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Lecture 1

MUI 221 Lecture Notes - Lecture 1: Ecolo, South By Southwest, Warner Music Group


Department
Music Industry
Course Code
MUI 221
Professor
david Cottrell
Lecture
1

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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%
Major Companies:
Warner Music group, UMG, Sony
Indie companies:
Account for a large amount of music, but each company accounts for a small slither
Entertainment Conglomerates:
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:
Really big
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-doattitude,
A lot of artists go bankrupt, they dont know enough about finance
Business Principles:
1. Make it easy for people to associate and do business with you: people want to talk to you,
be approachable, reliable. Never lie.
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