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Term 3 > Buisness > Flashcards

Buisness Flashcards

1
Q

Three major record labels

A

Universal

Sony

Warner

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2
Q

Major publishers

A

EMI

Universal

Sony/ATV

Warner Chapel

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3
Q

Biggest selling album in 2018?

A

Greatest showman

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4
Q

Biggest selling album 2017?

A

Ed sheeran

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5
Q

Biggest selling album 2016

A

Adele

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6
Q

Biggest selling album 2014

A

Adele

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7
Q

Biggest selling album 2013

A

Ed Sheeran

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8
Q

What is intellectual property?

A

Intangible property that is the result of creativity, such as patents, copyrights, etc.

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9
Q

What is copyright

A

The protection and ownership of your work.

The exclusive right to reproduce and control work of art, invented to monetise talents.

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10
Q

When does copyright come into effect?

A

As soon as you create the work, you do not have to register anything

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11
Q

What does a record label deal with

A

The recording or the master

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12
Q

What does the music publisher deal with

A

The song copyright

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13
Q

What is owned by the author

A

The music and words in their original form

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14
Q

What is the recording copyright?

A

The particular sound recording of a song

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15
Q

Who owns the recording copyright?

A

Whoever pays for the recording

There can be several master copyrights of a song

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16
Q

Who owns the recording when no money is paid?

A

Whoever arranges the recording, but they cannot release it without your permission.

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17
Q

What are mechanical rights

A

the right to mechanically reproduce a piece of music, onto cds, dvds, tapes etc

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18
Q

What are performance royalties

A

The rights to perform a song

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19
Q

What is the CPDA and it gives the copyright exclusive rights to…….

A

Copyright, Designs and Patents Act

Copy the work

Issue, rent or lend it to public

Perform, show, or play in public

Make an adaptation

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20
Q

What does a label have to license from the owner of the song

A

The song copyright

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21
Q

What does the record company/dsp pay the publisher for use of the song in each recorded copy?

A

Mechanical copyright

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22
Q

How long does copyright last on the publishing side?

A

Life + 70 years

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23
Q

How long does sound recording copyright last

A

Release + 70 years

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24
Q

What is music publishing?

A

The administration, protection and strategic exploitation of a SONG

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25
Q

What is the MPA and what do they do?

A

Music Publishers Association

Safeguard and promote the interest of music publishers, and the writers signed to them

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26
Q

What do music publishers deal with?

A

The song/ composition, not the recording

Interested in writers and acts who write

Marketing effort primarily business to business

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27
Q

What are collection societies

A

Collect royalties on behalf of their members.

Members are artists, authors, musicians and other owners of copyright in works (such as lyrics, visual art and literature) or other copyright material (such as sound recordings, films, and television broadcasts).

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28
Q

What is PRS?

A

Performing Rights Society

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29
Q

Is PRS for song copyright or recording copyright?

A

Song copyright

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30
Q

What do PRS do?

A

Collect license fees from anyone that uses music for a buisness benefit, and pays the royalties to music creators in the UK and around the world

PRS pay royalties to our members when their works are:

broadcast on TV or radio
performed or played in public, whether live or through a recording

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31
Q

What does the copyright department do in a music publisher?

A

Register the song titles, log splits

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32
Q

What does the royalties department do in a music publisher?

A

Identify payment due to each writer for every song/ part song

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33
Q

What does the finance department do in a music publisher?

A

Pay/ account to writers in accordance with regular royalties run

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34
Q

What is syncornisation

A

The license of a piece of music - existing or newly created - for use to accompany images

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35
Q

Is a sync license made by publishers (song copyright), or master (recording copyright)?

A

Both, value usually split 50/50

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36
Q

What is copyright control?

A

When a piece of music has been created, even if the writer has not got a publisher and is not a member of a collection society, it is still protected by copyright law

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37
Q

What is sub publishing?

A

When a publisher gets a local publisher in another territory to administer on their behalf.

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38
Q

What does at source/ reciepts mean?

A

At source - roylaties paid directly to the writer, with only the publisher shared decucted

Reciepts - gross amount diluted by a sub publisher also taking a cut.

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39
Q

What are grand rights?

A

The right to use songs in a theatrical stage production.

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40
Q

Define enterpreneur?

A

A business person who attempts to make a profit by risk and initiative

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41
Q

What is a sole trader?

A

Work on your own

Simplest way to run a business

Not necessary to employ anyone

Personally liable for any depts your business has

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42
Q

What is a partnership buisness?

