Music Business Fundamentals
The business of music is a global multi-billion dollar industry comprised of individuals creating the music, and a whole lot of people doing everything else: working at labels, distribution companies, publishing companies, recording studios, artist management, promotion, producing, and legal counsel. If you are looking to further your career in the business end of the music industry, you cannot be successful without first understanding the entire industry as a whole. Music Business 101 presents a broad overview of the music industry, and explains how its various segments operate on a day-to-day basis: where monies are generated, who the key players are, how deals are made and broken, how to protect your interests, and new developments in digital technology that are changing the way that music is marketed, promoted, distributed, and heard. This course presents the career opportunities that are available within the industry, and the knowledge you’ll need to achieve your goals.
By the end of this course, you will:
- Recognize the structure of, and relationship between, the recording, music publishing, marketing and live performance industries
- Learn about different career and income opportunities, and develop a strategy to break in and succeed in the music industry
- Understand the business aspects involved in the producing, manufacturing, marketing, distributing and other use of recordings and the live performance trade.
Syllabus
- Music Industry History
- Three Big Ps for Success in Today’s Music Industry
- The Digital Revolution
- Today’s Music Business
- Major and Independent Record Labels
- Types of Deals
- Royalties
- Advances
- Flat Fees
- Cross Collateralization
- 360 Deals
- Production Deals
- Conventional Deals
- Label Deals
- Joint Venture Deals
- Pressing and Distribution (P and D) Deals
- Getting Connected
- Variations and Importance of Recording Agreements
- Contract Provisions
- Royalties
- Advances
- 360 Degree Deals
- Protecting Your Work
- Importance of Copyright
- History of Copyright
- How to File a Copyright
- Bundle of Copyright
- Copyright Infringement/Fair Use
- Career Opportunities in the Music Industry
- Managers
- Agents
- Attorneys
- How Deals End
- 7 Year Rule
- Minors
- Key Person Clause
- Bankruptcy
- Restraint of Trade
- Forming Your Own Business
- Choosing the Proper Entity for Your Business
- Protecting Your Business’s Name and/or Trademarks
- Career Opportunities in the Music Industry
- Managers
- Agents
- Attorneys
- How Deals End
- 7 Year Rule
- Minors
- Key Person Clause
- Bankruptcy
- Restraint of Trade
- Determining the Budget
- Choosing the Studio
- Finding the Right Venue for Your Live Show
- Choosing the Producer or Engineer
- Mastering
- Other Considerations for Putting on a Live Show
- Business Basics for Putting Out Your Recording or Putting on a Show
- Sampling Artwork & Liner Notes
- Record Format or Configuration
- Picking the Manufacturer
- Packaging
- UPC Barcode and BDS Registration
- Identifying Your Market for Your Show or Record Release
- Finding a Distributor
- Preparing the One-Sheet
- Working out the Deal
- Overview of Major Label Marketing Process
- Importance and Process of Radio
- Publicity
- Touring
- Social Media
- Distributing your Recordings
- Preparing a One-Sheet
- Introduction to Music Publishing
- Different Types of Music Publishing Revenue
- More Uses for Your Music
- Getting Your Music Placed
- Touring Considerations
- The Promoter
- The Riders
- The Artist’s Fee
- Live Performance as a Revenue and Promotion Opportunity
- Sponsorship and Endorsement Opportunities
- Assignment: Putting the Final Touches on Your Plan
- Streaming and Internet Radio
- Music in Mobile Applications
- Merchandise and Product Development Opportunities
- Assignment: Feedback on Project Plans