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320 Cards in this Set
- Front
- Back
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what is artist royalty? |
the percentage of income generated by record sales that is paid to the artist |
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role of the personal manager |
general manager and chief operating officer (COO) |
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7 most important aspects of a personal manager's job |
1) helping you with major business decisions 2) helping you with the creative process 3) promoting your career 4) assembling and heading your professional team 5) coordinating your concert tours 6) making sure your record company maximizes the advertising and marketing campaigns for your records 7) being a buffer between the you and the outside world |
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what percentage of an artist's earnings does a manager get? |
typically 15-20% |
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exclusions |
it is possible to exclude or reduce some of the manager's earnings in areas where you are already established. (ex: an established songwriter hiring a manager to help them become an artist. the manager gets 15% of your earnings as an artist, but little to none of your songwriting earnings). |
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Deductions / Pass Throughs |
monies deducted before computing the manager's percentage (ex: recording costs, monies paid to the producer of your records, co-writers, tour support, costs of collection, sound and lights, opening acts). |
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Term |
the period of time in the agreement that the manager will work for you (usually geared towards album cycles rather than a number of years) |
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album cycle |
the period of time from the beginning of recording an album until the end of the touring and promotional activities surrounding it. |
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How to terminate the manager... (2 Ways) |
1) letter from the artist to the manager containing legal words that translate to "You're Fired." 2) A shorter management deal that gets renewal if the artist achieves certain earnings. If the artist achieves the minimum earnings required in the contract, the manager continues. |
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what do managers get paid on after their term is up? |
sales on records made during the term of the management deal. |
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sunset clause |
spells out the terms for ending or reducing the manager's commission after the term. ex: a typical sunset clause says that the manager gets paid on earnings after the term only if they are generated under contracts entered into or substantially negotiated during the term. |
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power of attorney |
a document that authorizes one person (the manager) to act on behalf of another person (the artist). ex: sign your name to contracts, hire and fire representatives, cash your checks. |
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Types of power of attorney |
durable, general, and special |
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Durable Power of Attorney |
a power of attorney set in place when the person becomes incompetent or unable to manage his/ her affairs. Basically gives a person complete control over your life. ex: used to take care of grandma and her affairs |
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General Power of Attorney |
a power of attorney that authorizes a person to carry on business or an enterprise for another person. |
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Special Power of Attorney |
a power of attorney that authorizes a person to carry out a specific business transaction for another person. |
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Key Man Clause |
says that your manager must act as your manager or else you can terminate the deal. You can terminate the deal if... 1) your manager dies or is disabled 2) your manager leaves the company 3) your manager takes off of your account |
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Double Commission |
You want to make sure your manager does not get double commission (in other words, double dips from the same money). |
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"Step Deal" Sunset Clauses |
A typical sunset clause in which after the management term ends, the manager recieves 100% of fee for 1 year, then 50% of fee for 1 year, then 25% of fee for 1 year, and then nothing more. |
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Business Manager |
the person on your team who handles all of your money. They collect it, keep track of it, pay for your bills, invest it, and make sure you file your tax returns. The business manager acts as the Chief Financial Officer (CFO) of your business. |
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How do you pay a Business Manager? |
Typically it is a flat fee, hourly rate, or combination of both. |
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Cap |
maximum fee |
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Do Business Managers need to be licensed? |
No. |
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What should you look for in a lawyer? |
A good relationship with the industry. |
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Value Billing |
when the deal is finished, the lawyer asks for a fee based on the size of the deal and his/ her contribution to it. |
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Retainer |
a set monthly fee |
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conflict of interest |
when two clients of the same lawyer want to sue each other or when two clients of the same lawyer make a deal with one another. |
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What happens when a lawyer has a conflict of interest? |
lawyers are required to disclose conflicts of interest. |
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What are the 2 choices you have in a conflict of interest? |
1) hire another lawyer 2) ignore the conflict and continue to use the same lawyer |
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Agents |
Book live appearances (concerts). Music agents are sometimes involved in commercials, tour sponsorship,television specials, and other areas but agents DO NOT participate or get paid for records, songwriting, and merchandising |
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The Two Major Unions |
AFM (American Federation of Musicians) and AFTRA (American Federation of Television and Radio Artists). AFM is the "musician's union." It includes instrumentalists, arrangers, copyist, conductors, band leaders. AFTRA members include lead vocalists, radio and TV personalities, announcers, and jingle singers. |
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How do you join AFTRA? |
Initiation fee. There is NO AUDITION! But, you must do at least one AFRTA gig |
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How do you join AFM? |
New Member Dues. THERE IS NO AUDITION! |
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Who are agents regulated by? |
The unions (AFM and AFTRA) The unions put a cap on how much the agencies can charge. |
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Signatory License |
A uni-lateral (one way) agreement between the union and the label or producer in which the licensee (label or producer) agrees to use only union musicians for master recordings and otherwise abide by union rules in dealing with musicians. In order for a record label or record producer to have access to union musicians they must have a signatory license. |
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In order for a Record Label or Record Producer to have access to Union Musicians they must have a _____________________ |
Signatory License |
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All the major labels and distributors are __________ |
Signatories |
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How do you get a Signatory License? |
Apply to the union, show purpose or use, demonstrate financial reliability and responsibility. |
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Scale |
The minimum wage a union member may accept to perform. Scale is set by the union and varies depending on use: Demo, live, master recording sessions, etc. Musicians may ask for more, but may not take less than scale. |
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How many unions can you be a member of? |
as many as you want! |
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Franchising |
The union regulation of agencies |
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Monies that can be excluded (exclusions) from the commissions of the agencies are... |
earnings from songwriting, commercials, book publishing, merchandising, and record producing (unless the agents have found you work in any of these areas), and costs of collection |
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How do you terminate the agency? |
If AFTRA or AFM agreement fails to get you work (in the music area) for 90 days. |
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Distributor |
the wholesaler that sells physical copies of your records to the stores |
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If you sign with a major record label (Warner Bros, Columbia, etc.) and hand in your recordings, the company gives your records to a ______________. The record company then gears up its advertising and promotion, etc. |
