RESEARCH: Musics industry in 2012

The importance of music videos to both the industry and to fans in 2012.

The music industry has changed over the years, with new developments and new trends shaping the way the music is made and how we consume it, in 2012 the music video is now a vital part of an artist’s success, now than ever before.

In the past the music industry was separated into two sectors, the mainstream (majors, large organisations) and the independent (small organisations with niche genres and markets). The music was primarily owned by the record label and one of the main aims of the artists was to sell their albums.

Ownership from the 1960’s till 2012 have declined from the ‘Big 6’ to now currently the ‘Big 3’ which entails Universal, Sony and Warner. Changing from the ‘Big 4’ in 2011 as Universal has brought out EMI for $1.9 Billion and sold Parlaphone its subsidiary company in effect.

The Big 3

Sony Music, Universal Music Grou, and Warner Music                      








Currently, the situation is is that the number of album/sing CD sales are now falling meaning a falling number of profits for record companies. In 2008-2010 the sales for albums dropped to over £100 Million, due to the number of digital sales on the rise.

More recently the way we consume  music has changed;

·       We are now more active in our consumption of music

·       Commercialisation of the internet and web encourages this

·       People are now wanting singles

New trends have also changed consumption of music;

·       Downloading MP3 formats created such as iTunes and Amazon MP3

•   Illegal downloads on the rise
• Streaming popular –allowing music to be delivered on demand
• Social  networking sites popular between artists and fans, often used by artist to promote their music

This means that the role of the music video is more important today because

·       It gives the artist exposure and keeps fan interested in a way than never before.

·       And is an example of cross-media promotional material