The previous big four has since fallen to three as Universal purchased EMI in 2012. Together they account for 88% of the global record industry, more than any go their competitors. This is just one example of how these major companies are expanding and increasing their status as conglomerates. More independent labels and smaller companies are buying into deals offered by groups such as Sony etc. This has a negative impact on smaller independent labels as they can struggle to compete with such established and wealthy competition. However, some can benefit from the large investment which can allow them to take on more talent and improve their studios. An example of this is Columbia Records. Columbia were an independent label at first and have boasted an array talent such as Bruce Springsteen, Bob Dylan and more recently Calvin Harris and Childish Gambino. However, Sony purchased Columbia for a substantial fee and now features as one of their primary sub-labels. This is a positive example as it allowed the company to expand and take on the upcoming and successful talents of recent years.

Consumption
In the early days of music consumption there were no alternatives to live music such as in bars or concerts to see a Jazz ensemble or an orchestral suite. However, when Thomas Edison invented the gramophone which allowed music to be recorded, this changed things. By the 1950's Vinyl records were mainstream. EMI mass produced and distributed vinyls as the first major physical format for listening to music, but as time progressed vinyls left the mainstream with new technology. However, nowadays things have changed again. Streaming is the main method of consumption. Websites such as Spotify and YouTube dominate music consumption. According to the IFPI’s (the International Federation of the Phonographic Industry) Music Consumer Insight Report 2017, 85% of YouTubers used the site for music in the month from when the information was gathered. This figure equates to roughly 1.3 billion people, several times larger than popular streaming sites such as Spotify. However, the report also showed that 76% of the users were listening to music that they were already familiar. It was their competitor Spotify that claimed the spot for introducing new music. Due to the incredible accessibility and content of these, it is doubtful that anything will take its place for a very long time. However, it is worth noting that physical sales, particularly vinyl are on the rise with the hipster trend. It is becoming increasingly popular to have and listen to vinyl records again. This can mainly be explained by the fact that it is becoming socially unpopular to listen to 'singles' now, many prefer to listen to albums, which is what the vinyl was essentially made for. 

Sustainability of Record Labels
There will always be a need for record labels, big or small. Whilst many artists are opting to self-publishing their work with the help of Spotify, it is very hard to achieve the level of professionalism and quality to make a successful impact on the industry. So long as there is new and upcoming talent that fits the current trend, the record labels have the funds to take them on and gain profit from the success for the foreseeable future.

Copyright and Possible Challenges
Being in the music industry can sometimes cost more than it gives. There are may expenses and problems that are likely to occur in the industry and it is important to consider solutions, or at the very least where to get some help and information. One such place is the musicians union. This organisation offer free advice on topics such as legal advice, copyright and fees to name a few. They also provide a special offer membership to students for the annual price of £20. This gives you extended help and advice, insurance on instruments and equipment up to £10,000 and liability insurance to the same amount. It is important to remember the demands that the progressing industry will also place on you. This may require you to upgrade your instrument and equipment in order to keep up with the competition.

Another organisation that offers help and advice is PRS for Music. PRS focuses mainly on helping artists claim royalties for their work. Whether it be played on the radio, used in television or played at an event, they will help ensure that you are duly paid for your music.

 

Copyright infringement can be a career ending occurrence if it happens. Copyright infringement is when a notable piece of work is used by someone without the consent of the creator or associate. A recent example of this is the song "Blurred Lines" (2013) by Robin Thicke and Pharrell Williams. The pair were found guilty of copyright infringement. The court awarded Marvin Gaye's children $7.4 million after concluding that the pair had taken content from their father's work.