A record label, or record company, is a brand or trademark associated with the marketing of music recordings and music videos. Sometimes, a record label is also a publishing company that manages such brands and trademarks, coordinates the production, manufacture, distribution, marketing, promotion, and enforcement of copyright for sound recordings and music videos, while also conducting talent scouting and development of new artists ("artists and repertoire" or "A&R"), and maintaining contracts with recording artists and their managers. The term "record label" derives from the circular label in the center of a vinyl record which prominently displays the manufacturer's name, along with other information.[1] Within the mainstream music industry, recording artists have traditionally been reliant upon record labels to broaden their consumer base, market their albums, and be both promoted and heard on music streaming services, radio, and television. Record labels also provide publicists, who assist performers in gaining positive media coverage, and arrange for their merchandise to be available via stores and other media outlets.
Record labels may be small, localized and "independent" ("indie"), or they may be part of a large international media group, or somewhere in between. The Association of Independent Music (AIM) defines a 'major' as "a multinational company which (together with the companies in its group) has more than 5% of the world market(s) for the sale of records or music videos." As of 2012, there are only three labels that can be referred to as "major labels" (Universal Music Group, Sony Music Entertainment, and Warner Music Group). In 2014 AIM estimated that the majors had a collective global market share of some 65–70%.[2]
