Mercury Records is a record label owned by Universal Music Group. Founded in 1945 in Chicago, Mercury Records helped popularize jazz, blues, rock, and classical music. Some famous artists signed to Mercury Records include Billy Ray Cyrus, Iggy Azalea, Pixie Lott, and Elton John. Mainstream labels offer greater exposure, marketing support, and opportunities for monetary gain through concerts and sales, but they take a large percentage of artists' incomes and may own the rights to their music. Independent labels have less funding and influence but allow artists to retain rights to their music and develop close relationships with their label.