distributor |
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The 10 major divisions of a fully staffed record company... |
1) A&R (Artist and Repertoire) 2) Sales 3) Marketing 4) Promotion 5) Product Management 6) New Media 7) Production 8) Finance 9) Business Affair/ Legal 10) International |
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1) A&R (Artist and Repertoire) |
the people with "ears" that find talent and work creatively with the artists. |
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2) Sales |
get your records into the stores and onto digital sites. |
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3) Marketing |
Advertising, publicity, album cover artwork, promotional videos, web campaigns, promotional merchandising, etc. |
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4) Promotion |
live for the purpose of getting your records played on the radio |
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6) New Media |
in charge of all things digital as well as figuring out new ways to deliver music |
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7) Production |
manufacturing, cover printing, assembling, and shipping physical product (CDs) to distributors. |
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8) Finance |
compute and pay your royalties -and keep track of the company's income and expenses. |
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9) Business affair/ legal |
responsible for the company's contracts, not only with the artists, but also with digital service providers, foreign licensees, etc. Business affairs people negotiate the deals and make the decisions. The legal department gives legal advice and drafts the contracts. Sometimes Business affairs and legal are the same people. |
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10) International |
Coordinates the release of your records around the world, and oversees all the functions listed above in foreign territories. |
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Major Distributors |
gigantic distribution networks that coordinate digital distribution and move records from manufacturing plants into the stores. |
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Who are the Big 3? |
The three major distributors: Universal, Sony, and Warner Music Group. The distributors are owned by the major label's parent companies. * Sony and Universal bought EMI. |
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Independents |
record companies that aren't owned by a major. They come in 2 kinds: Major Distributed Independents and True Independents. |
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Major Distributed Independent |
an independent entity that has little to no staff, but signs artists and makes a deal with a major label to perform all functions except recording the records. The main thing these companies bring is the ability to find talent and beat the distributing company to make sure their product gets promoted. Product released by these companies may be on the independent’s own label or on the distributing company’s label. |
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True Independent |
A true independent is not owned by a major label, but rather is financed by its owners or investors. True independents distribute their records through independent distributors, which are set up to deal with the specialized needs of independent companies. |
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How does a major distributor run an independent one? |
They use the same infrastructure to do the shipping, paperwork, etc. but they have different sales staffs for the indie product. The whole indie distribution company is geared to a smaller scale, meaning that the employees are paid commission and bonuses based on what they can do. |
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Big box retailers |
Where most of the CDs in the US are sold. Most of them only carry the top selling titles. (Got their name because their stores are in the shape of big boxes. Ex: Wal-Mart, Target, BestBuy) |
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Who is the biggest retailer of music in the US |
iTunes |
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Brick and Mortar retailers |
pure record stores(almost extinct because there aren’t enough CD businesses left to support them) |
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Why join a record company? |
When you make a deal with a record company, you give up control of your recordings, as well as other aspects of your life(ability to do music for films, commercials, concert videos, etc.) and a chunk of your income from both record and non-record areas. So why join? Because they have staff with experience in marketing and promotion. Today in order to be successful, you 99%of the time need radio airplay and the experience and resources of a record company. |
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What is a record? |
A device capable of transmitting sound alone, or sound with visual images. Records are any kind of delivery of music for consumer use. |
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Master |
the original recording made in the studio (Master meaning “Master copy” from which all other copies are made). A master is also a recording of a particular song |
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Multitrack |
each instrument and voice part is recorded on a separate track or channel |
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Editing |
cutting out the parts you don’t like |
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What happens to the master when the recording is finished? |
the master is edited,mixed, and EQ’d. |
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Mixing |
getting the right level for each track |
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EQ (Equalizing) |
means that the bass, midrange, and treble are adjusted to the right level so that no one overpowers the others. |
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Cuts |
the individual recordings on a record |
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wholesale price |
the PPD (published price to dealers) or BPD (base price to dealers) |
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How are royalties computed? |
The artist turns the recordings over to the record company who then sells the finished product. For each record sold, theartist gets a piece of the price, and the company keeps the rest to cover itscosts and make a profit. The artist’s royalty is a percentage of the wholesale price. Each royalty percentage is known as a point soif you have 10% royalty, you have ten points. You multiply your royalty percentage times the wholesale price to find out the number of pennies you’ll get. (ex: CD wholesale price is $10. Royalty rate is 10%. $10 x 10%= $1) |
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Promo Records |
Records given away for promotion, such asradio-station copies, contest giveaways, etc. *They are also free goods and don’tbear any royalties. |
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Free Goods |
Royalties are paid for each record sold. The companies give away free goods, also known as special campaign free goods. This started when the companies wanted to push out large numbers of an artists’ album. To get the stores to stock more of it, they gave away 10% or more of allrecords shipped. The record company doesn't get paid for the free goods so they don't bear any royalties. |
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Booking Agent |
Involved almost exclusively in booking live personal appearances, sometimes including commercials, tour sponsorship, and television specials. |
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Break Even |
The point at which income equals expenses. |
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Cartage (in concert terminology) |
Removal of garbage after a concert |
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Comp Tickets |
Free tickets given to promote the concert |
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Contract Rider |
The part of the artist/promoter contract that deals with the personal and technical requirements of the artist. |
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Exclusivity |
Unwritten venue territory. When one party, an artist, is not allowed to deal with another, like a second manager, record label, or agent |
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Firm Offer |
When contracts are signed and the deposit check clears |
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Food & Beverage |
Concessions |
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Four Walling |
Most basic level of services available from a venue... Heat/ A/C House lights House security |
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Gross Potential (GP) |
The amount of money a concert will generate if all available tickets are sold. |
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Guarantee |
Theminimum for which the artist will perform live. Varies by venue size as well as by artist. |
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Headliner |
the main attraction |
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Load In/ Load Out |
Thetime it takes to set up and take down all of the equipment. Loadin takes 5 to 6 times as long as load out |
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Local |
the local labor union |
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100% Star Billing |
