Exam 1 Review Flashcards
Explain the importance of music in our culture
Music is an integral part of most people’s lives. People will have emotional attachments to music and it is also used a lot in the media.
Who is the RIAA and what do they do?
The Recording Industry Association of America gives out the gold, platinum, and diamond record awards.
What are the levels for Gold, Platinum and Diamond records?
Gold = 500,000 Platinum = 1,000,000 Diamond = 10,000,000
What are TEA and SEA and the numbers associated with them?
TEA is 10 downloads = 1 album SEA is 1250 streams = 1 album
This is for digital copies or streaming services
What are the two “C’s” of the music business and why are they important?
Copyright - What makes the most money in 2/3 income streams (recording & publishing)
Contract - These are the documents that describe the business relationship between the various parties in this business
What are the two kinds of copyrighted works that are the most important in this business?
Composition/Musical Work - Owned by the publisher
Sound Recording - Owned by the record label
Who are the “Big 3”?
Universal Music Group, Sony Music Group, & Warner Music Group/Chappell
Explain the importance of thinking about the music business as a global business and the two reasons why you should.
The USA share will decline because new markets are emerging due to borders opening up and the enactment/enforcement of copyright laws.
It is becoming easier to do things globally now because of new technology.
What are the three major functions of the music business? How has a technology from the past or present affected each one of these?
Production - it’s easier to record songs because of easier access to DAWs
Distribution - streaming services
Promotion - social media
What are the three income streams?
Recording, Publishing, & Live Performance
How do publishers make money, i.e., what are mechanical, performance and
synchronization income?
Mechanical - allows someone to use a composition in a recording
Performance Royalties - every time a song is played somewhere, they get paid a royalty
Sync - for when songs are played on movies/tv/ads etc
Lucian Grainge
CEO Universal Music Group - Recordings
Rob Stringer
CEO Sony Music Group - Recordings
Stephen Cooper
CEO Warner Music Group - Recordings
Daniel Ek
CEO, Spotify - Recordings
