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Business Plan - R.I.P Squad Ent Business Plan Darryl...

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R.I.P. Squad Ent. Business Plan Darryl Williams Business Description The business I plan to start is an online record label. My business revolves around providing a service to both performing artists and their fans. My record label will be responsible for signing artists, developing talent, recording songs, promotion, publicizing and selling music. My label will act as a catalyst for the careers of artists, as well as become the liaison between the artists and their fans. Industry Analysis The music industry has been subject to a steady downturn for the last few years due to increased illegal downloads, piracy and shrinking shelf space in brick and mortar businesses. Physical record sales have been continuously dropping in recent years, while has online market has made subtle increases. Large record labels are making entrance into the market very difficult for small independent labels, but they are also taking majority of the risks. Universal Music has the largest share of the market at 31.4 percent, followed by Sony Music at 27.4, Warner Music at 19.8, Indies as a group at 11.6, and EMI at 9.6 percent. Apple and Amazon have also become competitors for record sales with iTunes having more than 60 percent of the market, while Amazon is a distant second. Competitive Analysis My main competitors will consist of Universal Music, Sony Music, Warner Music, and other independent labels. The large labels’ main strengths are their vast amounts of revenue and their appeal to artists, fans and businesses. Major labels also have decades of experience as well
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