Music Business Lecture Notes

Flashcards generated from music business lecture notes.

What has been a consistent driver of the changing music industry?

Technology

What are some of the effects of Digital Technology on the music industry?

Improved ability to produce new sounds, disrupted the established economic order

What are some of the ways an artist or business executive can get the information needed to function effectively in the music business?

Attend a college, university, or specialized institution; read the industry trade publications, attend industry conferences, and professional meetings; read books written about the music business, authoritative blogs, listen to podcasts, and watch documentaries; or join a guilds or trade organizations

What does RIAA stand for?

Recording Industry Association of America

Who invented the phonograph?

Thomas Edison

What does P2P stand for?

Peer-to-peer

What are the two types of services Entertainment business attorneys generally provide to their music business clients?

Transactional and litigation services

What are the two unions with the most influence in the music field?

AFM & SAG-AFTRA

What is the term for compensation for moving instruments?

Cartage

What is the term for playing more than one instrument at a gig?

Doubling

What is the industry term for the pay rate of musicians?

Scale

What is the term for an employer arrangement requiring union membership?

Closed Shop

What is the term used for when a vocalist is either featured or sings more than one part?

Step Out

What commission does an artist manager typically earn?

10-25%

What does EPK stand for?

Electronic Press Kit

What are the largest of the full-service talent agencies - known as the “Big Three?'

Endeavor, CAA, and UTA

What does TEA stand for?

Track Equivalent Album

What does SEA stand for?

Streaming Equivalent Album

What are the typical negotiated contract agreements of the music industry?

Composer & Publisher; Performer & Manager; Producer & Artist; and Artist & Record Label

Of all the charts we have discussed this semester, which chart is most focused on live music performances?

POLLSTAR

In what year was the first copyright law passed in the United States?

1790

What is the 'Bundle of Rights'?

The right to reproduce, distribute copies, perform publicly, display publicly, and prepare derivative works

What is the acronym we use for the Music Modernization Act?

The MMA

What is the industry term for melody, rhythm, and/or harmony which can be expressed in a system of musical notation and accompanying words or lyrics if any?

Musical work

What is the industry term for a work that results from the fixation of a series of musical, spoken, or other sounds but not including the sounds accompanying a motion picture or other audiovisual work?

Sound Recording

What two conditions must be met for a song or master to be copyrightable?

Original and fixed in a tangible medium of expression

What agencies are responsible for collecting mechanical royalties?

Harry Fox Agency (HFA) and the Mechanical Licensing Collective (MLC)

What is the largest source of income for many songwriters, composers, and music publishers?

Performance licensing

What is the duration of the copyright for a song?

Life of the author + 70 years

What is the duration of the copyright for a WMFH?

95 years from publication OR 120 years from creation

What are the Big 3 Performing Rights Organizations (PRO)s?

BMI, ASCAP, and SESAC

What are the three main sources of songwriting income?

Performance royalties, mechanical royalties, and sync fees

What is the term used for a songwriter’s demonstration recording of their song?

Demo

What are the 2 copyrightable elements discussed in class?

Song/musical work/composition, and the master/sound recording

Who pays the record label a performance royalty for the use of sound recordings in non-interactive streaming?

SoundExchange

Who are the big 3 major record label groups?

Universal, Sony, and Warner. NOTE: As of this week, UMG renamed themselves to be called MCA

Multi-rights record deals are commonly known as what?

360 deals

When planning a launch campaign, label marketers should set SMART goals. What does SMART stand for?

S: Smart; M: Measurable; A: Attainable; R: Relevant; T: Time-Based

What are the 2 primary revenue models of the music industry that exist today?

Subscription and ad-supported

What is the primary method in which musical creators and collaborators are paid for their works?

Royalty Pool

What three organizations promote the arts and dissemination of classical music?

Americans for the Arts, League of American Orchestras, and Opera America

What type of venue is providing maximum ticket sales?

Festival sites

Location-based permission allows for what commonly known thing?

Geofencing

What are some ancillary activities in which a venue commonly generates revenue?

Venue rentals, concessions, parking, selling merchandise, and hospitality

What number is achieved when the revenue from the event exceeds the expenses plus promoter profit?

Split Point

When the promoter takes all the money from ticket sales and assumes the full financial risk is known as what?

Four-walling

In ticketing terminology, what does it mean to “paper the house”?

To give away tickets

In ticketing terminology, what does Deadwood refer to?

Unsold tickets

What is the term used for deciding which type of seats will be sold at what price?

Scaling the house

What is dynamic pricing?

A supply and demand approach to ticket sales

What is General Admission?

There are no specified seats and seating is on a first come, first served basis