How black people are harmed by the racist music industry - Dr Boyce Watkins speaks with John Boyd

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Duration: 52:50 Views: 4.3K Submitted: 1 year ago Submitted by:

Description: Today I speak with John Boyd, an expert on the music industry and one of the founders of the hit group, Infinity's song. Here's a breakdown of the current structure of the music industry: As of my last knowledge update in September 2021, the music industry is dominated by three major record labels, often referred to as the "Big Three": Universal Music Group (UMG), Sony Music Entertainment (SME), and Warner Music Group (WMG). These companies are responsible for a significant portion of the music released and consumed worldwide, and they control music distribution and own or have influence over various radio stations. It is important to note that the information provided below may have changed since 2021. Universal Music Group (UMG): UMG is the largest music corporation in the world, with annual revenues of over $7 billion (as of 2020). UMG is a subsidiary of the French media conglomerate Vivendi. UMG's extensive catalog includes a diverse range of genres and artists. They have a significant presence in music distribution, with multiple subsidiary labels under their umbrella. UMG also has stakes in various radio stations and streaming platforms, giving them considerable control over music distribution. Sony Music Entertainment (SME): SME is the second-largest music company globally and is a wholly-owned subsidiary of the Japanese conglomerate Sony Corporation. In 2020, SME reported revenues of over $4 billion. Sony Music's portfolio includes numerous labels and artists across various genres. As a part of Sony Corporation, SME has strong ties with various entertainment platforms, including streaming services, radio stations, and television networks, thus ensuring a significant presence in the music distribution landscape. Warner Music Group (WMG): WMG is the third-largest music company in the world, with annual revenues of around $4 billion (as of 2020). In 2011, Access Industries, a privately held industrial group, acquired WMG. Warner's roster includes a wide range of artists and labels in various genres. WMG has strong distribution networks and strategic partnerships with radio stations, streaming platforms, and other media outlets, giving them significant control over music distribution. While these "Big Three" hold the majority of the market share in the music industry, there are also two other noteworthy players worth mentioning: Merlin Network: Merlin is a global digital rights agency representing independent labels and distributors. Although not a traditional record label, Merlin negotiates licensing deals and collects royalties on behalf of its members, playing a significant role in the digital music distribution landscape. Merlin's member labels represent tens of thousands of artists, giving them a considerable presence in the industry. Believe Digital: Believe Digital is a leading independent digital distribution and artist services company, with a focus on empowering independent artists and labels. While not as large as the "Big Three," Believe has gained a reputation for its innovative approach to the music industry and its commitment to independent music.