Universal Music Group (UMG)
With a 33.57% market share, Universal Music Group is the largest music company in the world. Headquartered in Santa Monica, California, the group operates under three main business segments: Recorded Music, Music Publishing, and Merchandising. UMG owns several popular record labels such as Capitol Music Group, Island Records, and Republic Records.
Sony Music Entertainment (SME)
Holding a 26.87% market share, Sony Music Entertainment is the second-largest global music company. Based in New York, SME operates through its two divisions: Recorded Music and Music Publishing. Some of its famous subsidiary labels include Columbia Records, Epic Records, and RCA Records.
Warner Music Group (WMG)
With a market share of 19.05%, Warner Music Group ranks as the third-largest music company in the industry. WMG is headquartered in New York and operates through three core divisions: Recorded Music, Music Publishing, and Artist Services. The company owns leading record labels such as Atlantic Records, Warner Records, and Elektra Music Group.
Independent Music Labels
Collectively, independent music labels hold a significant 20% market share of the global music industry. Thousands of smaller labels and self-released artists contribute to this market share. Some notable independent labels include Big Machine Label Group, Beggars Group, and XL Recordings.