MUISC BUISNESS TEST 2

What does a manager do

raise money for recording/video/touring, music placement, digital distributions, social media networks, and pitching to venues.

DIY options for music distribution

Pledge music, Youtube, CD Baby

The artist manager

advises their client on all matters related to their career, business' side of career
develops the brand for multiple revenue streams

Early on an artist manager wears many hats such as-

promoter, publicist, agent, accountant, etc

What is the management contract

business' agreement between the manager and artist, ensure the obligation and responsibility are defined

Standard commission for a manager is

15 to 20 percent (varies on touring and number of musicans in a band)

Exclusions for the standard commission of a manager

Publishing, Songwriting, singular tours/album, money-losing tours

Recoupment costs for album related expenses

recording costs, producer costs, co-writers, studio rentals

Recoupment costs for Tour related expenses

rehearsal studio, backline, musician salaries/per diem, crew equipment

Recoupment costs for Artist related living expenses

any expenses that would be considered personal

Recoupment costs for Out of Pocket expenses

Managers travel and entertainment related to promoting the artist

Attorneys role is to

review all legal documents and contracts related to an artists career

Relationships of the attorney

with the artist/band, industry clout

Hourly fee for Attorney

150-600 an hour

Percentage fee for an attorney

5 to 10 percent if deal negotiated

Value billing fee for an attorney

when the deal is finished, the lawyer asks for the fee based on size of deal, pre negociated

Retainer fee for an attorney

a set monthly fee, usually covering all costs

Business' manager

handles finances on behalf of the artist, such as collecting money, paying bills, investments, and tax returns

Business Manager Fee: percentage

normally 5 percent, w/ minimum and/or max fee caps

Business Manager Fee: Hourly Rate

good for those with limited revenue streams

Business Manager Fee: Flat Fee

Predetermine rate for all services

Business Manager Fee: Combination

Depending on level of service needed and type of income

Booking agent is responsible for

booking live performances and personal appearances

The term a booking agent usually works

Will want three or more years, 1 year

Fees of Booking agents

10 percent, not income generated by record sales or publishing

Role of a Performance Union

to regulate the agents and protect the rights of artists

Main performance unions are

AFM (American Federation of Musicians) and SAG-AFTRA (Screen Actors Guild and American Federation of Television and Fine Arts)

The promoters role is to

organize gigs, book bands, advertise and publize the event

The promoter gets fee by

directly negotiating with the artist/manager, unless signed to an agent

Concert covers the

-date of show
-venue
-opening act or headliner
-length of set
-soundcheck lengths
-descriptions of accomodations
-agreement on the merchandise sales
-media requests
-payment terms

Splits refers to

amount of venue/promoter willing to give to the band, share of income generated by ticket sales

Splits of Guaranteed fee

set financial number no matter how many tickets are sold that night

Splits of versus deal

guaranteed fee or percentage of the door whichever is greater

Splits of plus deal

guaranteed fee plus percentage of the door

Deposits procedure for live shows

once the payment is determined, normally 50 percent of the fee is paid in advance of the show

Who's role is it to negotiate the performance fee on behalf of the artist

Booking artist (with artist manager)

Once performance fee is determined what happens next

50 percent deposit is paid, and contract is signed, agent and lawyer usually review

What is the 21 day rule

Normally after signing a contract for a venue owner, artist cant perform 21 days before or after the confirmed show date, not always the case for smaller venues

After signing contract for a live show..

deposit is paid to the booking agent (in escrow account) to confirm show, and depending on size of show, a small deposit

Tour manager is responsible for

day to day point personal for artist/management team, working with legal and business' manager for contracts

A rider refer to

a addendum that sits on top of another contract referring to specific things think of no brown m and ms

Making the record

budgeting, pre production, producing recording, and mixing and mastering

What is a ISRC

12 character unique digital fingerprint code for a track

What is a UPC

represents and entire digital product, for albums, allowing u to see sales and trends

Marketing Plan is used for

creating visibility/generating awareness wit potential customers, as "fans"

All aspects of promotion

radio, sales, paid for exposure, publicity, marketing tools (EPK example), social media campgain

USP (Unique Selling Point)

the consideration/factor presented by a seller as the reason why one product is better or different than that of the competition

Goal setting is important for

setting yourself apart, to consider long and short term career goals

Example of a goal for a New Artist?

Be able to generate income by touring

Four ways to define your target market

Demographics, geographics, behavior, and technographics

How to research target markets in music

scoping the competition, seeing who is coming to your shows, and finding the preferences of fans

Monitoring beyond physical product sales includes

Billboard charts, Official Charts Company UK, and German Album Chart

Record release strategies should include

defining USP, consumers, competition, and how to reach consumers

Record release strategies should include,

budgets based on short term movements, and proper spacing between finishing an album and release

Distribution of a release 2 aspects

physical product (record shops) and online (streaming services and digital)

Marketing tool box includes things like

The music, arts name, logo, gigs/live shows, social media, merchandising, radio/streaming, giveaways, wardrobe, and photoshoots, publicity, press releases, street team, poster/fliers, outdoor advertising, guerilla marketing, mailing lists

When promoting a upcoming release online...

include consistent branding, current info, cross links, calls to action, and a good point of discovery

Press to contact for album releases

printed (newspapers, journals, magazines), broadcast (radio, tv), and online

Purpose of a press campaign

to utilize media outlets to generate product awareness

Who is responsible to pitch to the media

The publicist, usually working for a label, manager, or indie company

How to develop a campaign that reaches the target market

Create a press kit, research appropriate outlets, outreach pitch for media placements

lead time

the time media will take to complete a request

Lead time for magazines

4-6 months in advance of the issue date

Lead time for newspaper

1 week- 3 months in advance of issue date

Lead time of TV performances

2-6 months in advance of the air date

Lead time of online site

minutes to 3 months of advance of upload

Music merchandising

a commercial enterprise dedicated to the purchase of finished goods and their resale

The role of a merchandiser

license the right to use band names, manufactures the goods, and pays the artist the royalties for each sale

Royalties of tour merchandising

percent of sales, usually 30 to 40 percent

royalties of retail merchandising

depends on wholesale price, 15-25 percent of wholesale price

Advance and advance repayment

advances usually paid over course of tour, gross sales times royalty rate.

repayment is usually acquired with interest

Album cycle

begins on the day of release of album, and ends 60 days prior to the release of next album

Hall fees

the amount charged by venues for merch, negotiated by BA, usually 30 to 35 percent of gross sales of that show

Reasons why merch doesnt sell

its not unique or different, it looks ugly, the merch table isnt visible or in an awkward spot, there isnt promotion, and there is not a connection with the audience

Different level of consumers

true fan, general public, local concert goers, and core supporters

Standard commision rate for artist manager

15-20%

Role of Business' Manager

handle an artist money

How are business' managers paid

5 percent, hourly, flat fee, combo wombo

Is tour vital to a marketing plan

True, last part of marketing

can an artist hire more than one booking AGENT

True, they can hire in different territories

Retail Merch is found at

retail stores, fan clubs, online

True or False A press kit is important to have when contacting venues for booking a tour

True

A tech rider

is the technical requirements for a bands live show

An example of something included in a booking contract between BA and promoter

something like length of set

What is not an expense when recording a record

merchandising

Settling the Box Office refers to

The Touring manager review promoters accounting for the night

An artists website and social media pages

should have a call to action