Headliner must get "top billing" on all tickets, ads, press releases etc. Promoters can get samples from agencies |
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Opening Act |
Usually determined by the agency, although the promotor may make suggestions. This prevents the promotor from using cheap local talent. The opening act may require approval from the headliner. |
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PC |
percent or percentage- usually of the gate or the split after break-even |
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PR |
public relations |
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Packaging |
putting together the tour (ex: what cities, venues, and dates), selecting which bands will tour together |
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proscenium |
the area of the stage located between the curtain and the audience |
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proscenium arch |
the part of the theater or staging that separates the stage, or back stage area from the proscenium and the audience. |
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Rigger |
the person who flies (suspends) the lights and/ or sound system from the superstructure of the venue. |
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Road Manager |
Responsiblefor all the daily business decisions for conducting the tour. The road manager reportsdirectly to the artist and the personal manager |
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Scaling the House |
Assigning ticket prices |
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Ticketmaster |
Anindependent agency in the business of providing ticketing service for venuesand promoters. |
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Ticket Manifest |
A (computerized) list of each and every ticket and its assigned price. |
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Union Steward |
The labor union representative for the local labor union |
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Return Privilege |
Physical records are sold on a 100% return privilege. This means that if a retailer orders 100 records from RCA but cant sell them, it can bundle them up, ship them back to RCA, and get credit for (or a refund of) the price it paid. Records have to be pushed out quickly in large numbers, and the retailers aren’t willing to take the risk of getting stuck with too many of them. |
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Reserves against returns |
Because records are sold on a 100% return basis, companies don’t know whether the records will sell to customers, or get returned by the retailer. Because the records may comeback, the companies keep a portion of the royalties that would otherwise be payable to the artist until they know whether the sales to the retailer are final. This holdback is called a reserve against returns. |
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Liquidating the reserve |
If a company ships 100,000 records of an artist,they may only pay the artist on 65,000 of these and wait to see if the other35,000 are returned. At some point in the future, the monies are paid through to the artist. The technical term for the pay is called liquidating the reserve. Of course, if the records are returned, the reserves are never paid to the artist because the sales are canceled and the royalty is never earned. |
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What do the size of your reserves mean? |
The size of your reserves varies with how well the company thinks the album will sell, and how well it thinks your next album will sell. If they think your next album will sell extremely well, they wont be as concerned with holding big reserves because if they hold inadequate reserves and overpay you, they can always take the money back from your next album. Ifyou’re a new artist and they’re not sure there is even going to be anotheralbum, they will give big reserves. Ex: if the reserve is35%, the amount payable to you would be: Artist Royalty:$100,000Less: 35% reserve:-$35,000Amount payable to artist: $65,000 |
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Are there reserves on digital sales? |
No, because there is noinventory in the digital retailer’s hands. The inventory is only created when asale is made. |
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Phony Free Goods (technically called normal distributor freegoods) |
in the last years of the old system, few companies actually gave away 15% of the records they shipped. When it was done, those records were known as phony free goods because these companies charged a higher wholesale price than those who didn’t, and the difference was the percentage of “free goods” (like the buy 2 drinks for a dime, get two free anecdote) |
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How does a recordcompany advance work? |
The company pays a sum of money to the artist, and then keeps the artist’s royalties until it gets its money back. |
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Recoupment |
process of keeping the money to recover an advance. Ex: we say an advance is recoupable from royalties. |
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What is the amount of unrecouped monies called? |
The amount of unrecouped monies is called your deficit or red position (like red ink to signify your business loss. Once you recoup, you are said to be in the black.) |
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What can be recouped? |
Monies paid directly to the artist are not the only recoupable monies. Recording costs are also recoupable from royalties,and so are some portion of video production costs,independent promotion costs, monies paid on behalf of the artist (ex: to buy equipment or to support a personal appearance tour), and anything else that isn’t nailed down. Recoupable recording costs include everything you can think of (ex: studio time, equipment rental, travel, arranging, instrument transportation, union scale that is paid to you and others to perform at recording sessions, etc.) |
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What happens if you don’t sell enough records toget back the full amount of the advance? |
With very rare exceptions, advances are non-returnable (meaning it is totally the record company’s risk. So if you don’t sell any records, it will never get back its advances. This nonreturnable aspect is also significant because it means that advances are taxable income when you get them, as opposed to when they are recouped.) |
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Cross-collateralization |
the record company’spractice of using profits from a current album to recoup debt from previousalbums. (NEVER GOOD FOR THE ARTIST) |
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Gold Album |
sells 500,000 U.S. units (digital and CDs) |
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Platinum Album |
sells 1 million U.S. units (digital and CDs) |
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Bullet |
Each of the major trade magazines has charts that rank records numerically based on sales and/ or airplay. A bullet is a dot or star next to a record’s number on the chart, and it means that the record is moving up strongly. The lack of one means its weakening or going down. “Number 1 with a bullet” is the best you can do. |
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Escalations |
escalated royalties based on sales. Escalations are typically limited to sales in the US but as your bargaining power increases you have the ability to get escalations in other territories outside the US. |
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Prospective escalations |
escalations that only apply to sales occurring after the level is reached |
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Retroactive escalation |
escalations from prior sales. This is very rare. Usually only applies for stratospheric sales ( ex: at sales of 4million units, you might get an increase on the first million) |
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All-in |
the artist is responsible, out of his or her own royalty, for paying the record producer and mixer |
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Net rate |
what the artist puts in his/ her pocket. The netrate is the all-in rate minus the amount paid to producers and mixers |
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Funds |
a set amount of money which includes both recording costs and any amounts that may be payable to the artist as an advance (the term recording costs also includes the producer’s advance). Whatever the artist doesn’t spend on recording costs that goes intohis/ her pocket is called an advance. (ex: if the recording fund for an albumis $200,000 and the recording costs are $150,000, the artist pockets $50,000 asan advance) |
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Formula |
most record companies will agree to something called a formula for advances. A formula is a mechanism designed to automatically increase or decrease your deal if you are successful or a flop. (ex: your advance for the second album is equal to a percentage(usually 60% to 70%) of all royalties earned (as opposed to paid) by the first album under the agreement. The advance for album 3’s earnings is a percentageof album 2’s earnings and so forth.) |
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What if album 1 is aflop and you don’t have enough of an advance to make the second album? |
This is handled by establishing a floor in the formula. A floor means that no matter how bad the earnings of the previous album, your fund will be no less than an agreed amount(the floor). |
