The music industry serves both business to business (B2B),as well as business to consumers (B2C).A (B2B)is when two companies do business with each other. A (B2C) is when businesses to business directly with the consumer. The music industry licenses music, sells music, streams (leases) music all for a profit. The product here a in some way or fashion entertainment content.
Music streaming platforms such as, Apple, Spotify, Deezer etcetera need entertainment content to place on their platforms for fans to consume. Content can be anything such as, new music, early release music videos, (BTS) behind the scenes or Live concerts. This could be content that is solely to be exclusively released on that platform only. A (B2B)example would be; Apple Music bought the content rights from the music label Interscope Records to be able to release a live concert of Billie Eilish exclusively on Apple Music. These two businesses provided a service to each other to gain profit. This is something that is becoming more common where music platforms want to release exclusive content of artists so that they can have leverage over other platforms.
The Music industry also serves the industry as a business to consumer (B2C).To be specific, these same music platforms sell the music to consumers for them to be able to download or stream for a fee. For example, a consumer can go on Apple iTunes and purchase a downloadable song, or they can subscribe for a fee to Apple Music and stream (lease) an unlimited library of music.
This all comes full circle back to (B2B) because Apple Music / Apple iTunes has to then pay the artists music label a certain percentage out of each download or music stream called a royalty. The label then pays the royalty to the artist and that is one way that artists make money off their music.
Overall, the music industry is a business just like any other that needs to make money. This music business does this by licensing music, selling music, or streaming (leasing) music all for a profit. Music companies just like any other industry make transactions between themselves and another business (B2B) or between themselves and the consumer (B2C). In the end of the day there is an exchange for a profit.