There are three major record labels that dominate the global music industry: Universal Music Group, Sony Music Entertainment, and Warner Music Group. Together, these companies control approximately 70% of the world's music market.

Universal Music Group (UMG) is the largest of the three, commanding roughly 32% of the global market share. Based in Santa Monica, California, UMG owns prestigious labels like Republic Records, Interscope Records, and Capitol Records.

Sony Music Entertainment ranks second, holding about 22% of the market. The company operates numerous prominent subsidiaries, including Columbia Records, RCA Records, and Epic Records.

Warner Music Group comes in third, controlling approximately 16% of the global music market. Some of its well-known labels include Atlantic Records, Elektra Records, and Warner Records.

These major labels are often referred to as "The Big Three," and they provide crucial services to artists including:

• Recording and production
• Marketing and promotion
• Distribution (both physical and digital)
• Publishing rights management
• Tour support
• Merchandising

It's worth noting that before 2012, there were actually four major labels. EMI was the fourth but was acquired and split between Universal Music Group and Sony Music Entertainment, creating the current three-label structure.

While independent labels make up the remaining 30% of the market, the Big Three's influence on the music industry remains unmatched. They sign the majority of mainstream artists and control most of the music you hear on commercial radio and popular streaming playlists.

The landscape is constantly evolving with the rise of digital distribution and streaming platforms, but these three major labels continue to maintain their dominant position in the global music industry.

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