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Floor |
an agreed upon minumum amount of money to fund your next album |
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Ceiling |
no matter how successful the previous album was,your fund wont exceed an agreed upon number (ceiling). |
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Subfloor |
a floor below the floor set up incase you areunrecouped (in the red). |
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360 deals |
Record companies get a piece of the artists’ "pie" from touring, songwriting. Merchandising, fan clubs,sponsorship money, motion picture acting, etc.) If you have enough bargaining power, you may be able to trim back the deal. Some artists can get a“180 deal” meaning the record company only gets records and a share of another income stream Or a 270 deal: records + 2 other income streams . |
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Passive interest |
the record company’s 360 share is usually what is called passive interest, meaning that the company has no control over the rights involved. Which means that you make whatever kind of deal you want and then write a check for the record company’s share.(ex: you’re free to make any kind of songwriting deal, with any publisher you choose, without the record company’s input. When you get paid, you send over the record company’s piece) |
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Active interest |
the record company’s 360 share is called activeinterest when they have some of the rights involved. (Ex: The record companymight insist that you as a songwriter sign with a publishing company that theyown or that is owned by the same company that owns the record company.) |
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Parent company |
the company at the top that owns the other companies. (ex: Parent company owns a record company and publishing company. The record company and the publishing company are its children). |
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Another variation of the 360 deal... |
Another variation of the 360 deal which is not that common involves setting up a separate entity that is co-owned by the record company and the artist.The artist then gives their 360 rights to this entity, which collects the money and then distributes the net proceeds to the artist and record company in the agreed percentage. |
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Pay-or-play |
Most record deals don’t require the record company to make a record. Pay-or-play is a provision that states that the record company, instead of recording the album, can pay off the artist a sum of money equal to minimum union scale for an album or (after negotiating) either the difference between the recording fund and the cost of the last album, or a pre-negotiated set fee. It is called pay or play because the record company has the option to either play your music or pay you off. |
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Firm albums |
albums to which the company is committed. Theothers are called optional or option albums. |
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Demo deals |
the record company spends some money for you togo into the studio and record demos. Demo is short for demonstrative recording,which is less than a full-fledged master but gives the company some idea of what you’ll sound like on a professional record. The record company listens to the demo and decides whether they want to sign you to a full-blown record contract. |
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Development deal |
essentially the same as a demo deal but the company spends more money. Under development deals, they sometimes record a few masters. After the recording is done, the company decides whether they want to go forward with you. |
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Term |
how long the recordcompany keeps you under an exclusive agreement is called the term of your deal.(also known as period) |
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Is it possible for record companies to extend your term? |
Record companies historically had the right to extend the term of an agreement if an album wasn’t delivered on time. Nowadays the terms of record deals aren’t stated in specific time periods like one to two years. The contracts say that each period ends six to nine months after the delivery of the last album required for that period. Now you’ll also find provisions that say that if an artist doesn’t deliver an album within a certain period of time after delivery of the previous album, the company can get out of the deal. |
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Many record companies make deals based on _________ rather than albums. |
masters |
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Delivery requirements |
Record companies alsoset up delivery requirements. Delivery,meaning you have to deliver a bunch ofother stuff along with the album (artwork, licenses for songs, deals withproducers, etc.) and the company has toaccept the recordings as complying with your deal. |
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There are 2 different types of delivery requirements based on your deal. These are... |
Commercially satisfactory and Technically satisfactory |
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Commercially Satisfactory |
if your contract says you must deliver commercially satisfactory recordings, it means that the record company only has to take recordings that it believes will sell. If they don’t like your record they will either send you back to the studio (at your own expense) or take the position that you haven’t delivered the album on time and terminate the contract. |
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Technically Satisfactory |
If your contract says you only have to deliver technically satisfactory recordings, then as long as a recording is technically well made, the company has to take it. |
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Other delivery critera |
1. Must be Studio recordings as opposed to liveconcert recordings 2. Must have been recorded during the term 3. Not songs previously recorded by you 4. Must be Recordings that feature only your performance 5. Not wholly instrumental sections (unless you’re an instrumentalist) 6. Original material that doesn’t get the company in trouble 7. Songs of a minimum playing time (usually 2minutes) *You also have to deliver all the legal rights they need to exploit your recordings. |
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Guaranteed release |
a clause that lets you get out of a record deal if a record company does not release your record.You can also get the right to buy back the album If within a certain period of delivery (usually 90 to 120 days) the company hasn’t put out your album, you have the right to send them a notice.After receiving this, the company has another period to put out the album. If they still havent,Then you can terminate the deal. Guaranteed releases only let you get out of your record deal if the company hasn’t released your record in theUS. |
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True Independents |
label that operateson its own (without the funding of a major record label) |
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Production company |
A record company that is not a distributor. Ifyou are recording for a production company, make sure to put a clause in youragreement that says that the company must enter into an agreement to distributeyour records. |
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Three Kinds of Producers |
Staff, Independent, and Executive |
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Staff Producers |
Work for the label or publisher. They are assigned projects and paid a salary. |
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Independent Producers |
They are not affiliated with any one label or publisher, but they may do work for them. |
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Major Independent Producers |
The very best producers. They are sometimes affiliated with a label as a vice president or other executive position. They may oversee other producers on the same project. |
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Producer |
brings the creativeproduct into a tangible form (a recording). Producers are responsible formaximizing the creative process (finding and selecting songs, deciding onarrangements, getting the right vocal sound, etc.) and taking care of all theadministration such as booking studios, hiring musicians, staying within abudget, filing union reports, etc.) |
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Production Coordinator |
handles the mechanical aspects of administration(calling the musicians, doing the paperwork, etc.) |
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A&R |
responsible forfinding and signing talent, finding songs, matching producers and artists, andgenerally overseeing projects. |
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How are producer royalties calculated? |
Producers are at somepoint paid for all records sold, meaning that recording costs are not chargedagainst their royalties (recording costs are always charged against artist’sroyalties) producers have to recoup the advances they put in their pocket, butonce recording costs are recouped, the producer is paid from the first recordsold , and this payment is retroactive because the company “goes back” and payson sales previously made that didn’t bear royalties at the time of the sale. Producers aresometimes paid prospectively after recoupment at the combined rate, which meansthat once the recording costs are recouped at the all-in rate (ex: the combinedartist and producer rate), you get paid on sales after that point. |
