Small Budget Institution – Allegro Music.
Who are they?
Allegro were founded in 1982 in North America, and have since grown to become one of the largest Independent Institutions in North America.
They cover a broad range of music, including classical, pop, world and jazz.What do they do to help smaller artists?
Artists submit their work to Allegro, who in turn may offer them a record label. The company will sell their work via their online site, arrange concerts and try to promote the artist for wider recognition in the music world.
Why are they a small budget institution?
Allegro does not have the financial backing to offer multi-million pound labels to huge artists. Instead they target lesser known artists looking to make it big in the music industry. Despite their near 30 years of promoting, they haven’t grown into a huge, money making institution. This is what they say on their ‘about us’ page online: ‘We are a customer-focused organization committed to fostering strong working relationships with the labels we represent, the retailers we serve and the consumers that purchase our music direct’
Big Budget Institution – Sony Music Entertainment
Who are they?
SME are the second-largest global recorded music company, founded in 1929. It’s revenue in 2009 was over 1.3 billion dollars. Its headquarters are in New York, America.
What genre do they cover?
Various music genres, from artists like Alicia Keys and Beyonce to the Backstreet Boys or Foo Fighters. SME cover pretty much every genre imaginable.
How many artists do they give labels to?
Over 24,000 artists have labels with SME, which range from small and upcoming artists, to huge global artists.
What makes them a big budget institution?
Their revenue of over 1 billion dollars a year allows SME to contract thousands of artists. In the 80 years since its inception, SME has grown to be the second largest institution.