A

Created when 2 or more go into buisness

No formal agreement between them is necessary

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43
Q

What is a private limited company?

A

Corporate organisation - owned by shareholders

Has separate legal entity from its owners

Investors share profit in form of dividend

Dept liability is limited to the business itself

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44
Q

What is the MMF?

A

The music managers forum

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45
Q

What do the MMF declare that a manager does?

A

Use their best endeavours to advance the artists career, and make sure they get paid.

Regularly consult with the artist and keep them aware of what is going on on their behalf.

Maintain accurate records of all transactions and send the artist regular statements.

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46
Q

What do managers do?

A

Offer advice

Help with funding

Get shows until agent on board

Make introductions

Further artists career

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47
Q

What is a term of contract with a manager?

A

Usually a fixed term of 3 to 5 years.

Sometimes 2 to 3 album cycles.

May include an extension

48
Q

What is remuneration of a manager?

A

Established commission rate = %20

49
Q

Which income streams can a manager get remuneration from?

A

Advances

Royalties

Merch

Live

Sync

Brands

50
Q

What is a post term commission?

A

When the manager gets paid after the contract ends

51
Q

What is management termination?

A

Clarifies exactly what constitutes the grounds for termination

52
Q

What is a key-man/ woman clause?

A

So that an artist signing to a management company can specify that a particular individual is there to look after them

53
Q

What are managers expenses?

A

Being clear over exactly what expenses incurred by the manager can be reimbursed

54
Q

What are royalties?

A

A part of a contract that a create of the work negotiates with the business that seeks to exploit the creation.

Can be as simple as a fixed amount of money per copy sold.

Paid in direct relation to the amount sold

55
Q

How do royalties work?

A

Monies earned by the writer/artist

Paid in accordance with revenue earned by label/ publisher

56
Q

How often are royalties usually paid?

A

Half year basis

57
Q

What can generate income for the publisher and label

A

Mechanical

Performance

License/ Sync

58
Q

What is a royalty split?

A

The division between what the writer or artist gets from all the income generate by their music, and what is left for the label or publisher to keep as commission.

59
Q

How are publishing deal royalties generally split?

A

70/30 to 90/10 in favour of the writer

60
Q

How are record deal royalties generally split?

A

75/25 to 82/18 in favour of the label

61
Q

What is the writer share?

A

The share of the total income owed to the song writer

62
Q

What is the net publisher share?

A

The share of the income retained by the publisher

63
Q

What is a recoupable advance?

A

The money a label or publisher pays to an artist or writer at the start of a term

Advances are almost always recoupable, meaning the label/publisher will reclaim the advance from future royalty earnings.

The artist does not pay back the advance if they do not make enough in royalties

Artist only earns royalties once the advance has been recouped.

64
Q

Who owns the license?

A

Owner retains copyright, grants the label certain rights

65
Q

What is assignment

A

The owner grants all the rights of ownership and copyright to a label

66
Q

What can generate income for a record label

A

Sales

Licensing

Sync

Neighbouring rights

67
Q

What can be the commitments for artists to labels

A

Can be an album worth of songs

An aggregate of % of controlled releases

Or a duration of term

68
Q

What is the retention period

A

The time a publisher retains the rights to earn income from the songs after the term has ended.

69
Q

What is an SSA

A

a single song assignment - a contract for a particular song - one copyright

70
Q

What is a license deal

A

An artist retains ownership of the copyright and grans a license to the label

License permits them to exploit the recordings for an agreed amount of time

71
Q

What is a development deal

A

Allows a major label to develop an artist without entering a full scale recording contract.

When recordings are finished, label them decides if it wants to sign the artist

72
Q

What is a production deal?

A

Exclusive recording agreement offered to an artist by a production company.

The production company does development work with the artist and records sufficient material to get a major label interested.

73
Q

What are some buisness funding options

A

Friends and family

Angel investment

Venture capital

Loan finance

Non buisness help

Crowd funding

74
Q

What are angel investors

A

Aflluent individuals prepared ot offer finance

Offer mid range finance

75
Q

What is venture capital

A

Buisness model takes equity for early income

Corporate, rather than personal loan

76
Q

What are the two elements of A&R

A

Discovery

Development

77
Q

Who is part of the live music buisness

A

Artist

Live agent

Promotor

Tour manager

78
Q

What does a live agent do?

A

Oversees and co ordinates the touring activities of an act. Books shows and tours

79
Q

What does a promoter do?

A

Stages each individual show, books venues, handles ticketing and deals with all advertising.