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How are a producer's advances calculated? |
These advances are recoupable from theproducer’s royalties. Advances do not include recording costs. |
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Do producers get paid for audiovisual exploitations (DVDs, streaming videos, etc.)? |
producers generallyget half of their otherwise applicable rate. This is because the master is onlyhalf the product. The video portion (which they did not create) is the otherhalf. |
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Who hires the producer? |
The artist. |
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Who makes the contract with the producer? |
The artist. |
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Who pays the producer? |
The artist. |
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Mixers |
people who take multi-tracks and blend themtogether and rework them. |
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Physical records (CDs) are distributed by four main methods. Name these methods. |
wholesaledistribution entities, one-stops, rack jobbers, and licensees. |
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Digital Revenue is _____ % of the business in the United States |
50 |
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Wholesale Distribution Entities |
record wholesalersare the major means of distributing records. They’re just like wholesaledistributors in any business. They buy from the manufacturing company and sellto retail stores. |
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One-Stops |
the one-stops buyfrom the major distributors and then sell to “Mom and Pop” record stores, whobuy quantities too small for the majors to bother with. The one-stop buys inbulk (like a big retailer, so the majors will sell to them), and then sellsonesies and twosies to the stores at a markup. |
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Rack Jobbers |
people who lease floor space from departmentstores and put in “racks” of records. Wal-Mart and Target don’t actually sellyour records. They turn the space over to someone who decides what product tocarry, delivers it to the racks, pays rent to the store, and keeps the profits. |
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Licensees |
records are alsodistributed by licensees. A licensee is someone who signs a “license agreement”with a record company, which allows them to actually manufacture and distributerecords, as opposed to buying and distributing the goods manufactured by therecord company. (Ex: a U.S. company licenses a foreign company the right tomanufacture and distribute records in their territory. |
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United States Normal Retail Sales (aka USNRC: United States Normal Retail Channels) |
The royalties forrecords that are 1) a CD or a digital download that is sold in the UnitedStates and the sale is at full price, through normal retail channels, and bythe company’s normal distribution channels (meaning the customary wholesaledistributor) are known as United States normal retail sales. |
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Major territories |
a number ofterritories in which American product sells particularly well. They vary fromartist to artist but in general they are UK, Australia, Italy, Japan, Holland,Germany, and France. |
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R.O.W. |
stands for rest of world and means all of thecountries left over. royalties for these run around 50% to 66% |
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One-way |
digital sales arewhat the industry calls one-way because they can't be returned. |
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SoundScan |
a company that measures how many records aresold at retail. They do it by reading the cash register data of reportingstores, as well as by tracking online sales. SoundScan’s data is used forBillboard’s charts and is also sold to record companies and other users.SoundScan isn’t 100% accurate for physical sales, but it is still the mostaccurate measure we have for physical goods. |
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Special markets or Catalog Division |
all of the major record companies have what is called a special markets or catalog division,whose job is to take existing recordings and come up with ways to squeeze money out of them. (ex: they promote the use of their masters in motion pictures,pitch them for commercials, put together compilation records, etc.) |
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Electronic transmission |
any transmission ordelivery to a consumer, whether sound alone or with other data, by any meansnow known or hereafter discovered, whether on demand or not, and whether or nota charge is made for the transmission or delivery. |
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Electronic transmission royalties |
Digital downloads:digital download also known as (DPD: digital phonorecord delivery) is atransmission to the consumer that allows the buyer to download music for lateruse. |
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What are the 2 kinds of downloads in the eyes of record companies? |
Tethered downloads (aka conditional downloads) and permanent downloads |
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Tethered Download (aka Conditional Download) |
the service providerdoesn’t give you complete control over the download. (ex: you can download itto your cellphone but not another device, or as long as you subscribe to theirservice and pay them a monthly fee, you can download as much music as you wantand listen to them at any time.) |
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Permanent Downloads |
yours forever. You can copy it, burn it,whatever. But at the bottom the End-User License Agreement says “the downloadsare only for your personal non-commercial use) |
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Non-interactive webcasting |
streaming on theinternet. You can only hear what the programmer decides to play (just likeradio stations). Most common non-interactive webcasts are local radio stations(AM, FM, or over-the-air stations) that stream their programming on the Internet. (ex: Pandora) |
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streaming on demand |
It is an interactiveservice. You can pause, skip, rewind, and create playlists but you cannot copythe songs. (ex: Spotify) |
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Locker |
a place where you store your music on someoneelse’s server and then stream it to yourself whenever you want.There are 2 different locker models: purchasedcontent lockers (like Amazon and Google) that require you to upload your musicand then allow you to access it from wherever you want. There are also Fulllockers (like Apple) that don’t require you to upload. It transfers over acloud. This process is called scan and match. |
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Bundled service |
a combination ofproducts (a “bundle” of products) that you get for a single price. (ex: Satellite Radio. Sirius XM is the bigone. For a monthly fee, you get music via satellite radio as an audio channelon your television. These services are non-interactive.) |
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Podcasting |
download of a program,such as an interview with an artist, maybe with some songs interspersed.Usually it is free to the user, as the websites sell advertising around it. |
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Another name for a small independent record store? |
A Mom and Pop |
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The concept that an artist can have only one personal manager? |
Exclusivity |
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Arbitron |
a consumer research company in the United States that collects listener data on radio audiences, and checks to see who's reaching the most people via the radio |
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Artist royalty |
the percentage of income generated by record sales that is paid to the artist |
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Cartage (Union Definition) |
the union term for the cost of the transportation of musical/sound equipment to a studio |
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The complete notice of a copyright for a song should include...? |
A copyright sign, the year, and the creator's name. |
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Concert promoters contract for Artists services through...? |
The booking agent |
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The CURRENT Statutory Mechanical Royalty Rate (SMRR) is...? |
9.1 cents per song. The Stautory Mechanical Royalty Rate (SMRR) is decided on every 2 years. |
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The Harry Fox Agency does NOT collect money from...? |
Brokers mechanical royalty agreements |
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In music publishing, a "catalog" refers to...? |
ALL of the writer's songs |
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In a record company, the promotion dept. is usually responsible for...? |
getting radio airplay |
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In the US, synchronization royalties are paid to...? |
writers and publishers |
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In what city is the U.S. Copyright Office located? |
