Music industry

The music industry consists of the companies and individuals that make money by creating and selling live music performances, sound recordings and music videos of songs and instrumental pieces. Among the many individuals and organizations that operate in the industry are: the songwriters and composers who create new music; the singers, musicians, conductors and bandleaders who perform the music; the companies and professionals who create and sell recorded music and/or sheet music (e.g., music publishers, producers, recording studios, engineers, record labels, retail and online music stores, performance rights organizations); and those that help organize and present live music performances (booking agents, promoters, music venues, road crew).

The industry also includes professionals who assist singers and musicians with their music careers (talent managers, artists and repertoire managers, business managers, entertainment lawyers); those who broadcast music (satellite, Internet radio stations, broadcast radio and TV stations); music journalists and music critics; music educators and teachers; musical instrument manufacturers; as well as many others.

Market share

Market share is the percentage of a market (defined in terms of either units or revenue) accounted for by a specific entity. In a survey of nearly 200 senior marketing managers, 67% responded that they found the "dollar market share" metric very useful, while 61% found "unit market share" very useful.

"Marketers need to be able to translate and incorporate sales targets into market share because this will demonstrate whether forecasts are to be attained by growing with the market or by capturing share from competitors. The latter will almost always be more difficult to achieve. Market share is closely monitored for signs of change in the competitive landscape, and it frequently drives strategic or tactical action."

Increasing market share is one of the most important objectives of business. The main advantage of using market share as a measure of business performance is that it is less dependent upon macroenvironmental variables such as the state of the economy or changes in tax policy. However, increasing market share may be dangerous for makers of fungible hazardous products, particularly products sold into the United States market, where they may be subject to market share liability.

Global music industry market share data

Note that this list ranks the markets based on retail value (rather than units) each market generates respectively per year. The retail value generated by each market varies from year to year. The figures are based on IFPI annual reports. As all financial data is given in US dollars annual rates of change for all countries other than the United States are heavily influenced by exchange rate fluctuations as well as by actual changes in revenue in local currency terms.

IFPI 2014 data

Source: Figures within the table are based on IFPI 2014 annual report.

IFPI 2013 data

Source: Figures within the table are based on IFPI 2013 annual report.

IFPI 2012 data

Source: Figures within the table are based on IFPI 2012 annual report.

IFPI 2011 data

Source: Figures within the table are based on IFPI 2011 annual report.

IFPI 2010 data

Source: Figures within the table are based on IFPI 2010 annual report. Total units figures are derived by addition of figures reported by referenced sources.

Global

Global means of or referring to a globe and may also refer to:

Entertainment

Companies and brands

Industry

Industry is the production of goods or services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry. When a large group has multiple sources of revenue generation, it is considered to be working in different industries. Manufacturing industry became a key sector of production and labour in European and North American countries during the Industrial Revolution, upsetting previous mercantile and feudal economies. This occurred through many successive rapid advances in technology, such as the production of steel and coal.

Following the Industrial Revolution, possibly a third of the world's economic output is derived that is from manufacturing industries. Many developed countries and many developing/semi-developed countries (People's Republic of China, India etc.) depend significantly on manufacturing industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence.