 million records were produced annually in the United States. In 1927 there were 104 million records, in 1938 a total of 33 million (75% of them RCA and Decca), RCA alone published almost 127 million records in 1941. The Rock & Roll brought in 1955 in the US sales jump to 252 million records. In the year 1921 the sales mark of 100 million US dollars was exceeded for the first time in the USA, great growth with 26% increase to 277 million US dollars was achieved in 1955, in 1967 with 1.173 billion US dollars the billion dollar Crossed the border. After the CD was launched on the market in 1983, there was steady, sometimes strong, growth in sales that continued until 1996. But then the replacement vinyl / CD was completed.
Sound carrier market in Germany
It was not until 1919 that the threshold of 1 million records produced was exceeded in Germany, while a total of 2.23 million records had already been marketed in the USA in 1919. Deutsche Grammophon produced 2.1 million records in 1924, 5.5 million in 1928, and 10 million in 1929 with a daily production of 83,000 records. After the founding of Electrola in 1926, production in Germany increased to 20 million records, in 1927 it was 25 million, in 1928 even 30 million. Between 1925 and 1929, 1.5 million gramophones were bought in Germany. The world economic crisis hit the German recording industry with some time lag. In the crisis year of 1929 another 30 million records were sold, in 1931 only 18 million. In 1933 only 8 million were sold, the low point was in 1935 with 5 million records. From 1936 the record market also consolidated again and recorded an increase to 7 million, in 1937 10 million came onto the market again, in 1938 12 million were sold, and in 1939 there were 14 million. The German separation also made itself felt in record sales, because in 1949 only 4 million records were sold in West Germany, in 1951 11.7 million again.
It was not until 1952 that the economic upswing also reached the German record business, with considerable growth rates. Since 1952, the German record companies have more than doubled their production. In 1954 around 25 million records were pressed, in 1955 there were 31 million, in 1956 an increase to 36.5 million (90% of which was dance / light music), and in 1957 57 million copies. The proportion of light music - following a global trend - has risen continuously.
The Beatles and other British beat bands saw a jump in sales from 1964 onwards. While 40.1 million records were marketed in West Germany in 1962, in 1963 there were already 43.2 million. In 1964 there was an increase of 10.2% to 47.6 million. The continuous growth rates put Germany in third place worldwide on the list of the highest record sales. Japan then ousted Germany from the third world marketplace in 1979. It has remained that way to this day.
In March 2010, the Bundesverband Musikindustrie e. V. (BVMI) that the German music industry got through the crisis year 2009 well and is still on a consolidation course. The mainstays of the music market were stable CD sales, sustained high growth in music downloads and the increasingly important new sources of income. Including the income from ancillary copyrights recorded for the first time in the overall statistics and the new sources of revenue such as merchandising , artist management and license income , the music industry achieved total sales of 1.803 billion euros in 2009 (2008: 1.842 billion), which corresponds to a slight decrease of 2.1 percent . Music-only sales fell somewhat more sharply (−3.3 percent). They fell from 1.582 billion euros in 2008 to 1.530 billion euros in 2009.
The continuous growth phase of the German record industry ended for the first time after the Second World War in 1979, when sales fell by eleven percent; that was a dramatic crash for the time. With the introduction of the CD in 1983, a strong recovery began, as the re-marketing of the repertoire already available to buyers in digital form enabled enormous sales increases. For the first time in 1988, more CDs than records were bought. Unauthorized music downloads from the emerging Internet , which can be burned onto blank CDs and thus illegally distributed, are considered to be the trigger for the worldwide crisis in the sound carrier industry that began in 1997 . The number of blanks in Germany has risen from 58 million to 303 million (2004) since 1999, while the number of recorded original CDs fell from 210 million to 146 million in the same period. The gap was in 2001, when blank CDs (182 million) and recorded CDs (185 million) were roughly on par; an indication of the increasing crisis in the record industry worldwide. Since 2003, the number of CD albums sold in Germany has remained relatively stable between just 145 and 150 million units. In 2009, 147 million music CDs were sold.
New sales opportunities
The music industry is always looking for ways to counteract critical developments. The initial aim was to secure appropriate income for the individual artists. On the one hand, it was possible to strengthen the rights of authors, performers and music publishers and - more recently - to ensure that unauthorized music downloads are prosecuted more consistently. On the other hand, it is increasingly concentrating on this new distribution channel - paid music downloads.
