There are currently three major record labels that dominate the global music industry: Universal Music Group (UMG), Sony Music Entertainment (SME), and Warner Music Group (WMG). These companies are often referred to as "The Big Three."

Together, these major labels control approximately 70% of the world's music market and represent many of the most successful recording artists globally. Here's a breakdown of each:

Universal Music Group (UMG)

• Largest of the three major labels
• Owns labels like Interscope, Republic Records, and Capitol Records
• Represents artists like Taylor Swift, Drake, and Lady Gaga
• Controls roughly 32% of the global music market

Sony Music Entertainment (SME)

• Second-largest major label
• Owns Columbia Records, RCA, and Epic Records
• Works with artists like Beyoncé, Adele, and Harry Styles
• Holds approximately 22% of the global market share

Warner Music Group (WMG)

• Third-largest major record label
• Controls Atlantic Records, Warner Records, and Elektra
• Represents Ed Sheeran, Bruno Mars, and Coldplay
• Commands about 16% of the global music market

Before 1999, there were six major record labels, known as "The Big Six." These included PolyGram, BMG, and EMI, along with the current three. Through various mergers and acquisitions, the industry consolidated to what we now know as The Big Three.

The remaining 30% of the music market is divided among independent record labels, often called "indies." While these smaller labels don't have the same resources as the majors, they play a crucial role in discovering and developing new talent and maintaining artistic diversity in the music industry.

In today's digital age, these major labels have adapted their business models to include streaming services, digital distribution, and various other revenue streams beyond traditional record sales, maintaining their dominance in the evolving music landscape.

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