The biggest record labels in the world are Universal Music Group, Sony Music Entertainment, and Warner Music Group. These three major labels have produced over 50% of popular songs.
Universal Music Group
Universal Music Group is the largest record label company by 2018 revenue. It operates in 68 countries and has a market share of 32% of the global industry, more than all independent labels combined (31%). Some of its best albums are “Purple Rain” by Prince, which won Grammy Awards.
Warner Music Group
Warner Music Group brings in $5 billion yearly. Its well-known labels include Atlantic and Warner Records. Warner Records, founded in 1958, is one of only two Canadian record label survivors during America’s Great Depression.
Other Record Labels
The world’s highest earning hip-hop artist is Kanye West, who made $150 million U.S. dollars in 2019. Record labels own musicians’ music and sometimes control their earnings.
Def Jam Records, formed by Russell Simmons and Rick Rubin, is the most successful hip hop record company.
Republic Records, with artists like Ariana Grande and Taylor Swift, earns $18 million annually.