Consolidation is built into the nature of corporations. If some little upstart is eating into your market, it is easy enough to buy the upstart and add its market share to your own. Capitalism is a lot like Darwinism — put a little fish in the path of a big fish, and the big fish is compelled by its nature to eat it.
But even as little fish are absorbed into big fish, more little fish are being born.
There was a time in contemporary music when there were dozens of iconic record labels, each of which had a distinct identity. Even people who don’t follow music know what a Motown record sounded like. Asylum Records meant LA singer/songwriters; Stax Records was Memphis soul; Island Records began as a reggae label; and Sire Records practically owned New York punk.
Compare that to today, when Universal Music Group owns Capitol,...
But even as little fish are absorbed into big fish, more little fish are being born.
There was a time in contemporary music when there were dozens of iconic record labels, each of which had a distinct identity. Even people who don’t follow music know what a Motown record sounded like. Asylum Records meant LA singer/songwriters; Stax Records was Memphis soul; Island Records began as a reggae label; and Sire Records practically owned New York punk.
Compare that to today, when Universal Music Group owns Capitol,...
- 7/7/2021
- by Van Toffler
- The Wrap
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