Key terms.

Convergence
The coming together of multimedia digital data technologies allowing words, audio, video, graphics and animation to be linked and routed together via broadband to create two-way communications. The idea being to produce, distribute and share.

Synergy
Similar to convergence but used to describe how companies can pool their resources and exploit products in different markets.

Institution
Refers to the companies and organisations that provide media content and involves an understanding of media and business.

Audience
This refers to the way in which people engage with the media. The new digital media: convergence, user-created content and social networking have transformed the audience from a traditional 'mass' into a 'fragmented' definition.

Production
Recording music.

Distribution
Promoting music and getting it into shops, on the radio and downloaded for payment.

Consumption
People buying C.D's, downloading music, paying for live concert tickets and purchasing related products.

Vertical integration
Where a media company profits from all aspects of production, distribution and consumption.

Cross Media Ownership
The record company for your case study can be a mainstream major company, a multinational or an independant company.
There are the 'Big Three' - Sony/BMG, Warner Bros. Universal. But you need to compare and contrast these with smaller independant labels and music organisations, the music industry is much more open in this respect, with many small labels that contribute to around 20% of the market.