The role of record labels is becoming increasingly difficult to understand and explain in the 21st-century. The problems facing the industry began when several high-profile artists began to call for a chance to reclaim control of their lives and careers. Whether it is The Stone Roses throwing paint over the offices of their former record label or Prince refusing to use his name and scrawling slave over his face, The Guardian reports there is a long history of artist and management disputes. The latest breed of record labels, such as Benjy Grinberg Rostrum Records are taking a more holistic approach to handle their artists.

1. Rostrum Records

Founded in 2003, Benjy Grinberg Rostrum Records has been changing the way record labels approach the music industry in the coming years. The different ways of working with artists being masterminded by Benji Grinberg at Rostrum Records includes creating one of the most successful YouTube channels in the world with more than half a billion views.

Much like the artists signed to his label, Grinberg does not like to be pigeonholed as a specific type of musical entrepreneur with the list of artists signed to his label growing to include rappers, Wiz Khalifa and Mac Millar. The American indie band, The Bee, and The Bird are also signed to the Rostrum label along with shoegaze musician Donora.

2. Universal Music Publishing Group

There can be no discussion about the top record labels in the world without a mention of the ultimate giant of the sector. The Universal Music Publishing Group has been expanding for decades and recently reached the point where it controlled 98 percent of the world’s released music. The company operates in 68 nations around the world and has a catalog of copyrighted music stretching back over 100 years.

3. Sony Music

The second-largest record label in the world has huge numbers of people working for it as it has grown to provide music in 50 countries around the world. The company has built its reputation as a developer of new music and for the impressive back catalog, it has developed over the last few years. Sony has remained at the top of the industry despite it having its future put into doubt by the revelations surrounding the estate of Michael Jackson and the music it holds the rights to by the late King of Pop.

4. Big Hit Entertainment

The rise of K-Pop has given rise to a new generation of a record label that is looking to change the way the people of the world access their music. For K-pop pioneers, BTS, the label of choice is Big Hit Entertainment, which is looking to become one of the leading innovators in the music industry by combining music, tech, and video. This label is expecting the future of music to move away from selling music alone to the development of its own social media platforms for its roster of performers and a dedicated avatar development app developer, according to AllKPop.

5. BMG Entertainment

Not since Tony Wilson of Factory Records signed a contract with New Order in his own blood giving them total control of their back catalog and financial future has the recording industry faced such a shakeup as that provided by BMG, The Guardian reports. The changing face of the music industry has made it harder for artists to remain financially secure as the streaming of sings has overtaken the traditional sales of albums. BMG Entertainment responded by making a change in the way they structured their contracts to give more money and control to their list of artists. In the past, record labels would profit from 80 percent of the sales made by an artist, but BMG Entertainment now takes just 25 percent of the profits from sales by its artists.

6. Warner Music Group

The last of the big three music corporations is the Warner Music Group which owns the rights to the music in 50 nations around the world. With more than 3,000 staff members, Warner Music Group was one of the last to embrace the evolution of the music industry, but when it did it began to embark on a range of strategic partnerships with stakeholders around the world. One of the biggest deals the company signed was a partnership with YouTube that provides access to the back catalog of the company for viewers around the world.