Short answers, pulled from the story.
The phrase record label began as a physical description of the circular paper tag glued to the center of a vinyl disc. Early manufacturers printed their company name and catalog numbers on this small circle so buyers could identify who made the sound.
Warner Music Group, EMI, Sony Music, Walt Disney Records, BMG, Universal Music Group, and PolyGram formed this oligopoly. In 1999, PolyGram merged into Universal Music Group, reducing the count to six.
The Association of Independent Music defines a major label as any multinational company holding more than 5% of the world market for records or videos. Labels outside this threshold operate as independent entities even if they possess complex corporate structures.
Roger McGuinn testified before a US Senate committee in July 2000 claiming The Byrds never received promised royalties for Mr. Tambourine Man. This testimony highlighted common conflicts regarding ownership and control of music between artists and labels.
Modern business strategies known as 360 deals grant labels rights to touring, merchandise, and endorsements alongside traditional recording contracts. Atlantic Records offered a structure where an artist receives $200,000 additional payment for 30% of net income from all touring and fan-club fees.
ArtistShare launched in 2002 as the Internet's first record label funded directly by fans rather than corporate investors. Digital labels now compete against major record companies by offering direct-to-fan distribution models without physical manufacturing costs.