Warner Music Group

Warner Music Group
Warner Music Group (formerly known as Warner Bros Records) is a multinational entertainment and record label company based in New York City, America. It is regarded as one of the 'Big Three' recording companies and the third largest in the global music industry (after Universal Music Group and Sony Music Entertainment). Warner Bros Records was formed by Warner Bros (a film company) in 1958 after one of their actors had a surprise number one song. Warner Bros wanted to ensure that its contracted actors couldn't make music with a different record label; Warner Bros Records was born! Warner Bros Records gradually developed and grew into Warner Music Group. Star artists signed to Warner Music Group include: Bruno Mars, Clean Bandit, Cardi B, Charlie Puth, Coldplay, Ed Sheeran, Gorillaz and of course Alvin and the Chipmunks (etc).

A (media) conglomerate is a company that owns several companies which are involved in mass media enterprises (e.g. - radio, television, theme parks, motion pictures, the internet etc). Conglomerates are normally large and multinational.

An oligopoly is a contrast to a monopoly. Whereas in a monopoly there is a single seller of a product or service, in oligopoly, there are a few sellers that produce slightly different products, and they work to keep competitors away; they do not let others to emerge as a player in the market and retain their dominance in their industry.

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