The music industry is the business of performing, recording, and selling music through a number of different methods. There are various types of individuals that work within the industry, from musicians who create and play music to sound engineers who work to properly record music and producers who are in charge of the processes. Live performances of music are also a part of this industry. The industry in a certain location may be overseen by a number of different record labels and conglomerates. Musicians are often on the front line, sound engineers are usually involved with the process of recording music, and a producer will normally be involved with the production of an album. There are also many other positions within the industry that play a significant role in creating and selling music.
The large majority of this market is controlled by three major corporate labels: the French-owned Universal Music Group, the Japanese-owned Sony Music Entertainment, and the US-owned Warner Music Group. The music industry has been undergoing drastic changes since the advent of widespread digital distribution of music. Since 2000, sales of recorded music have dropped off considerably while live music has increased in importance.The largest music retailer in the world is now digital: Apple Inc.'s iTunes Store.
