Survey of The Music Industry Week 2 Flashcards
(23 cards)
PL Statement
Profit and Loss Statement
360 Rights
The companies get a piece of all of an artist’s earnings
Money-losing tours
Artist can also ask for reduced commission on money-losing tour
Sunset clauses
Avoids paying commissions to former manager and incoming manager
FInal Cutoff
Best to try for a date on which all commissions end no matter what
Agents - role
Music agents involved primarily in booking live personal appearances
Business Managers - role
Business manager handles all of an artist’s money
Important to note that a person needs NO CREDENTIALS to be a business manager
Key man clause
Protects the business if a key person is lost
Record business overview - A&R
People with the ear to find talent
Work Creativitly with Artists
Artists and Repertoire
Record business overview - Promtion
Live solely for getting your record played on the radio
As well as streaming platforms
Record business overview - Finance
Compute and pay royalties
Record business overview - Business Affairs/Legal
Are responsible for company contracts not only with artists but also with digital service providers
Record business overview - International:
Coordinate release of records around the world
Record business overview - Catalog
Music that is no longer being produced
Like a collection
Record business overview - Film/TV
Hounds people to use their songs for films/tv
Record business overview - Extra
Sales, Production, Production management
What makes a major label?
Major record companies all distributed by major distributors
Only 3 major distributors,
Why do major record labels work?
Things work because they’re done at such a high level
GOOD DISTRIBUTION IS MOST IMPORTANT
Independent Labels
Are not owned by major labels
Major-Distributed Independents
Distributed by major distributers but still owned independently
True Independents
Independent label, independent distribution
The more accounts you have in places the easier it’ll be to distribute
Distributors and streaming
You do not need a distributor for just a small local band but if you are trying to get larger than you need one.
Merch is different than regular distributing
What’s a record?
A record includes both ‘audio only and audiovisual devices’
