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Since the emergence of digital technologies in the 1990s the music industry has been in a state of constant disruption. In a world where multiple media compete for the attention of individuals through multiple channels, the ways people all over the world are now creating, distributing, and consuming music seem to be more diverse than ever. This note describes the current state of the industry, the value chain, its actors (artists, music labels, distributors, and others), and the existing -and emerging- business models.