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in todays video I will break down a sample business plan for an independent record label executive summary our record label coach Sumo records will be a new player in the music industry with a focus on emerging artists and unique sounds that reflect the diversity of modern music our team has its ears to the streets and we have a clear vision of the type of music we want to promote we will offer artists a range of services including recording production distribution and promotion our goal is to create a sustainable business that supports artists while providing our audience with quality music that inspires and entertains market analysis the music industry is a competitive market but there is still room for new players who can offer something unique according to the International Federation of the phonographic industry ifpi the global recorded music Market was valued at 21.5 billion dollars in 2020. streaming continues to be the primary revenue source with a 56.1 percent share of globa
