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Management:
oversee artist, buffer between artist and world
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Attorney/entertainment lawyer:
negotiate deals, industry relationships, shop deals, and contracts
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Business management:
accountant, payroll for crew, taxes, commissions
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How is Management paid?
15-20% commission
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How are Attorneys paid? (3 ways)
- hourly
- value billing (retainer+hourly+if/when they make you money)
- 5% of whatever you make
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How is Business Management paid?
hourly or 5% of whatever you make
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How are Agents paid?
typically on commission of 10% of the money you get from the live show they get you
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Main responsibilities of a manager:
- help make decisions
- help with creative process
- promote and build hype
- assemble team and oversee duties
- coordinate with agent
- keep record company on the ball
- buffer between artist and outside world
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What is a record deal exactly?
a deal with another entity that helps you get your music out there
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Album/Record:
a collection of songs, usually by the same artist
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Compilation:
collection of songs by several artists
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What is the biggest music retailer?
iTunes
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3 Major labels:
UMG, WMG, Sony Music Entertainment
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Indie label:
not owned by conglomerate, sometimes starts form DIY
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What did A&R traditionally do?
find artist to match with songs
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What does A&R do NOW?
find new talent and develop them, match producers and artists, match songwriters and cowriters, generally oversee project
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What is A&R people called?
talent scouts
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What is a "finders fee"?
payment to the guy that finds something successful
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Advance money:
money given to artist to sign with the label
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What does "recoupable" mean?
you need to pay it back!
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Royalties:
money made from recorded music (sometimes called points)
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Imprint label:
artist runs their label on a major label
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Royalty rate:
usually 12-18% of wholesale price
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Intellectual property:
something you created
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Artist royalty:
royalty to performer
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Compulsory license:
you need to let people use your stuff
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Publishing:
making your composition available to the public
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Mechanical royalty:
songwriters share of physical units
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What is the mechanical royalty rate?
$0.091 per song, limited to 10 songs on a album
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Performance royalty: (broadcast)
money paid to you for TV, radio, film, stores, elevators, etc. (non-interactive)
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What do you need to do to get paid?
affiliate with a Performance Rights Organization like ASCAP or BMI
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How long does a copyright last?
life of the artist plus 70 years
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Copyright:
legal protection against unauthorized use of your intellectual property; exists when you record or write down your work
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Publishing splits:
equal split by law - lyrical and musical
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What is the "music" and "lyrics"?
- music: melody and integral groove/hook/riff
- lyrics: words
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How does the pay get split for publishers and writers?
- Writer: 50%
- Publisher: 25%
- other 25% is somewhere else
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Sync royalties:
if someone wants your music for a movie/TV; you're paid upfront
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Print royalty:
royalty on sheet music/tabs/songbook
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Special use:
using music in video games, audiobooks, toys, Hallmark cards
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What is the difference between LP and EP?
LP is longer than 30 minutes, EP is under 30 minutes
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