Washington D.C. |
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the length of time of a recording contract is known as the...? |
term (of the contract) |
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Major labels primarily distribute their recordings through...? |
branch distributors |
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Music publishers and songwriters usually have performance royalties collected by...? |
PRO's |
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On an AFM session, how much does the leader get paid relative to the rest of the musicians? |
double their pay |
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The practice of a Record label advancing money to an Artist and then paying ITSELF back out of the Artist's royalties is called...? |
Recoupment |
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The person who is "in charge" of a recording session = ? |
the Producer |
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The Overriding role of management is to...? |
further an artist's career |
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A "one stop" distributor sells mostly to...? |
Indie record stores. |
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The recording costs for an album are advanced by the record label, but ultimately paid for by who...? |
paid for by the Artist |
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The recording merchandisers (retailers) are represented by...? |
NARM = National Association of Retail Merchandisers |
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A recording that appears on several different charts/genres is called a...? |
Crossover Record |
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RIAA (Recording Industry Association of America) represents the...? |
Major labels |
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The right of a Manager to sign contracts and make commitments for an Artist is given by the...? |
Power of Attorney |
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**Role of Music Publishing Company = ? |
to Exploit, Collect, develop, & administrate |
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Royalties paid to Publishers and Songwriters from the manufacture/sale of recordings are called...? |
mechanical royalties |
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A section of the booking contract, which gives specific artist requirements for things like food, lights, and sound, is known as...? |
the "rider" |
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The "suggested retail price" for an album is also known as the...? |
"List Price" |
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a venue is a...? |
place to play music |
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What CANNOT be copyright protected? |
an idea, a title, information |
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What does "Sound Scan" monitor? |
How many physical copies of the music are sold |
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What is overseen by the Marketing Dept. at most record labels? |
advertising press, PR, radio promotion, tour support |
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What organization represents record companies and certifies gold and platinum albums? |
RIAA = Recording Industry Association of America |
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What percentage of royalties to Artists receive on Promotional copies? |
nothing. |
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When the Publisher receives money for song income from Mechanical Licensing, what percentage is the Songwriter typically entitled to? |
50% |
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Who receives the money generated by terrestrial radio airplay of a recording? |
the publishers and songwriters |
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What are the subsystems in the music business system |
The creative part and the business part |
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The Creative Subsystem |
The Creative subsystem is made up of songwriters/ writers, artists/ performers, graphic designers, engineers, and producers |
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The Business Subsystem |
The Business subsystem is made up of artist managers, labels, publishers, attorneys, concert promoters, publicists, studios, "new media", and producers. |
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What subsystem does the producer fit into? |
Both the creative and business subsystems. |
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Five Rules of Engagement for the New Music Business |
1) Redistribution of the risk and reward 2) Artist development costs must be scalable & Flexible 3) Redefining Relationships and the Balance of Power 4) The artist as a brand 5) Profitability |
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What are we selling in the music business? |
Music, words, emotions, entertainment |
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Copyright |
"the exclusive right to copy." A copyright is a tangible property. |
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When is a song copyrighted? |
When it is fixed to paper or a phonorecord |
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What is a phonorecord? |
Any device that can store and reproduce sound |
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What did the Copyright Act of 1790 do? |
Two 14 year terms. Renewal up to copyright owner. Then it goes into public domain. |
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What did the Copyright Act of 1909 do? |
Two 28 year terms. Renewal still not automatic. |
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Sound Recording Amendment of 1972 |
Made sound recordings a class of copyrightable works. It indicated that home taping was considered a permitted use. |
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Copyright Act of 1976 |
Addressed new and future technology. New, single term: Life + 50 years. |
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If not created by an employee within the scope of employee, a work can only be a work for hire if it means these requirements... |
1) the work is commissioned (meaning created at someone's request) 2) Created under a written agreement and created for the use of... a) a motion picture or other audiovisual work b) a collective work c) a compilation d) translation of foreign work e) supplementary work |
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What is a collective work? |
A collection of individual works, each of which is independently capable of copyright. (ex: a book of short stories) |
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Work for Hire |
You hire someone else to create for you. The employer then becomes the author, and it is as if the person you hired doesn't even exist. The employer gets all the rights to the song. |
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Compilation |
A work made by compiling a bunch of things, and this it includes collective works (where the parts are separately copyrightable + also includes works that are not separately copyrightable + also includes works that are not serparately copyrightable. (ex: The Bible) |
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Anonymous Work |
A work written anonymously |
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Pseudonymous Work |
A work written under a phony name |
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The Six Exclusive Rights |
1) prepare derivative works. 2) reproduce the copyrighted work in copies or phonorecords. 3) perform the work publicly. 4) In the Case of Sound Recordings, to perform the copyrighted work publicly by means of a digital audio transmission. 5) Display the copyrighted work publicly 6) Distibute copies of the work to the public by sale or other transfer of ownership, or by rental, lease, or lending. |
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Compulsory License |
You are compelled to issue a license to someone who wants to use your work whether you like it or not. The 6 compulsory licenses are... 1) Cable TV rebroadcast 2) Public broadcasting system 3) Jukeboxes 4) digital performances of records 5) phonorecords & digital downloads of non-dramatical music compositions |
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Mechanical Royalties |
Monies paid to copyright owners for the manufacture and distribution of records. |
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Mechanical Rights |
the rights to reproduce songs in records |
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The compulsory copyright license says that once a song has been recorded and released to the public the copyright owner must license it a) to anyone that wants to use it in a phonorecord b) for a specific payment established by law However, the owner is only required to issue a compulsory license if... |
1) the song is a non-dramatic musical work AND 2) has been previously recorded AND 3) the previously recording has been distributed publicly in phonorecords AND 4) the new recording doesn't change the basic melody or fundamental character of the song AND 5) the new recording is only used in phonorecords |
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Right of First Use |
the law that allows the copyright owner to control who gets to record the song the first time. |
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Statutory Rate |
the set fee/ record paid by anyone who wants to use a song in phonorecords. |
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Copyright Royalty Board |
