When you think of the state of Texas music, you think big.
It has the most expensive music markets in the country and is home to some of the world’s biggest record labels.
But you may not know the most important players in the Texas Music Industry.
What’s behind the closures of many of the biggest Texas music publishers?
The industry is in a precarious state.
In 2017, Texas’ largest music publishers went into receivership.
And in 2018, the largest record labels, including Warner Music Group, ATV Records, and Sire, filed for bankruptcy protection.
The last time Texas’ biggest music publishers had to close was in 2013.
They had to make a tough decision: keep their assets or sell them?
They had no choice.
The state has also been facing a record $1.8 billion budget shortfall.
So how did these two situations come about?
It’s no secret that the music industry is facing some tough times.
While the industry’s fortunes have been on the rise, the music business is facing major challenges.
With the music market in Texas on the brink of collapse, the Texas Attorney General is looking to the courts to intervene in the business of the music publishers.
At the end of 2018, they filed for Chapter 11 bankruptcy protection, which allows a company to liquidate its assets, shut down, and begin the process of winding down.
How many of these big record labels have gone under?
Since 2017, there have been five major record labels: Universal Music, Warner Music, Sony Music Entertainment, Sony Pictures Music, and TDE.
According to a 2016 study, Texas has one of the largest music marketplaces in the US, with about 10,000 record stores.
Many of these record stores are owned by major record companies, but others are independent music shops and labels.
They include: The Black Box, The Vinyl Store, The Record Store, the Roxy Music Shop, and The Record Shop, The Dallas Morning News reported.
These independent record stores have become some of Texas’ most prominent businesses, selling records and music from artists like Beyonce, Miley Cyrus, The Weeknd, and others.
However, these independent record shops can be plagued with problems.
Last year, a report found that independent record labels in Texas had problems with record labels that have more than one record label.
For example, the Dallas Morning Show found that at least two of the seven independent record store owners had been sued by independent record label labels and had settled with them.
Other problems are endemic: the lack of transparency in how the independent record industry is run, and the fact that there are no standards in place to ensure the health and safety of record store workers.
A spokesperson for Texas Attorney general Ken Paxton told The News that the Department of State has been working closely with the state’s Department of Licensing and Regulatory Affairs (DOLA) to help regulate the record industry in Texas.
He said that while there is a lack of consistency and transparency, he hopes to help ensure the industry is held accountable.