Music Industry, History and Economics of

The term music industry refers to a highly complex social field where conflicting economic interests, political struggles and controversies, equivocal technological developments, and disparate cultural forces intersect and interact on a global and a local level. In terms of its products, structures, and ownership, the music industry is part of the media and entertainment industry, and it includes three distinct but interrelated sets of creative activities: recording, live performances, and music publishing. The major groups of stakeholders include creative artists (composers, performers, songwriters); intermediaries providing services such as artist management, promotion, administering copyrights (for artists, publishers, and record companies), recording, publishing, organizing concerts, and others; other industries surrounding music such as hardware manufacturing, including electronic devices and musical instruments; and users of music such as ...

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