Term
| Any business requires an understanding of what? |
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Definition
| The product or service we are providing and to whom we are providing to |
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Term
| A target market is defined as? |
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Definition
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Term
| You will only succeed in selling music or concert tickets to a consumer if they have the ______ and the _____ to buy them. |
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Definition
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Term
| What is market segmentation? |
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Definition
| Tarketing a smaller segment of a broader market |
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Term
| What are the various ways to view a market segmentation? |
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Definition
| Demographics, geographic location, psychographic-lifestyle, behavior |
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Term
| How do we define an artist's brand? |
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Definition
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Term
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Definition
| The way people feel about a product or artist |
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Term
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Definition
| A symbol that represents the brand and distinguishes it from other products |
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Term
| What is an "individuals right of publicity"? |
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Definition
| People have the right to control the commercial exploitation of their: names, image, or likeness |
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Term
| Traditional members of an artists support team will include? |
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Definition
| Booking agent, attorney, publicist, business advisors-banker, insurance expert, accountant, business manager |
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Term
| What business types could the artist choose to form? |
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Definition
| Proprietorship, partnership, corporation, or LLC |
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Term
| What is the initial business form that a solo artist typically assumes? |
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Definition
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Term
| How much liability is involved in a proprietorship? |
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Definition
| Unlimited personal liability |
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Term
| How much liability is involved with a partnership? |
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Definition
| All members are liable personally and professionally for any lawsuits brought against them |
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Term
| What are the 5 principal job areas that support an artist who will be earning from live performances? |
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Definition
| Promoter, booking agent, tour manager, business manager, artist manager |
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Term
| How does a manager or business manager determine whether a performance or series of tour performances is worth accepting? |
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Definition
| After the expenses have been subtracted, does the live performance make the artist any money |
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Term
| Is there any circumstance under which it makes sense to accept a performance to which the artist will only break even rather than make money? |
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Definition
| Yes, if the gig has promotional value |
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Term
| When creating a budget for performances that require tickets it is important to consider what? |
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Definition
| A detailed list of all expenses |
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Term
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Definition
| Money given to the artist by the record label to offset losses incurred while on tour. |
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Term
| Is tour support recoupable? |
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Definition
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Term
| Does a manager earn a percentage on tour support? |
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Definition
| No, the label views tour support as a cost of doing business rather than a payment for service |
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Term
| What are required qualities of a tour manager? |
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Definition
| Patience, orientation to detail, and understanding of human nature |
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Term
| What does the tour manager do? |
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Definition
| Reports to the artist manager, creates itinerary, finalizes travel schedule, confirms mode of transportation, reserves overnight accomadations, supervise the crew, handle and collect money. |
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Term
| How is promotion of a live performance achieved? |
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Definition
| Publicity, advertising, active presence on the internet, radio play |
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Term
| What does the performance contract encompass? |
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Definition
| The hiring company, date and time, location, services provider, rider |
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Term
| What is a rider and what does it include? |
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Definition
| A list of personal needs of the artist prior to and during the performance |
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Term
| Under what circumstances can the performance be cancelled? |
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Definition
| Death of key personnel or health of the artist |
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Term
| Who is responsible for arranging the production and manufacture of merchandise, and arranges for it to be sold at live performance? |
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Definition
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Term
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Definition
| Essentially, it's a passport for equipment. It can expedite getting the equipment through customes. It prevents having to pay import duties or taxes on equipment. |
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Term
| When an international tour is in the works, the first thing a manger should do is ensure that all band and crew members have what? |
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Definition
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Term
| Songwriting will give the artist access to another? |
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Definition
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Term
| How does a typical publishing deal work? |
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Definition
| Artist gives the copyright to the publishing company. Artist receives 50% of publishing royalties. Other 50% goes to publishing company |
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Term
| What if there is more than one songwriter in a publishing deal? |
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Definition
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Term
