Details Title: Artist Management Full Sail MBBS Description: Midterm study guide for Artist Management Total Flash Cards: 48 Created: 09/08/2009 20:19:40		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Business Flashcards
Cards in this set: Term Managing an artist in the music business uses what three aspects to achieve success for their clients? Definition Science, business, creativity Term What are the four functions of management? Definition • Planning • Organizing • Leading • controlling Term The difference between success and failure in any endeavor can often be tied to? Definition • planning Term . What is planning? Definition • Where do you want to go? • Why do you want to go there? • How will you get there? • What do you need in order to get there? • How will you know if you are there or not? Term . What is organizing? Definition • Assembling necessary resources • Arranging resources • Defining responsibilities of team Term What is leading? Definition • Taking initiative • Ensuring efficient use of talents and energy • Coordinating energies of artists team • Keep everyone motivated Term What is controlling? Definition • Monitoring • Making adjustments when necessary • Anticipate what could go wrong • Ability to spin things in the artists favor Term What skills and personal traits are necessary to artist management? Definition • Understanding of human nature o Study why people react the way they do • Leadership • Coaching • Networking • Social skills • Good use of communication Term What does a manager need to know before they can play into a gatekeeper’s ego? Definition • What drives the gatekeepers ego Term What is coaching? Definition • Short-term circumstances that always seek to improve the artistry of the artist Term What skill should be used to grab the attention of those the manager means to impress? Definition • creativity Term The music industry is one that is moving from being hit-driven to one that serves countless________ Definition Niches Term How much money does the international music business earn anually? Definition 75 Billion Term How much of the international music business earnings are attributed to management and booking? Definition 10 Billion or 13% Term An artist manager typically earns what percentage of an artist's income? Definition 10%-25% Term management icon Lee Iacoca has said that the one word that best sums up the best manager is _____________ Definition decisiveness Term The Shelf life of artist's career in the music business can best be described as? Definition Limited Term The most effective artist managers are those who do not? Definition Take the actions or in-actions of others personally Term What are the six realities of the music business that have the potential to create stress? Definition 1. A lot of people will say no, a lot of gatekeepers will seem immovable • 2. You are only a player in the music business if you are relevant • 3. Keeping the spirits of your artist up during a continuing roller coaster will be draining for you • 4. People will string you along • 5. People will disappoint you • 6. The agendas of many people in the music business determine whether you matter to them. Term The new artist manager in the music business needs to understand what? Definition Where power comes from and who has it Term What is the power of money? Definition Having Money Having the ability to earn money Having money to influence decisions Term What is the power of access? Definition Those who can reach and influence key decision makers have power that many people do not Term Most labels will seek artists who are genuine and unique in their own ways, who have the potential for __________ Definition Commercial Success Term The most important thing to do to polish a performer is?> Definition Live Performance Term Managers and labels are seeking artists who experience doing what? Definition Selling Concert tickets and records Term The artist network is made up of? Definition A network of supporters with whom the artist regularly communicates about their music Term The professionalism of an artist is evident to potential career supporters through____________________________ Definition Professional, friendly, outgoing demeanor and a professional looking website with proper grammar Term What is one of the most valued assets of an artist manager? Definition Time Term What is perhaps the most important meeting an artist manager may have? Definition a meeting with a record label or publishing company Term What information will a label be interested regarding an artist? (longest flash card ever answer ever, sorry) Definition • The artist’s music • The artist’s image • The artist’s confidence in who they are • Their experience and seasoning as an artist • The artist’s uniqueness • Strengths of the artist’s manager • Does the artist have an existing publishing deal • How much touring has the artist done? How much is planned? • Sponsorship and merchandise deals? • Experience selling tickets and records • Internet traffic to the artist’s social networking sites • The existing fan-base? Who should the target market be? • Publicity, awards, talent, shows, etc. • Commercial viability? Term What information should an artist manager be interested in regarding a label? Definition • Similar artists currently on the label roster • Does the label budget allow for new artists • Does the label have the necessary staff to support another artist? • How risk averse is the label’s reputation • Number of acts on the label roster o Has it recently been cut? • Recent history of label album and single sales • Politics of the label/recent personnel changes Term What does the manager want to happen during and as a result of a meeting with a label? Definition • Listen • Comprehend • Influence • Take action Term How should the manager decide if the artist should attend a meeting with the record company? Definition • Depends on two things o Will the artist add anything to the meeting? o Does the artist feel comfortable in this kind of setting? Term How should an artist manager conclude a meeting with a record label? Definition 1. Restate the reasons that the artist should be signed 2.Ask when to follow up ( if answer is unclear, then you tell them when you'll follow up with them) 3. Thank the assistant who set up the meeting for you Term Michelangelo was quoted as saying? Definition " The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it." Term What is the starting point for a creating a plan? Definition Chose a set of goals Term What is required to achieve a goal? Definition A strategy Term What is the best way to develop a good set of strategies? Definition 1. Create a time-line beginning with the goal 2. Work Backwards 3.Determine what must be done to reach the goal Term The manager has a duty to keep the artist financially ___________ Definition Stable/Solvent Term Artist generally receive payment before or after taxes have been deducted? Definition Before Term What form is sent in January to both the artist and the IRS by various employers as a reminder that earnings were paid, and taxes are still owed? Definition 1099 Term What should be done to keep events organized and separate from each other? Definition Keep a written plan and budget for each event. Include things such as time, place, purpose, travel info, etc. Term What is the objective of a showcase? Definition To enter into a business agreement with a label, publisher,etc. Term What is the ideal time of day for a showcase? Definition Late Afternoon (after work) Term How long should a showcase last? Definition About an hour 30 min for arrival/greeting 20 min performance last ten min: artist works the room Term What should be handed out to people as they are leaving a showcase? Definition Press Kits (possibly newly designed for the showcase because many in attendance will already have a copy of the artist's press kit) Term What size venue is best when throwing a showcase? Definition Large enough for the event, small enough to fill Term follow up calls and confirmations can be helpful in preventing conflicts when putting on an ________________ Definition event or showcase