80
Q

What does a tour manager do?

A

Organises everything for the artist, while on the road. Plans logistics of the tour

81
Q

What is the difference between moral rights and economic rights

A

Moral rights are attached to the authorship, not the ownership

Economic rights are attached to the ownership

82
Q

Deine PRS

A

Performance rights society. Collects and distributes money on behalf of songwriters, composers and music publishers, for their use of compositions and lyrics

83
Q

Define MCPS

A

Mechanical copyright protection society.

The essential function of MCPS is to collect and distribute royalties

MCPS pay royalties to their members when their music is:

copied as physical products, such as CDs and DVDs
streamed or downloaded
used in TV, film or radio

84
Q

Define DSP

A

Digital service provider. A term used to describe a retail store, such as itunes, as well as a streaming provider, such as Spotify.

85
Q

Define PPL

A

Phonographic performance limited.

A UK based music licensing company and performance rights organisation. Collects and distributes money on behalf of performers and record companies for the use of their recorded music.

86
Q

What does A & R mean

A

A&R - Artist & Repertoire

87
Q

What are an artists main revenue streams?

A

Live

Sales (Streaming)

PPL

MCPS

PRS

SYNC

Brand Deals

Merch

88
Q

What is the pay structure of the COPY of a SONG

A

Mechanical rights

Collected by MCPS

Paid to songwriter/ Publisher

89
Q

What is the pay structure of the PLAY of a SONG

A

Performance rights

Collected by PRS

Paid to Publisher/ Song Writer

90
Q

What is the pay structure of the SYNC of a SONG

A

Sync License

Collected by song owner

Paid to publisher/ Songwriter

91
Q

What is the pay structure of the COPY of a RECORDING

A

Master rights Artist royalties

Collected by DSP/ Distributor

Paid to Master owner/ Artist/ Producer

92
Q

What is the pay structure of a PLAY of a RECORDING

A

Performance rights

Collected by PPL

Paid to the Master owner/ Performers

93
Q

What is the pay structure of a SYNC of a RECORDING

A

Master license

Collected by owner of the master

Paid to Artist/ Producer

94
Q

What are services?

A

e.g managing, mixing, mastering

95
Q

What is a recording deal license?

A

The license permits the record label to manufacture, distribute, and sell recordings

96
Q

What is a recording deal assignment?

A

A transfer of ownership for the full length of the copyright

97
Q

What is a recording deal exclusivity?

A

if your record is released by a label, no one else can release it

98
Q

What is Recording deal territory?

A

The area in which the company is allowed to sell records

99
Q

What is a record SSA

A

Single song assignment, a deal to release one track

100
Q

What are the different revenue streams?

A

Mechanical Rights Royalties

Non-Mechanical Rights Royalties

Performing Rights Royalties

Sync Rights

101
Q

What are mechanical rights royalties?

A

Royalties from a reproduction of a piece of music onto CD, tape, vinyl, other formats


102
Q

What are Non-Mechanical Rights Royalties

A

Royalties from things like sheet music


103
Q

What are Performing Rights Royalties

A

Royalties from the public performance of a piece of music. Live, played on radio or a public space


104
Q

What are Sync Rights royalties

A

Royalties from having a piece of music in TV or film after that company has obtained a sync license

105
Q

What are the different collection societies

A

PRS

MCPS

PPL

106
Q

What is PRS

A

PRS - Performing Rights Society - Collects public performance rights 


107
Q

What is MCPS

A

MCPS - Mechanical Copyright Protection Society - Collect mechanical rights


108
Q

What is PPL

A

PPL - Phonographic Performance Limited - Collect performance rights on recordings

109
Q

What is the IFPI

A

The International Federation Of The Phonographic Industry - Represents the recording industry worldwide


110
Q

What is the BPI

A

British Phonographic Industry - Represents the UK recording industry


111
Q

What is the MPA

A

Music Publishers Association - Promotes and protects the UK’s music publishing industry


112
Q

What is AIM

A

Association Of Independent Music - A not-for-profit organisation that represents the UK’s independent music sector


113
Q

What is UK MUSIC

A

Represent the collective interests of the recorded, published and live arms of the British music industry. 


114
Q

What is MMF

A

Music Managers Forum


115
Q

What is MU

A

Musician’s Union - Represents working musicians


116
Q

What is MPG

A

Music Producers Guild - Represents producers, mixers and engineers 


117
Q

What is FAC

A

Featured Artists Coalition - An organisation to protect, support and promote artists in the industry

Term 3 (4 decks)

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