| What is current statuatory rate paid to the songwriter? |
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Definition
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Term
| How much of the statuatory rate is paid to the songwriter? |
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Definition
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Term
| Why does the label only pay 3/4 rate? |
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Definition
| The label feels that because they are promoting the recordings, the writer is receiving a benefit and should be shared with the label |
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Term
| What does a Performing Right Organization (PRO) do? |
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Definition
| They license the use of copyrighted musical compositions for public performance, then they collect royalties for the use on behalf of publishers and songwriters |
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Term
| What are the three Performaning Rights Organizations? |
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Definition
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Term
| Essentially what are the 2 promises being made by artist and label in a recording contract? |
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Definition
| The artist promises to create recordings exclusively for the label. And the label promises to commercially exploit the recording |
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Term
| What does cross-collateralization mean? |
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Definition
| Occurs when losses from a previous album are carried forward and must be recouped though royalties of the current album |
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Term
| When does the label begin to distribute royalty checks? |
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Definition
| 3 quarters or 9 months after the record release date |
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Term
| Are the artists paid the full amount that is due to them when royalties are paid? |
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Definition
| No, the label withholds 20% of the royalties to compensate for records that may be returned |
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Term
| How does an artist manager determine if the royalty payments to the artist are accurate? |
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Definition
| Audit. The artist gets a 2 year window to request an audit |
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Term
| Does the label have a say in the producer of the recording? |
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Definition
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Term
| What pecentage of record sales worldwide are attributed to independent labels? |
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Definition
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Term
| A successful record release for an independent label sells about how many units? |
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Definition
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Term
| What is the business of radio? |
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Definition
| To build an audience to lease to advertisers |
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Term
| A radio programmer when choosing music will want to? |
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Definition
| Look for songs that will keep current listeners and attract new ones |
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Term
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Definition
| Keeps track of record sales in the US |
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Term
| What are the 2 kinds of charts that a manager should be familiar with? |
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Definition
| Record Sales and radio airplay |
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Term
| Should the artist and manager emply the same attorney? |
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Definition
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Term
| Can an artist have more than one manager? |
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Definition
| No, two people getting paid to do the same work |
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Term
| Can a manager work with more than one artist? |
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Definition
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Term
| The typical length of a management contract is? |
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Definition
| 3 years with option to extend 2-4 years |
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Term
| It is in the manger's best interest to sign a _____ term contract |
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Definition
| Long more time to develop and work with artist |
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Term
| The following clause: "The manager is not obligated to seek, obtain, or procure any employment or engagements for the artist" is found in a management contract for what purpose? |
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Definition
| It's not the managers job to book shows |
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Term
| What is a sunset clause or blackout period? |
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Definition
| Specify commissions to the manger in the event of the death of the artist |
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Term
| What is the "key man" clause? |
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Definition
| If person you sign with leaves for any reason the contract can be nullified |
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Term
| What form of business operates and funtions very much like a partnership but gives the members the protection from personal liability the way a corporation does? |
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Definition
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Term
| What is the single most important thing you can do to monitor your artist's audience? |
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Definition
| Website - Put a form where fans can enter contact information |
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Term
| A common alternative to a management contract defined by time is one defined by the number of? |
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Definition
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Term
| What expenses are typically picked up by the label? |
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Definition
Music video (half, up to $100,000) Radio promo (50/50 if down out of house) Manufacturing Marketing & Advertising |
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Term
| The manager's services to the artist will include advice on? |
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Definition
1) Appropriate music & show design 2) Publicity, PR, adveertising 3) Image & related matters 4) Booking talent agencies 5) Selection of key team members 6) All phases of their career in the entertainment business |
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Term
| What is the power of attorney? |
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Definition
| Power to sign on behalf of someone else |
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Term
| What exactly is a career plan? |
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Definition
| Road map to get us from where we are to where we want to be |
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Term
| Is a career plan subject to change? |
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Definition
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