made up of 3 administrative judges who decide on the rates for all compulsory licenses. |
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Publisher |
takes care of the business that comes with writing songs. A publisher finds people who want to use the songs, issues, licenses, collects the money, and pays the writer. |
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Traditionally, the publisher splits all income _____ with the writer. |
50/50 |
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Creative Publishers |
Publishers who put writers with other writers, help them fine-tune their writing, match writers with artists, etc. |
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The staff of a publishing company... |
1) Administrator: registers copyrights, issues licenses, collects money, pays writers and publishers, etc. 2) song plugger: runs around and gets songs recorded 3) a creative staff person: finds writers, works with them to improve their songs, pairs them with co-writers, etc. (sometimes creative staff is non-existent) |
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Vest-Pocket Publisher |
one person with administrative help acting as a publisher. |
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900-Pound Gorillas |
the major publishing companies, most of which are affiliated with a record company. |
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Major Affiliates |
independent publishing companies, with full staffs of professionals, whose administration is handled by a major. |
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Stand Alone |
A publishing company that is not affiliated with a major, and instead does its own administration. |
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Writer-Publishers |
writers who are their own publishers. |
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Mechanical Royalties |
Monies paid to the record company for the right to use a song in records. |
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How do Mechanical Royalties work? |
The publisher issues a license to the record company that says, for each record manufactured and distributed, and each digital copy that's downloaded, the record company will pay a royalty equal to a specified number of pennies. The fixed rate can either be at the full statutory rate, or it can be a reduced percentage of that statutory rate (if its reduced its called a rate) |
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Issue mechanical licenses for publisher, police them (make sure they pay), and account the publisher. Harry Fox charges 8.5% of the gross monies collected. Fix periodically audits record companies on behalf of all their clients, and then allocate the recovered monies among their clients in proportion to their earnings. |
Harry Fox Agency |
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Controlled Composition |
A song that is written, owned, or controlled by the artist. In other words... 1) any song in which the artist has an income or other interest (even if the artist doesn't own or control the song, if he or she wrote it or otherwise gets a piece of its earnings) OR 2) compositions owned or controlled by the producer of the recordings. |
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performing rights |
the right to perform your composition in public. |
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The 3 PROs (performing rights organizations) in the United States are... |
ASCAP, BMI, and SESAC |
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Controlled Composition Clause |
puts a limit on how much the company has to pay for each controlled composition. Controlled composition clauses say that if a particular song is used more than once on the same record, you only pay as if it were used once. controlled composition clauses require you to license your songs for use in videos forever for free. |
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Blanket License |
the license that the PROs give to each music user. In exchange for a fee, the user gets the right to perform all the compositions controlled by all the publishers affiliated with that PRO. Blanket Licenses were created so that every radio station, nightclub, etc. in the country didn't have to get a separate license for every song that they play. |
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Stockpiling |
Licenses for print music are for limited periods of time, during which the printer has the exclusive print rights, Stockpiling is where the printer manufactures tons of print music before the end of the term so they have tons of your inventory to sell after the term. |
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How do you stop stockpiling? |
You say that the printer can only manufacture enough to meet their reasonably anticipated needs during the term. |
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Dumping or Distress Sales How do you stop dumping or distress sales? |
Dumping or distress sales is when the printer sells your inventory at less than customary wholesale prices. You stop this by saying that your materials can be sold only through normal retail channels at normal wholesale prices. |
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Mass-merchandisers |
Stores like Wal-Mart, which sell at deeply discounted prices. The mass-merchandisers' sales are at lower royalties because the discounted prices mean there's a thinner profit margin. |
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How do publishers collect money in foreign territories? |
They make deals with local publishers in each territory to collect on their behalf. The local publisher is called a subpublisher. |
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Black-box monies |
The unclaimed monies from songs not claimed by any local publisher. (ex: the rights to the song are disputed in the U.S. and no foreign publisher has been given the rights.) |
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DART (Audio Home Recording Act of 1992) |
1) said that consumers who copy records at home for their private, non-commercial use are not committing copyright infringement 2) it imposed a royalty on digital audio recorders and digital audio tapes (this excludes blank CDs, CD burners, hard drives because this act only applies to machines made solely for the purpose of duplicating audio). |
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How do DART royalties get paid out? |
DART royalties are paid out in various percentages to the record companies, featured artists, unions, songwriters, and publishers, all separately. Sound Recording Funds: 2.65% "off the top" for distribution to AFM instrumentalists who perform on sound recordings but are not under contract. 1.375%to AFTRA vocalists who perform on sound recordings but are not under contract. Balance is split 60/40 between SR owners (labels) and featured recording artists. Musical Works Fund: Money split 50/50 between writers and publishers. |
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Joint Work |
A song created by 2 or more people. |
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Who controls the song in a joint work? |
When you have a joint work, each owner can deal non-exclusively with the entire song, subject to the obligation to pay the other person's share of the proceeds. |
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What qualifies something as a joint work? |
to have a joint work, you need an author who intends, at the time of creation, to merge his or her work with someone else's. |
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Supplementary Work |
A work that supplements another work. (ex: an introduction to a book) |
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What happens when a copyright expires? |
the work goes into public domain. |
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Public Domain |
Means that anyone can use the work for free. |
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How long does the copyright last in the case of a joint work? |
The copyright lasts until 70 years after the death of the last survivor. |
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Publication |
Distributed to the public. |
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How long does the copyright of an anonymous or pseudonymous work last? |
the sooner of 95 years from publication or 120 years from creation |
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Creation |
the first time is fixed in tangible form (written down or recorded). |
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How long does the copyright last from a work for hire? |
Same as pseudonymous/ anonymous. 120 years from creation OR 95 years from publication. |
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Right of Termination |
If you give the rights to your copyright to someone else, you have the ability to get it back 35 years after the transfer. The transfer is only for the United States. |
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Digital Performance Right in Sound Recordings Act of 1995 |
1) extended the compulsory mechanical copyright license to include the digital distribution of records (AKA) when records are sold by downloads, this act makes sure the companies selling these transmissions have the right to use the songs in exchange for a compulsory license fee. 2) created a right for the artist and record company to be paid when records are performed |
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Specific of the Digital Performance Right in Sound Recordings Act of 1995 |
