Buisness Flashcards
1
Q
Three major record labels
A
Universal
Sony
Warner
2
Q
Major publishers
A
EMI
Universal
Sony/ATV
Warner Chapel
3
Q
Biggest selling album in 2018?
A
Greatest showman
4
Q
Biggest selling album 2017?
A
Ed sheeran
5
Q
Biggest selling album 2016
A
Adele
6
Q
Biggest selling album 2014
A
Adele
7
Q
Biggest selling album 2013
A
Ed Sheeran
8
Q
What is intellectual property?
A
Intangible property that is the result of creativity, such as patents, copyrights, etc.
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.
10
Q
When does copyright come into effect?
A
As soon as you create the work, you do not have to register anything
11
Q
What does a record label deal with
A
The recording or the master
12
Q
What does the music publisher deal with
A
The song copyright
13
Q
What is owned by the author
A
The music and words in their original form
14
Q
What is the recording copyright?
A
The particular sound recording of a song
15
Q
Who owns the recording copyright?
A
Whoever pays for the recording
There can be several master copyrights of a song
16
Q
Who owns the recording when no money is paid?
A
Whoever arranges the recording, but they cannot release it without your permission.
17
Q
What are mechanical rights
A
the right to mechanically reproduce a piece of music, onto cds, dvds, tapes etc
18
Q
What are performance royalties
A
The rights to perform a song
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
20
Q
What does a label have to license from the owner of the song
A
The song copyright
21
Q
What does the record company/dsp pay the publisher for use of the song in each recorded copy?
A
Mechanical copyright
22
Q
How long does copyright last on the publishing side?
A
Life + 70 years
23
Q
How long does sound recording copyright last
A
Release + 70 years
24
Q
What is music publishing?
A
The administration, protection and strategic exploitation of a SONG
25
What is the MPA and what do they do?
Music Publishers Association
Safeguard and promote the interest of music publishers, and the writers signed to them
26
What do music publishers deal with?
The song/ composition, not the recording
Interested in writers and acts who write
Marketing effort primarily business to business
27
What are collection societies
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).
28
What is PRS?
Performing Rights Society
29
Is PRS for song copyright or recording copyright?
Song copyright
30
What do PRS do?
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
31
What does the copyright department do in a music publisher?
Register the song titles, log splits
32
What does the royalties department do in a music publisher?
Identify payment due to each writer for every song/ part song
33
What does the finance department do in a music publisher?
Pay/ account to writers in accordance with regular royalties run
34
What is syncornisation
The license of a piece of music - existing or newly created - for use to accompany images
35
Is a sync license made by publishers (song copyright), or master (recording copyright)?
Both, value usually split 50/50
36
What is copyright control?
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
37
What is sub publishing?
When a publisher gets a local publisher in another territory to administer on their behalf.
38
What does at source/ reciepts mean?
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.
39
What are grand rights?
The right to use songs in a theatrical stage production.
40
Define enterpreneur?
A business person who attempts to make a profit by risk and initiative
41
What is a sole trader?
Work on your own
Simplest way to run a business
Not necessary to employ anyone
Personally liable for any depts your business has
42
What is a partnership buisness?
Created when 2 or more go into buisness
No formal agreement between them is necessary
43
What is a private limited company?
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
44
What is the MMF?
The music managers forum
45
What do the MMF declare that a manager does?
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.
46
What do managers do?
Offer advice
Help with funding
Get shows until agent on board
Make introductions
Further artists career
47
What is a term of contract with a manager?
Usually a fixed term of 3 to 5 years.
Sometimes 2 to 3 album cycles.
May include an extension
48
What is remuneration of a manager?
Established commission rate = %20
49
Which income streams can a manager get remuneration from?
Advances
Royalties
Merch
Live
Sync
Brands
50
What is a post term commission?
When the manager gets paid after the contract ends
51
What is management termination?
Clarifies exactly what constitutes the grounds for termination
52
What is a key-man/ woman clause?
So that an artist signing to a management company can specify that a particular individual is there to look after them
53
What are managers expenses?
Being clear over exactly what expenses incurred by the manager can be reimbursed
54
What are royalties?
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
How do royalties work?
Monies earned by the writer/artist
Paid in accordance with revenue earned by label/ publisher
56
How often are royalties usually paid?
Half year basis
57
What can generate income for the publisher and label
Mechanical
Performance
License/ Sync
58
What is a royalty split?
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
How are publishing deal royalties generally split?
70/30 to 90/10 in favour of the writer
60
How are record deal royalties generally split?
75/25 to 82/18 in favour of the label
61
What is the writer share?
The share of the total income owed to the song writer
62
What is the net publisher share?
The share of the income retained by the publisher
63
What is a recoupable advance?
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
Who owns the license?
