The key components n the music industry includes the following;
- Artists and Composers who are the talent and performer.
- The Managers will take care of the performer and manage the business, Lawyers and negotiators will also go into this group.
- The record company will own the rights to the records and promote the talent for sales. The artists will then make royalties on the sales.
- A deal can be made with the distributor. During this time of digital progression, a lot has changed in terms of distribution of music and much retail has been transferred to the internet for sales.
- The media forms are essential for performance and promotion. There will be opportunities to play live to increase revenue and further promote the artist.
In the music industry there is a lot of competition to find the next better and better act but there is also greater and greater opportunity for artists to achieve global success. This is due largely to the internet and the trading of information, music, sounds and communication over the wide world web. All types of music can now be shared from one side of the globe to the next. With so many Spanish speaking nations, Latin music has an immense reach around the globe and has a strong market. With romanticised images since West side Story movie and stag play, there has always been an interest and demand for more Latino music and performers. Current pop stars and artists are succeeded not only in Latin charts but in America, Britain and many other countries.