1) must be a digital public performance (made by computers as opposed to analog, which is FM and AM radio) **digital over-the-air broadcasts are not defined as a digital public performance. 2) must be an audio-only sound recording that's performed (meaning the artist doesn't get paid for performances of a master in films or TV shows) |
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No Electronic Theft Act of 1997 |
Prosecuted companies that aided in the theft of © by their creation of enabling software. Individuals could also beprosecuted for music sharing if there was financial gain. |
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Sonny Bono Copyright Term Extension Act of 1998 |
Extended the duration of copyrights thatwere still in effect on that date for an additional 20 years. Subsistingcopyrights then had a renewal term of 67 years (95 total) and compositionscreated or published after January 1, 1978 are protected for the life of theauthor plus 70 years. If the author is not alive and has no surviving chidren, grandchildren, or spouse, the author's estate can exercise the right of termination. This only applied to U.S. rights. If you sold your copyright in foreign territories, you're stuck with the deal. |
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The shorter-term rule |
the shorter-term rule says that, even though US copyrights are protected in Europe for life plus seventy, if they go into the public domain earlier in the United States, the European copyright disappears at the same time. |
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1998 Fairness in Music Licensing Amendment |
An amendment attached to the Sonny Bono Act. It exempted small food service and drinking establishments (less than 3750 square ft) and other small retailers (less than 2000 square ft) from needing a license to pay for "non-dramatical" music. They can use your music for free. This exception was also expanded to include the stores that sell home video and music players. |
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The 1976 Copyright Law |
Allows you to undo any deal thirty-five years later. (ex: if you sell your song to a publisher, you can get your copyright back 35 years later) To get it back you give a notice of termination no less than 2 years, and no more than 10 years, before it is to be effective, and the effective date must fall within 5 years after the end of the 35 year period. |
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What does it mean to exploit a copyright? |
Marketing and licensing them. Copyrights are exploited by the publisher. This is accomplished by contracts and transfers of rights. |
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How are copyrights transferred? |
The Publisher transfers rights to others through licensing. The publisher controls all assigned rights. Standard practice is to assign performance rights to a PRO for collection. SSCA- Single Song Contract Agreement states royalty rates and other terms. |
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Three Types of Licenses |
Mechanical, Performance, and Synchronization |
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Performance License |
Performance licenses must be obtained for any public performance. Performers (artists) generate performance royalties. Performers (and labels) DO NOT get performance royalties in the U.S. for live performances or radio. The only time the Artist and theirLabel are paid performance royalties in the US is when the performance is through digital, audio only, paid, non-interactive subscription services. |
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What does "perform publicly" mean? |
to perform and display it in a place open to the public in which the audience contains a substantial number of people of people outside your family and social aquaintances. A public performance can be transmitted digitally as well as in person. The performance can be live or recorded (radio, television, muzak.) Movie theaters do not need performance licenses. |
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Where do performance royalties come from? |
85% of Performance Royalties are FromRecorded Performances. 15% of Performance Royalties are FromLive Performances |
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Synchronization License |
Licenses for use of audio and video together (ex: Movies, TV, CD-ROM). Synchronization Licenses are totally negotiable. |
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Master License |
Licenses the Master Recording for use in a movie soundtrack. This right comes from the 1972 Sound Recording Amendment. |
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Special Use Permit for Music |
Used in toys, computer games, lyrics printed on t-shirts, greeting cards, posters, etc. |
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Electronic Transcription License |
Includes the right to record the work (mechanical) and performance rights, but not the right to sell to the public. Transcriptionlicenses are given for use of music in commercials and do NOT include the rightof public performance which would be covered by the station’s performancelicense. Transcriptionlicenses are NOT subject to the compulsory licensing provisions of the law. |
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ASCAP (American Society of Composers, Authors, and Publishers) |
Oldest and Largest of the PROs. ASCAP is controlled by writers and publishers. It has members. |
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BMI (Broadcast Music Inc.) |
Created in 1939. A corporation owned by broadcasters. Writers and Publishers join as affiliates. Stockholders elect the board. Publishers pay an application fee to join. Songwriters don't pay any fees or dues. |
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SESAC |
Founded in 1930. SESAC is a for profit business that was family owned for years. You apply for affiliation. |
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Types of Sessions |
Demo Sessions: promotesongs and new artists to the industry. Most demo sessions are by musicpublishers Limited Pressing Sessions: 5000copies or less, for limited distribution Master Sessions Union: sessions for major label release. Speculative Session: Non-publisherdemo session. Tracking Session: Basictracks are ‘laiddown’ Overdubbing Session: Addvocals or instrumental solos Mix down: combiningmultiple tracks to make the final, stereo recording, or otherwise combiningmultiple tracks into fewer tracks. |
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Talent Agency |
Theartist’s exclusiverepresentative in negotiating concert deals with promoters. Agencygets 10 to 15% of the GROSS income generatedfrom theirwork |
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Tour Manager |
Responsible for organizing the artist's tour. The tour manager is responsible for schedulingvenues, arrangingadditional musicians, hotels, food, and equipment. The tour manager is exclusive to the artist if on the road with the act. |
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Road Manager |
Goeson the tour with the artist. The road manager is directlyresponsible to and the traveling extension of the Personal Manager. The road manager is an exclusiveemployee of the artist during the tour. The artistpays the road manager a salary, not a percentage. The road manager supervises set up and light and sound check, representshis crew to the union, and makessure transportation, lodging, and meals are provided as planned. |
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What does it mean to "Justify the Box Office"? |
Beforethe Headliner goes on stage, the road manager makes sure that all occupied setsare accounted for. The headlinerwill not go on if there is a discrepancy! The Road Manager collects the money from the promoter. |
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Production Manager |
Responsiblefor all technical aspects of the show: Lights, Sound, Stages, Pyrotechnics, and Props |
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Merchandise Manager |
Supervises the creation and sale or "stuff" sold at concerts (ex: T-shirtsand Sweatshirts, Hats, Pens,pins, figurines, posters, cups, etc.) Merchandiserevenues nearly DOUBLE concert revenue! Artistgets royalties from merchandise sales. Venuegets a percentage of revenue from merchandise sales |
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What is it that allows us to have separate publishers? |
CopyrightRevision Act and other copyright laws (Exclusive Rights, Severabilityof the Rights) |
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Co-Publishing |
SmallerPublisher contracts with a Larger Publisher. They split the publishing share. The LargerPublisher gets 50% ownership of © and all administration rights. The contractis for 1 or two years; possible options |
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Publishing Administration Deal |
Aform of co-publishing in which the smaller publisher (artist/publisher) contracts with a larger publisher to doadministrative work only. They issue licenses, workwith PROS. The SmallerPublisher continues to do the selling functions (Demos, SongPlugging) |
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Must a Publisher affiliate with a PRO? |
No. The benefits of affiliating with a PRO is specialization/ efficiency and bargaining power. |
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With how many PROs can a publisher affiliate? A writer? |
A publisher can affiliate with as many as they want. A writer can't only join one PRO however, a writer may have songs at more than 1 PRO. Writers can not affiliate with a PRO until they are on the verge of being published. |
