MTM 3010 Intro to Music Industry Final Exam - Full Set

MTM 3010 Intro to Music Industry Final Exam - Full Set 360 deals Record company receives percentage of artist's income streams. Role of independent labels Discovering new talent in the music industry. Role of major labels Financial backing, elaborate recordings, promotion, and distribution power. Types of major label record deals In-house, artist already under contract, independent artist/producer deal, master lease, artist production company. Typical record producer royalties 2%-6% royalty depending on leverage. SWOT analysis Strengths, Weaknesses, Opportunities, Threats. SMART Goals Specific, Measurable, Achievable, Relevant, Time-bound. Album Equivalent Unit Measurement unit in music industry equal to the purchase of one album copy. Track Equivalent Albums Sum of song sales divided by 10, 10 song downloads = 1 album unit. Stream Equivalent Albums Sum of audio song streams divided by 1,250 (premium) or 3,750 (free), equivalent to 1 album unit. Distribution Process of making music available for purchase. Spec Employed without assurance of payment. Reversion clause Ownership of works reverts back to songwriter after a certain period or conditions are met. Overdubbing Fine-tuning, fixing, recording vocals, and adding elements to a track. Mixing Decisions about performances, leveling, tonal qualities, and instrument placement in a stereo mix. Mastering Final touches to make the product ready for mass production. Tracking Capturing basic elements of a song (backing tracks). Programming radio Sequencing acts/music, playlist management. Terrestrial radio Broadcasting by land-based radio stations. Typical adds per week (radio) 10-15 songs. High culture music programs Classical music, opera, and theater. Low ratings and high production costs Challenges in the music industry. Video commissioner Oversees music video and audiovisual content creation for artists. Film score Composed, performed, and recorded music synchronized with a motion picture. Fix sum buyout of rights Purchase of rights in a property for a lump sum, rather than royalties. Package deal Combined goods or services delivered under one price tag. Purpose of station Logo/ID Ensuring easy identification of the radio station and compliance with FCC regulations. Cost to produce a first-class Broadway Musical $10 million or more. Revenue streams from musicals Various sources of income generated by musical productions. Royalty free music Music that can be used without paying royalties. Trade associations for musical instrument industry National Association of Music Merchants (NAMM), National Association of Professional Band Instrument Repair Technicians (NAPBIRT), Guitar and Accessories Marketing Association (GAMA). Number of musical instrument stores in the U.S. 11,485 as of September 24, 2023. Business music Music used by business owners to attract customers and motivate employees. Background music Unobtrusive accompaniment to work, shopping, conversation, dining, and relaxation. Needle drop Brief recorded passage used in a dramatic program or broadcast commercial. Cue Short musical passage composed to accompany dramatic action or underscore dialogue. Web based tool categories for indie artist Sales/Promotion, Financing, Touring, Licensing. Useful social media platforms for indie artist Facebook, Tumblr, Foursquare, H, Robot, Twitter, Instagram, TikTok, Triller. Basic business structures Sole Proprietorship, Partnership, Corporation. Most common funding source for new businesses Bank loans. Freemium Business model offering basic features for free and charging for advanced features. Crowdfunding Raising money through donations from various sources. Income statement Shows revenue, expenses, and profits. Balance Sheet Shows assets, liabilities, and equity. Initial public offering/IPO First-time offering of shares to the public. Options for classical music composers Teaching, commissions, contests, reputation building, networking. Role of music therapist Assessing and improving clients' well-being through musical responses. Role music supervisor Overseeing music-related aspects of projects, soundtracks, and audiovisual content. Role of program directors (radio) Planning and scheduling program material for stations and networks. Best salaries for program directors $39,000 to $124,000 per year. Music industry job openings in the US Approximately 1 million. Value of internships Practical experience, networking, and application of learned concepts. Elements of a resume Addressing, focusing on reader's goals, positive language, no negatives, availability of references, emphasizing 'you', perfect formatting, one-page length. Interview protocol Dressing appropriately, being helpful, respectful, and prepared, discussing salary, focusing on solving the interviewer's needs, sending a thank-you note. What impact did radio have on the popularity of music? Unintentionally spread American music across the world. What were the cultural groups involved in Minstrel shows of the 19th century? Began as White only, eventually incorporated black people (also in blackface). What was the impact of Napster? P2P file sharing allowed for people to obtain music for free, tanking music sales revenue for labels. What was the impact of iTunes? Created a system to monetize digital music. What are the factors that contribute to the success of those in the music business? Motivation, Talent, Perseverance, and Studying the Business. What is a rack jobber? A company or trader that displays and sells products in non-traditional outlets. What is P2P (Peer-to-Peer)? A distributed application architecture that partitions tasks between peers. What is Intellectual Property? A work or invention that is the result of creativity and has legal rights. What is Digital Rights Management (DRM)? - The use of technology to control access to copyrighted material. - Aims to protect copyright holder's rights and prevent unauthorized distribution/modification. What is the Copyright Act of 1790? An act that granted American authors the right to print, re-print, or publish their work for 14 years (and renew for another 14). What did the 1909 Revision of copyright law do? Extended the term of protection to 28 years with a possible renewal of 28. What did the 1976 Revision of copyright law do? Extended the term of protection to life of the author plus 50 years. What did the 1998 Revision (Sonny Bono Copyright Term Extension Act) do? Extended protection to life of the author plus 70 years. What was the purpose of the 1710 Statute of Anne in England? To address concerns of English booksellers and printers, establishing principles of authors' ownership of copyright and fixed term of protection. What did the 1710 Statute of Anne prevent? A monopoly on the part of booksellers and created a 'public domain' for literature. Who does ownership vest with at the inception of copyright? Authors and proprietors. What are the bundle of rights associated with copyright? Rights to reproduce, distribute, display, perform, and create derivative works. What is reproduction in copyright? To reproduce the copyrighted work in copies or phonorecords. What is adaptation in copyright? To prepare derivative works based upon the copyrighted work. What is publication in copyright? To distribute copies or phonorecords of the copyrighted work to the public. What is performance in copyright? To perform the copyrighted work publicly by means of a digital audio transmission. What is display in copyright? To display the copyrighted work publicly. What are the elements of a PA copyright? Lyrics (words) and melody (beat). What is Form PA used for? Registration of music and/or lyrics. What is created when the elements of a composition are recorded? A sound recording (SR) copyright. What is Form SR used for? Registering the performance and production of a particular recording of sounds. What is the typical publisher share in a song's net mechanical royalty with the writer? 50/50. What was the Harry Fox Agency?