Top Music Stars Challenge Record Giants Free Essay, Term Paper and Book Report
People are saying CD purchases are at an all time low because of the sales on the internet and illegal downloads. Also, another thing contributing to this is many artists/bands are buying out of their record labels. This, in result, means no money for the labels; more money for the artists. Madonna, being the most recent, just got $120 million for saying “goodbye” to her old record label. Maybe big name artists are going to see this, get their moneys’ worth and become independent.
“There’s a prevailing wisdom that many established acts don’t need a record label anymore,” said Bruce Flohr, an executive at Red Light Management. They represent bands like Dave Matthews and Alanis Morissette. He later states, “This is the new frontier. This is the beginning of a new era for the music business.”
This past year alone, these top four labels: Warner Music Group Corp., Vivendi’s Universal Music Group, EMI Group PLC, and Sony BMG Music Entertainment (a joint venture of Sony Corp. and Bertelsmann AG) accounted for 88% of US album sales. They still say that they have the best artists......
Word Count: 659
Page Count: 2.6 (250 words a page / double spaced)
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