With the Internet and in particular the digital audio codec mp3 , the separation of music recordings and physical sound carriers came about for the first time in 1992, which facilitated the dissemination of digital music recordings. In the area of non-physical sound carriers, the music industry has recorded an increase in digital music downloads from online offers since 2003; In 2008 alone, legal music downloads increased by 34% compared to the previous year. In addition, merchandising, artist management and income from concerts and ticketing are to be new sources of income in order to reduce one-sided revenue dependencies. License and advertising revenues are also becoming increasingly important for companies in the music industry.
A further compensation of falling income from the sale of sound carriers takes place through the so-called "360-degree contracts", with which the sound carrier industry can participate in all further income of its artists (including live income). So z. B. Sony Music have only signed such all-round contracts with new artists since 2008.
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- ^ Media History Project. ( Memento of the original from October 8, 2009 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. University of Minnesota
- ^ Tim Brooks, Richard Keith Spottswood: Blacks And The Birth of The Recording Industry 1890-1919. 2004, p. 35.
- ^ Tim Brooks, Richard Keith Spottswood: Blacks And The Birth of The Recording Industry 1890-1919. 2004, p. 40.
- ↑ Researchers Play Tune Recorded Before Edison . In: New York Times , March 27, 2008
- However, ↑ went bankrupt in October 1929 because the reels could only be played with Edison turntables
- ↑ Jim Dawson, Steve Propes: 45 rpm: The History, Heroes & Villains of A Pop Music Revolution. 2003, p. 28.
- ↑ RIAJ Yearbook 2018: IFPI Global Music Report 2018 (page 4). Recording Industry Association of Japan , archived from the original on June 18, 2018 ; accessed on June 18, 2017 .
- ↑ Michael Söndermann: music industry 2002 . ( Page no longer available , search in web archives ) Info: The link was automatically marked as defective. Please check the link according to the instructions and then remove this notice. (PDF) German Music Information Center, p. 3 f
- ↑ South Korea had around 8.5m music subscribers at the end of 2018. In: musically.com. March 4, 2019, accessed on September 2, 2019 .
- ↑ South Korea illustrates how good legal services, combined with strong repertoire and a healthy legal environment can lead to significant market growth over time. In: IFPI . Retrieved September 2, 2019 .
- ↑ Caitlin Kelley: K-Pop Is More Global Than Ever, Helping South Korea's Music Market Grow Into A 'Power Player'. In: Forbes . April 3, 2019, accessed on September 2, 2019 .
- ^ Robert Burnett, The Global Jukebox - The International Music Industry , 1996, p. 108
- ↑ Mario d'Angelo: Does globalization mean ineluctable concentration? . In: François Roche; Boris Marcq; Delfín Colomé (eds): The Music Industry in the New Economy , Report of the Asia-Europe Seminar, Lyon, Oct. 25-28, 2001, IEP de Lyon / Asia-Europe Foundation / Eurical, 2002, pp. 53-58
- ↑ Russell & David Sanjek: American Popular Music Business in the 20th Century. 1991, p. 203.
- ↑ These are expenses for artist fees, recording studio, production and distribution of the CDs, advertising and marketing
- ↑ Martin Schaefer, Bundesverband der Phonographischen Wirtschaft, in an interview from 2002
- ↑ measured on sales
- ↑ Steve Chapple, Reebee Garofalo: Who Owns Rock Music ? 1980, p. 230.
- ↑ EMI: Terra Firma tightens austerity course . In: Manager magazine
- ↑ Banking group takes control of EMI Heise.de
- ↑ EMI Taken Over By Citigroup in Deal To Write Off Debts , BBC News dated February 1, 2011
- ↑ Universal Music secures the future of EMI in Germany , Universal Music Group of December 5, 2012
- ^ The Recording Industry in Numbers 2005. IFPI
- ↑ 31. Global Music Recordings Sales by Country 2010 (page 24). (PDF; 2.4 MB) RIAJ , 2012, accessed April 28, 2012 .
- ^ Harvey Rachlin: The Encyclopedia Of The Music Business. 1981, p. 316.
- ↑ Simon Frith: Popular Music: Music And Society. 2004, p. 114ff.
- ↑ Simon Frith: Popular Music: Music And Society. 2004, p. 120.
- ↑ Federal Association of the Music Industry: Music industry maintained well in the crisis year 2009 . ( Memento of the original from March 27, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. March 24, 2010
- ↑ Patrick Stähler: Business models in the digital economy. 2002, p. 262.
- ↑ Annual Economic Report 2008. ( Memento of the original dated April 7, 2009 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 2.1 MB) Federal Association of the Music Industry, pp. 19/27
- ↑ Annual Economic Report 2009. ( Memento of the original from March 27, 2010 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Federal Association of the Music Industry
- ↑ Julia Bonstein: Customer search in enemy territory . In: Der Spiegel . No. 16 , 2008 ( online ).