music business final

recording, live performance, copyright & publishing

three large categories of the music industry

composition and recording

the two fundamental but separate types of copyright

acoustic, electric, digital

three major eras in the 135 year history of audio recording

the long tail

the business strategy that allows companies to realize significant profits by selling low volumes of hard to find items

MIDI (musical instrument digital interface)

the 1980s technology that allows artists to record keyboard notes on a computer

public domain

the classification of a music work whose copyright has expired

fair use

the concept that allows limited use of a copyrighted work

synchronization right

the right of copyright owners to negotiate an agreement for usage of their music in film, tv, and video

BMI (broadcast music inc)

this entity was established in 1940 by radio broadcasters and small record labels to offer an alternative to ASCAP

“first-time” songs

the one exception to the fixed statutory rate for mechanical rights

concert promoter

the central player in organizing and pulling off a successful music event

booking agent

a person contracted by an artist or personal manager to negotiate and organize concert dates for a tour

stadium/outdoor festival

a facility that can handle 30,000+ people for a concert event

deadwood sales

unsold tickets that might trigger the release of free tickets just to save an event

dynamic pricing

this ticket selling practice goes into place when there is increased demand

publicity

unpaid media coverage for an artist

trade advertising

the type of promotion that targets industry decision makers - radio, retailers, and industry magazines and blogs

independent record promoter

this industry freelancer played a big role in 1980s radio and has probably found a niche in the streaming (playlist) economy

playlists

they’re assembled, curated, and promoted to advance the potential of designated songs in the streaming world

corporate sponsorship

bands on big torus will rely on this to help reduce the huge expense of travel, equipment, and set-up personnel

bandcamp and Soundcloud

two social media music platforms where song writers and musicians can be discovered

NMPA (national music publishers association)

a trade association founded in 1917 which represents American publishers and their songwriting partners

performance and mechanical

the “all-in” payment rate for streaming combines both of these royalties for songwriters

song casting

the search to match new song with a specific singer/performer

split ownership

the copyright term for a scenario where there is more than one songwriter

mp3

audio file format that threatened to bring down the music industry in the 1990s

analog magnetic tape

a superior recording format that emerged after WWII and stayed in place until the digital age

pro rata model

in calculating streaming royalties, this model seems to favor established artists as opposed to the “user-centric’ model

metadata

song title, artist, writer, release date, genre are all parameters that make up this non-audio intro within a music file

radio station logs and pos record store transactions

prior to 1980, two data points that insiders used to measure a record’s success

semantic-based analysis

unlike content-based analysis, this method uses data outside the media to assemble textual cues

soundscan

nielsen’s 1990s computer app that gave record companies immediate info on pos transactions

consumer attitude interviews and behavior research

the “hands-on” method of gathering consumer sentiments on music and the music industry

echonest

2014 spin-off from the MIT Media Lab helps Spotify with music identification and assessment of consumer preferences and habits

shift from ownership to access

the most prominent trend in consumer listening over the past fifteen years

MLC (music licensing collective)

since passage of the music modernization act, mechanical rights payments for streaming are now administer by this group

inaccurate stream counts from bots and software devices

one of several entities that make accurate monitoring of streaming royalties difficult

compares frequency points of the loudest most dramatic passages with other tracks

Shazam uses this procedure to identify a music track

payment to record distributors and labels for master recording rights

this cost makes up about 50-55% of a music streaming services budget

getting heard/noticed

the biggest challenge that the diy musician faces today

crowdfunding

kickstarter, pattern, indiegogo, and gofundme are all internet platforms for this service

sole proprietorship

most solo artists will form this legal entity to make the flow of business transactions easier

playlist promotion

soundcampaign, indie music academy, daimoon media, and Omari mc offer third-party help with this

register with soundexchange

aside from registering with a PRO, a diy musician should also do this to get streaming royalties for their master recordings

compact disc

this 1980s consumer music format was the first to give consumers sound quality essentially identical to the audio master

match the grants with local (statewide) contributions

the NEA devotes 40% of its entire budget to state arts agencies as long as they can satisfy this condition

simulcasters

the term for terrestrial radio stations that also broadcast at the same time over the internet

Nashville Songwriters Association International

surprisingly, the largest non-profit songwriter trade association in the world

curb copying of paid music downloads

at the insistence of major labels, Apple’s Digital Rights Management (DRM) system was put into place for this purpose