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Survey of Music Business > Exam 2 > Flashcards

Exam 2 Flashcards

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1
Q

the 3 major record companies

A

Universal
Sony
Warner Brothers

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2
Q

What are the departments of a record company

A 
A&R
promotion
finance
sales
production management 
new media 
business affairs/legal
marketing
international
production
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3
Q

what is A&R

A

artist and repertoire, they develop the artist and find the new good music

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4
Q

what does promotion do

A

gets songs on radio

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5
Q

what does new media do

A

all the social media and streaming stuff

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6
Q

independent label

A

not owned by a major label

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7
Q

a true independent label

A

not owned by a major and financed by owners or investors

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8
Q

major record distribution companies

A

sony
warner
universal

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9
Q

major independent distributors

A

RED- under sony
ADA- under warner
fontana- under universal

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10
Q

what is an imprint

A

a division of a major label

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11
Q

the major source of physical CD’s

A

Big box stores: wal-mart, target, best buy

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12
Q

current definition of “records” in most recording contracts

A

“any device now or here after known” any kind of delivery of music for consumer use

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13
Q

free goods

A

given to retailers as a way to discount the price and stock more product

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14
Q

“master” as it relates to recordings

A

original multi-track recording
or
two track stereo master
or entire album “10 cuts”

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15
Q

reserves on returns

A

money held in case all records are not sold

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16
Q

an advance to a recording artist

A

money paid to an artist out of future roylaties

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17
Q

recoupment

A

label keeps royalties to pay the label back “deductible from royalties”

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18
Q

what does “in the black” mean

A

once the royalties are recouped

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19
Q

recoupable percentage of video

A

50%

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20
Q

recoupable percentage of tour support

A

100%

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21
Q

cross-collateralization

A

pooling of royalties earned from different albums on same contract

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22
Q

what does RIAA stand for

A

Recording Industry Association of America

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23
Q

what does RIAA do

A

certifies album sales figures

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24
Q

IN AMERICA what is

  • gold
  • platinum
  • multi-platinum
  • diamond
A
  • gold: 500,00
  • platinum: 1 million
  • multi-platinum: 2 million
  • diamond: 10 million
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25
Q

typical wholesale price of CD in US for royalty purposes

A

$9-$10

.15 of $9 is $1.35

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26
Q

a point as it relates to artist royalties

A

a 10 point artists gets 10% from each CD sold after recoup

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27
Q

An escalation as it relates to a recording contract

A

the artist gets more points as they become more successful

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28
Q

a 360 deal

A

labels get a piece of artist royalties from every areas

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29
Q

active interest

A

record label does all the work and takes some rights

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30
Q

passive interest

A

sign a record deal but artist finds all other (merch, publishing,etc)

31
Q

options (in reference to recording contracts)

A

give the label the ability to commit to smallest obligation possible while keeping option open while getting as much product as possible

32
Q

what is the trend with options

A

commit to two but insist to bail if first flops

33
Q

does an artist get increased royalties for optional albums

A

yes

34
Q

what is a commitment album

A

“firm album” an album that label ensures

35
Q

types of albums that typically do not count

A

live albums, seasonal albums, must be recorded and released around same time

36
Q

controlled compostion

A

Any song that the artist writes in whole or in part, or that the producer writes in whole or in part, is considered a controlled composition.

37
Q

role of the producer

A
  • oversee and maximize creative process
  • finding/selecting songs
  • managing recording process
  • handling all administration
  • creating “the sound”
38
Q

typical point range in producer contract

A

3 or 4 off of every cd sold (come off the top)

39
Q

what is the difference in how an artsits’ vs. producers royalties are calculated

A

artist must recoup first

producer gets point from every cd

40
Q

the term “record one”

A

the first record sold

41
Q

all in rate

A

the artist is responsible for paying the priducer

42
Q

artists net rates

A

IDK

43
Q

role of the mixer

A

take the multitrack to the final 2 track master. have alot to do with records success and everything to do with how it sounds

44
Q

demo deal

A

done cheap with little time and money. gives the label time to decide if they want to proceed with record deal

45
Q

right to first negotiation

A

after demo deal, if that record label wants to sign they can, even if they dont and artist goes elsewhere, artist must report other deals made before accepting them

46
Q

right to first refusal

A

they can reject rhe offer that was brought by the artsist from another label if they had a demo deal

47
Q

re-record restiction

A

artist cant re-record until a negotiated period of time after

48
Q

what is the term from re-recording

A

five years from the date of recording plus 3-5 years from the end of the term

49
Q

sideman performance

A

artists are allowed to be on other artists records
must be truly background and not featured
of featured must give courtesy of label
cannot violate re-record

50
Q

territory as it relates to recording contracts

A

anywhere a label can sell records. never go for less than the world

51
Q

international royalty rates

A

companies usally pay a higher rate in territories where they have ownership.

52
Q

what are the major territories

A 
United Kingdom
• Australia
• Italy
• Japan
• Holland
• Germany
• France
53
Q

royalty for major territories

A

70-75%

54
Q

smaller territory royalties

A

50-66%

55
Q

soundscan

A

a company that collects and reports

data on how many records are sold at retail.

56
Q

what is soundscan data used for

A

Billboard’s charts as well as being sold to record

companies and others.

57
Q

digital download revenue

A

Labels get “wholesale price” of 70¢ per download

• If artist has 10% royalty, gets 7¢

58
Q

why are digital downloads measured in wholesale for the digital downloads

A

Labels treat downloads as sales not licenses because it’s better to
pay the artist a 10% to 20% royalty on a sale as opposed to a 50% on
a license.

59
Q

mid price records

A

a reduced price to encourage customers to buy old titles

60
Q

typical mid-price for a $12.05 CD

A

$7.75-8

61
Q

royalty rate for midprice

A

75% US rate

62
Q

budget records

A

in budget bins and selling for under $8

63
Q

roylaty for budget records is

A

50%

64
Q

royalty rate foe controlled composition

A

typically 75% of the full mechanical rate of 9.1¢ per song per album

65
Q

artist royalty on digital download

A

15 point artist gets .15 of 70 cents

66
Q

full price records

A

A record sold in the US at full retail through the label’s normal distribution channels

67
Q

schlock

A

yiddish for “garbage” 99 cents or less

68
Q

loan out corporations

A

An artist forms a corporation and it’s the corporation – not the artist – that enters in to record deals.

69
Q

Inducement letter

A

artist promises to deliver artist’s records even if loan out corporation goes bankrupt or ceases to operate

70
Q

wholesale distribution entities

A

Record wholesalers are the major means of distributing records for
the major record companies.

71
Q

one stops

A

One stops buy bulk from manufacturer and sell to
Mom and Pop stores (small, independent stores) in
small quantities

72
Q

rack jobbers

A

Rack Jobbers lease floor space from department
stores (WalMart; Target, etc.) and put in racks of
records

73
Q

licensees

A

Licensees buy a license from the label to actually

manufacture and distribute their own CDs.

74
Q

videogames

A

only flat fee for music based games. the rst are royalty

Survey of Music Business (4 decks)

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