The music industry is a vast global network encompassing individuals and organizations involved in creating, performing, recording, selling, and promoting music. Its modern structure emerged between the 1930s and 1950s as recorded music replaced sheet music as the primary product, with the market now largely controlled by three major labels—Universal Music Group, Sony Music Entertainment, and Warner Music Group—and live music giant Live Nation.

The early 2000s marked a dramatic shift due to widespread digital distribution via the Internet, causing a substantial drop in recorded music sales while live music gained importance. However, since 2011, the industry has experienced consistent sales growth, largely driven by streaming services like Spotify, Apple Music, and Amazon Music, which now generate the majority of its revenue.