Owner retains copyright, grants the label certain rights
65
What is assignment
The owner grants all the rights of ownership and copyright to a label
66
What can generate income for a record label
Sales
Licensing
Sync
Neighbouring rights
67
What can be the commitments for artists to labels
Can be an album worth of songs
An aggregate of % of controlled releases
Or a duration of term
68
What is the retention period
The time a publisher retains the rights to earn income from the songs after the term has ended.
69
What is an SSA
a single song assignment - a contract for a particular song - one copyright
70
What is a license deal
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
What is a development deal
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
What is a production deal?
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
What are some buisness funding options
Friends and family
Angel investment
Venture capital
Loan finance
Non buisness help
Crowd funding
74
What are angel investors
Aflluent individuals prepared ot offer finance
Offer mid range finance
75
What is venture capital
Buisness model takes equity for early income
Corporate, rather than personal loan
76
What are the two elements of A&R
Discovery
Development
77
Who is part of the live music buisness
Artist
Live agent
Promotor
Tour manager
78
What does a live agent do?
Oversees and co ordinates the touring activities of an act. Books shows and tours
79
What does a promoter do?
Stages each individual show, books venues, handles ticketing and deals with all advertising.
80
What does a tour manager do?
Organises everything for the artist, while on the road. Plans logistics of the tour
81
What is the difference between moral rights and economic rights
Moral rights are attached to the authorship, not the ownership
Economic rights are attached to the ownership
82
Deine PRS
Performance rights society. Collects and distributes money on behalf of songwriters, composers and music publishers, for their use of compositions and lyrics
83
Define MCPS
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
Define DSP
Digital service provider. A term used to describe a retail store, such as itunes, as well as a streaming provider, such as Spotify.
85
Define PPL
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
What does A & R mean
A&R - Artist & Repertoire
87
What are an artists main revenue streams?
Live
Sales (Streaming)
PPL
MCPS
PRS
SYNC
Brand Deals
Merch
88
What is the pay structure of the COPY of a SONG
Mechanical rights
Collected by MCPS
Paid to songwriter/ Publisher
89
What is the pay structure of the PLAY of a SONG
Performance rights
Collected by PRS
Paid to Publisher/ Song Writer
90
What is the pay structure of the SYNC of a SONG
Sync License
Collected by song owner
Paid to publisher/ Songwriter
91
What is the pay structure of the COPY of a RECORDING
Master rights Artist royalties
Collected by DSP/ Distributor
Paid to Master owner/ Artist/ Producer
92
What is the pay structure of a PLAY of a RECORDING
Performance rights
Collected by PPL
Paid to the Master owner/ Performers
93
What is the pay structure of a SYNC of a RECORDING
Master license
Collected by owner of the master
Paid to Artist/ Producer
94
What are services?
e.g managing, mixing, mastering
95
What is a recording deal license?
The license permits the record label to manufacture, distribute, and sell recordings
96
What is a recording deal assignment?
A transfer of ownership for the full length of the copyright
97
What is a recording deal exclusivity?
if your record is released by a label, no one else can release it
98
What is Recording deal territory?
The area in which the company is allowed to sell records
99
What is a record SSA
Single song assignment, a deal to release one track
100
What are the different revenue streams?
Mechanical Rights Royalties
Non-Mechanical Rights Royalties
Performing Rights Royalties
Sync Rights
101
What are mechanical rights royalties?
Royalties from a reproduction of a piece of music onto CD, tape, vinyl, other formats
102
What are Non-Mechanical Rights Royalties
Royalties from things like sheet music
103
What are Performing Rights Royalties
Royalties from the public performance of a piece of music. Live, played on radio or a public space
104
What are Sync Rights royalties
Royalties from having a piece of music in TV or film after that company has obtained a sync license
105
What are the different collection societies
PRS
MCPS
PPL
106
What is PRS
PRS - Performing Rights Society - Collects public performance rights
107
What is MCPS
MCPS - Mechanical Copyright Protection Society - Collect mechanical rights
108
What is PPL
PPL - Phonographic Performance Limited - Collect performance rights on recordings
109
What is the IFPI
The International Federation Of The Phonographic Industry - Represents the recording industry worldwide
110
What is the BPI
British Phonographic Industry - Represents the UK recording industry
111
What is the MPA
Music Publishers Association - Promotes and protects the UK’s music publishing industry
112
What is AIM
Association Of Independent Music - A not-for-profit organisation that represents the UK’s independent music sector
113
What is UK MUSIC
Represent the collective interests of the recorded, published and live arms of the British music industry.
114
What is MMF
Music Managers Forum
115
What is MU
Musician's Union - Represents working musicians
116
What is MPG
Music Producers Guild - Represents producers, mixers and engineers
117
What is FAC
Featured Artists Coalition - An organisation to protect, support and promote artists in the industry
