Major Label Consolidation refers to the ongoing process of mergers and acquisitions that has dramatically reduced the number of dominant record labels in the music industry. From the "Big Six" labels in the 1980s-90s (Warner, EMI, Sony, BMG, Universal, PolyGram), the industry consolidated to the "Big Four" after Universal's acquisition of PolyGram in 1998¹, then to the "Big Three" following Sony-BMG's merger in 2004² and Universal's acquisition of EMI in 2012³. This consolidation has concentrated market power, with the three major labels now controlling approximately 70-80% of the global recorded music market⁴.