MUISC BUISNESS TEST 2

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87 Terms

1
What does a manager do
raise money for recording/video/touring, music placement, digital distributions, social media networks, and pitching to venues.
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2
DIY options for music distribution
Pledge music, Youtube, CD Baby
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3
The artist manager
advises their client on all matters related to their career, business' side of career
develops the brand for multiple revenue streams
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4
Early on an artist manager wears many hats such as-
promoter, publicist, agent, accountant, etc
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5
What is the management contract
business' agreement between the manager and artist, ensure the obligation and responsibility are defined
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6
Standard commission for a manager is
15 to 20 percent (varies on touring and number of musicans in a band)
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7
Exclusions for the standard commission of a manager
Publishing, Songwriting, singular tours/album, money-losing tours
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8
Recoupment costs for album related expenses
recording costs, producer costs, co-writers, studio rentals
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9
Recoupment costs for Tour related expenses
rehearsal studio, backline, musician salaries/per diem, crew equipment
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10
Recoupment costs for Artist related living expenses
any expenses that would be considered personal
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11
Recoupment costs for Out of Pocket expenses
Managers travel and entertainment related to promoting the artist
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12
Attorneys role is to
review all legal documents and contracts related to an artists career
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13
Relationships of the attorney
with the artist/band, industry clout
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14
Hourly fee for Attorney
150-600 an hour
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15
Percentage fee for an attorney
5 to 10 percent if deal negotiated
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16
Value billing fee for an attorney
when the deal is finished, the lawyer asks for the fee based on size of deal, pre negociated
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17
Retainer fee for an attorney
a set monthly fee, usually covering all costs
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18
Business' manager
handles finances on behalf of the artist, such as collecting money, paying bills, investments, and tax returns
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19
Business Manager Fee: percentage
normally 5 percent, w/ minimum and/or max fee caps
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20
Business Manager Fee: Hourly Rate
good for those with limited revenue streams
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21
Business Manager Fee: Flat Fee
Predetermine rate for all services
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22
Business Manager Fee: Combination
Depending on level of service needed and type of income
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23
Booking agent is responsible for
booking live performances and personal appearances
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24
The term a booking agent usually works
Will want three or more years, 1 year
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25
Fees of Booking agents
10 percent, not income generated by record sales or publishing
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26
Role of a Performance Union
to regulate the agents and protect the rights of artists
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27
Main performance unions are
AFM (American Federation of Musicians) and SAG-AFTRA (Screen Actors Guild and American Federation of Television and Fine Arts)
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28
The promoters role is to
organize gigs, book bands, advertise and publize the event
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29
The promoter gets fee by
directly negotiating with the artist/manager, unless signed to an agent
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30
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
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31
Splits refers to
amount of venue/promoter willing to give to the band, share of income generated by ticket sales
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32
Splits of Guaranteed fee
set financial number no matter how many tickets are sold that night
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33
Splits of versus deal
guaranteed fee or percentage of the door whichever is greater
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34
Splits of plus deal
guaranteed fee plus percentage of the door
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35
Deposits procedure for live shows
once the payment is determined, normally 50 percent of the fee is paid in advance of the show
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36
Who's role is it to negotiate the performance fee on behalf of the artist
Booking artist (with artist manager)
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37
Once performance fee is determined what happens next
50 percent deposit is paid, and contract is signed, agent and lawyer usually review
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38
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
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39
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
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40
Tour manager is responsible for
day to day point personal for artist/management team, working with legal and business' manager for contracts
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41
A rider refer to
a addendum that sits on top of another contract referring to specific things think of no brown m and ms
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42
Making the record
budgeting, pre production, producing recording, and mixing and mastering
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43
What is a ISRC
12 character unique digital fingerprint code for a track
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44
What is a UPC
represents and entire digital product, for albums, allowing u to see sales and trends
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45
Marketing Plan is used for
creating visibility/generating awareness wit potential customers, as "fans"
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46
All aspects of promotion
radio, sales, paid for exposure, publicity, marketing tools (EPK example), social media campgain
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47
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
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48
Goal setting is important for
setting yourself apart, to consider long and short term career goals
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49
Example of a goal for a New Artist?
Be able to generate income by touring
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50
Four ways to define your target market
Demographics, geographics, behavior, and technographics
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51
How to research target markets in music
scoping the competition, seeing who is coming to your shows, and finding the preferences of fans
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52
Monitoring beyond physical product sales includes
Billboard charts, Official Charts Company UK, and German Album Chart
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53
Record release strategies should include
defining USP, consumers, competition, and how to reach consumers
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54
Record release strategies should include,
budgets based on short term movements, and proper spacing between finishing an album and release
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55
Distribution of a release 2 aspects
physical product (record shops) and online (streaming services and digital)
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56
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
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57
When promoting a upcoming release online...
include consistent branding, current info, cross links, calls to action, and a good point of discovery
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58
Press to contact for album releases
printed (newspapers, journals, magazines), broadcast (radio, tv), and online
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59
Purpose of a press campaign
to utilize media outlets to generate product awareness
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60
Who is responsible to pitch to the media
The publicist, usually working for a label, manager, or indie company
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61
How to develop a campaign that reaches the target market
Create a press kit, research appropriate outlets, outreach pitch for media placements
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62
lead time
the time media will take to complete a request
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63
Lead time for magazines
4-6 months in advance of the issue date
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64
Lead time for newspaper
1 week- 3 months in advance of issue date
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65
Lead time of TV performances
2-6 months in advance of the air date
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66
Lead time of online site
minutes to 3 months of advance of upload
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67
Music merchandising
a commercial enterprise dedicated to the purchase of finished goods and their resale
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68
The role of a merchandiser
license the right to use band names, manufactures the goods, and pays the artist the royalties for each sale
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69
Royalties of tour merchandising
percent of sales, usually 30 to 40 percent
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70
royalties of retail merchandising
depends on wholesale price, 15-25 percent of wholesale price
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71
Advance and advance repayment
advances usually paid over course of tour, gross sales times royalty rate.

repayment is usually acquired with interest
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72
Album cycle
begins on the day of release of album, and ends 60 days prior to the release of next album
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73
Hall fees
the amount charged by venues for merch, negotiated by BA, usually 30 to 35 percent of gross sales of that show
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74
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
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75
Different level of consumers
true fan, general public, local concert goers, and core supporters
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76
Standard commision rate for artist manager
15-20%
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77
Role of Business' Manager
handle an artist money
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78
How are business' managers paid
5 percent, hourly, flat fee, combo wombo
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79
Is tour vital to a marketing plan
True, last part of marketing
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80
can an artist hire more than one booking AGENT
True, they can hire in different territories
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81
Retail Merch is found at
retail stores, fan clubs, online
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82
True or False A press kit is important to have when contacting venues for booking a tour
True
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83
A tech rider
is the technical requirements for a bands live show
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84
An example of something included in a booking contract between BA and promoter
something like length of set
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85
What is not an expense when recording a record
merchandising
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86
Settling the Box Office refers to
The Touring manager review promoters accounting for the night
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87
An artists website and social media pages
should have a call to action
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