MUI 221 Lecture Notes - Lecture 1: Ecolo, South By Southwest, Warner Music Group
SchoolJames Madison University
Course CodeMUI 221
This preview shows half of the first page. to view the full 2 pages of the document.
MUI 221: Survey of Music Industry - Lecture 1: Ecology of the Entertainment Business
Nature of the business:
•Music is part of every culture and celebration
•It has two parts: songwriting/emotional side + business side
•Global Recorded Music Revenues 2013: Sony - 30%, UMG - 20 %, WMG - 18%, Other- 23%
Warner Music group, UMG, Sony
Account for a large amount of music, but each company accounts for a small slither
•Sony - deals with film components and music components, provides overall entertainment.
•Universal Music Group - owns NBC, Comcast.
•Disney - owns parks, produces films (star wars), owns ABC.
Global media revenues:
•US Recorded Music: $7 billion
•Global music: $46 billion
•Recorded music: $16 billion
•Film: $88 billion
•Gaming: $93 billion
•Advertising: $535 billion
•Total: $2 trillion
•Music labels used to make all the money instead of the bands/artists, now bands tour to make
money and labels are making less due to illegal downloading of music.
Regional Music Industry:
•South by South West (SXSW) festival - biggest get together in the country, it is a week of film
and music, indie sector
Language of Business:
•Simple, the bottom line of the industry
•Things in the US are structured around business
•Citizens in Europe and Australia have a more trusting relationship with their government, there
is a basic trust in the government. America is not so trusting of government structures.
•America has a ‘can-do’ attitude,
•A lot of artists go bankrupt, they don’t know enough about finance
1. Make it easy for people to associate and do business with you: people want to talk to you,
be approachable, reliable. Never lie.
You're Reading a Preview
Unlock to view full version