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Artist Management > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

Agent

A

Someone who sets up jobs/gigs for an artsit

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2
Q

Celebrity

A

A product of media representation, publicity regimes, and fame-making apparatus

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3
Q

Public Relations

A

Someone who is in charge of an artist’s interactions with the public

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4
Q

Sole Proprietorship

A

Being owned by one person

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5
Q

Sunset Clause

A

Post-term commissions meaning the artist still pays their manager after the contract ends

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6
Q

Synchronized licensing

A

A license granting permission to sync a song with a moving image ie. TV, Film and ADs

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7
Q

Administrative Agreement

A

an administrator collects all income for a songwriter or publisher; 3-5 year terms

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8
Q

Cross-Collaterization

A

Royalties recouped to pay back previous advances

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9
Q

Flat Gurantee

A

Pays the act a specific amount of money regardless of ticket sales

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10
Q

PEST

A

Political, Economical, Societal, Technological

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11
Q

Licensing

A

The legal process that allows artists to make money off of their work

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12
Q

Musical Intelligence

A

the potential to appreciate, consume and perform music

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13
Q

Intellectual Property

A

Tangible creative work that is in physical form and includes copyright, trademark, and patents.

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14
Q

Trademark

A

A recognizable sign, design or expression identifying products or service

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15
Q

Limited Liability Company

A

A business structure where the members are not personally liable for the company’s debts and liabilities

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16
Q

Commission

A

The pay that managers receive that is typically 15-20% of the artist’s net income

17
Q

Key man Clause

A

Assures the artists that their agreements with their manager remains, even if the manager leaves the company

18
Q

Mechanical License

A

A license used for distribution of a song and royalties

19
Q

Co-Publishing Agreement

A

A publisher administers an artist’s composition or compositions

20
Q

Advances

A

Funds that are paid back from royalties

21
Q

Artist Manager

A

The primary advisor and responsible controlling entity of an artist

22
Q

Audience

A

The listener and target market

23
Q

Concert Promoter

A

Someone who promotes, organizes, advertises and finances live performances

24
Q

Merchandising

A

The exploitation of rights in a name, image, object or design with an unrelated product of service

25
Q

Life-Cycle

A

The amount of time for an artist’s career; depends on the artist’s branding

26
Q

Creativity

A

The ability to produce novel and unique ideas

27
Q

Fans

A

the audience who finds value in the product/music

28
Q

Authenticity

A

Being able to entice a wide range of emotions, perspectives and situations with your work

29
Q

Economic Rights

A

Rights associated with the money and the economic value of creative work

30
Q

Patent

A

Right to exclude others from making, using, or selling an invention (utility, provisional and design)

31
Q

Contractual Clause

A

A clause that establishes required agreements in a contract`

32
Q

S Corporation

A

A business structure that can consist of up to 100 shareholders and sanctions like a partnership

33
Q

Adjusted Gross Income

A

The income after expenses have been deducted from the gross income

34
Q

Indemnity

A

Security or protection against a loss, financial burden, or legal liability

35
Q

Grant of rights clause

A

A songwriter assigns (sells) the song’s copyright

36
Q

Recoupable

A

Costs and advances that are collected from royalties at a future date

37
Q

Option Periods

A

Rights to upcoming recordings or songs that may be exercised by a company per their contract; typically 9 months

38
Q

Endorsement

A

A famous artist who uses public recognition to recommend or co-present with a product in an ad

Artist Management (1 decks)

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