Production is the act of creating output, a good or service which has value and contributes to the utility of individuals.
Distribution is the he way in which something is shared out among a group or spread over an area.
Marketing the process of promoting and selling a product or service based on decisions about what the product image should be and who is most likely to buy it.
Consumption is the using of a resource.
The music industry is the business of performing, recording, and selling music through a number of different methods. There are many different types of people involved in this industry, from musicians who create and play music to sound engineers who work to properly record music and producers who oversee the entire process.
File Sharing is the practice of distributing or providing access to digitally stored information, such as computer programs, multimedia (audio, images and video), documents, or electronic books.
Vertical Integration is the combination in one company of two or more stages of production normally operated by separate companies. One of the earliest, largest and most famous examples of vertical integration was the Carnegie Steel company. The company controlled not only the mills where the steel was made, but also the mines where the iron ore was extracted, the coal mines that supplied the coal, the ships that transported the iron ore and the railroads that transported the coal to the factory, the coke ovens where the coal was cooked, etc. The company also focused heavily on developing talent internally from the bottom up, rather than importing it from other companies. Later on, Carnegie even established an institute of higher learning to teach the steel processes to the next generation.
Synergy is the working together of two things to produce an effect greater than the sum of their individual effects.
Convergence is the occurrence of two or more things coming together.
Copy right is the exclusive legal right, given to an originator or an assignee to print, publish, perform, film, or record literary, artistic, or musical material, and to authorize others to do the same.
Conventions the rand predictable forms and techniques used by the media to communicate certain ideas or to convey a desired impression.
Demographics are common characteristics used for population segmentation including age, gender, post code and income
Download means is to copy data from one computer to another.
Hardware is the machines, wiring, and other physical components of a computer or other electronic system.
Independent means to be free from control and authority.
Subsidiary is a company controlled by a holding company.
Horizontal Interrogation is the absorption into a single firm of several firms involved in the same level of production and sharing resources at that level. An example of horizontal integration and external growth: Virgin Active (which is majority owned by Branson) has agreed to pay £77.6 million in deal to buy 55 Esporta gyms - a move that will nearly double Virgin Active’s size in the UK. The scale of the takeover means that it will need to be cleared by the Competition Commission, but no signs as yet that the competition authorities will block the deal.
The big 3 refers to the largest companies in the industry at any one point in time. At this moment in time these are Warner Music Group, Universal Music and Sony Entertainment.