Table Of ContentCover Page: 1
Did You Know That . . . Page: 5
Dedication Page: 6
Acknowledgments Page: 7
Introduction to the Ninth Edition Page: 8
Important Page: 9
1. First Steps Page: 10
Part I: Your Team of Advisors Page: 13
2. How to Pick a Team Page: 14
Getting Your Team Together Page: 14
Business Philosophy Page: 14
Hiring a Team Page: 14
Changing a Team Member Page: 19
Cocktail Party Talk Page: 20
3. Personal Managers Page: 21
Role Page: 21
Commission Overview Page: 21
Negotiating the Manager’s Deal Page: 21
Picking the Right Manager Page: 25
4. Business Managers Page: 27
Role Page: 27
How to Pick a Business Manager Page: 27
Business Manager Checklist Page: 27
Fees Page: 28
Your Half of the Job Page: 29
5. Attorneys Page: 30
Picking a Lawyer Page: 30
Fees Page: 31
Conflicts of Interest Page: 31
Attorney Checklist Page: 32
6. Agents Page: 33
Role Page: 33
Fees Page: 33
Deal Points Page: 33
Picking an Agent Page: 34
Part II: Record Deals Page: 35
7. Broad-Strokes Overview of the Record Business Page: 36
Industry Structure Page: 36
A Word About Retailers Page: 42
Do You Need a Record Label? Page: 42
What’s a Record? Page: 43
Masters Page: 44
Royalty Computation Page: 44
Ye Olde Royalty Calculations Page: 47
8. Advances and Recoupment Page: 51
Advances: The Basic Concept Page: 51
Cross-Collateralization Page: 53
9. Real-Life Numbers Page: 56
Overview Page: 56
Royalties Page: 56
Advances Page: 58
360 Rights Page: 59
10. Other Major Deal Points Page: 62
Amount of Product Page: 62
How Long? Page: 63
Delivery Requirements Page: 64
Controlled Compositions Page: 65
Greatest Hits Page: 65
Live Albums Page: 66
Guaranteed Release Page: 66
Independents Day Page: 67
11. Producer and Mixer Deals Page: 69
What’s a Producer? Page: 69
Royalties Page: 69
Advances Page: 70
Other Royalty Computations Page: 71
Who Hires the Producer? Page: 71
A Major Point—Pay Attention Page: 71
Mixers Page: 73
12. Advanced Royalty Computations Page: 74
Distribution Methods Page: 74
Royalties for United States Sales Page: 74
Foreign Royalties Page: 74
Reserve Limitations Page: 75
SoundScan Page: 75
Master Licenses Page: 75
Electronic Transmissions, Including Digital Downloads, Digital Streaming, and Things That Go Bump in the Night Page: 76
Coupling and Compilations Page: 82
Joint Recordings Page: 82
“Greatest Hits” Albums Page: 82
Multiple Albums Page: 83
Box Sets Page: 84
Television Advertising Page: 84
DVDs and Other Home Video Devices Page: 84
Mid-Price Records Page: 85
Budget Records Page: 85
New and Developing Artist Prices Page: 86
Record Clubs Page: 86
Cutouts, Deletes, Scraps, and Other Food for Bottom Feeders Page: 86
Premiums Page: 86
Video Games Page: 87
DART, Digital Performance, and Webcasting Monies Page: 87
Public Performance of Masters Page: 87
Accountings Page: 88
13. Advanced Record Deal Points Page: 89
Advanced Demo Deal Negotiation Page: 89
Exclusivity Page: 90
Videos Page: 93
Independent Promotion Page: 94
Merchandising Rights Page: 94
Tour Support Page: 95
Territory Page: 96
Union Per-Record Charges Page: 97
Album Cover Artwork Page: 98
Creative, Marketing, and Other Controls Page: 98
14. Loan-out, Independent Production, Label, and Distribution Deals Page: 99
Loan-out Deals Page: 99
Independent Production Agreements Page: 103
Joint Ventures Page: 105
Pressing and Distribution (P&D) Deals Page: 107
Upstream Deals Page: 108
Part III: Songwriting and Music Publishing Page: 109
15. Copyright Basics Page: 110
Basic Copyright Concepts Page: 110
What Are All These Rights You Get? Page: 110
Exceptions to the Copyright Monopoly Page: 110
Compulsory Mechanical Licenses Page: 111
16. Publishing Companies and Major Income Sources Page: 114
Publishing Overview Page: 114
Sources of Income Page: 119
Public Performance Royalties Page: 119
Mechanical Royalties Page: 123
Controlled Composition Clauses Page: 124
Maximum Rate Per Song Page: 124
Maximum Rate Per Album, EPs, and Singles Page: 126
17. Secondary Publishing Income Page: 130
Synchronization and Transcription Licenses Page: 130
Electronic Transmissions, Including Digital Downloads, Ringtones, Webcasting, Subscription Services, and Podcasting Page: 132
Printed Music Page: 136
Foreign Subpublishing Page: 138
P & U Page: 141
DART Monies (Audio Home Recording Act of 1992) Page: 141
Bonus Section! Page: 142
How to Set Up a Publishing Company Page: 142
18. Songwriter Deals Page: 143
Songwriter Royalties Page: 143
Standard Contracts Page: 143
Performance Monies Page: 143
Print Music Royalties Page: 144
DART, Webcasting, and Interactive Streaming Monies Page: 145
Advances Page: 145
Term Songwriter Agreements Page: 145
Pop Quiz Page: 150
Co-writes (Songs Written by Two or More Songwriters) Page: 150
Creative Control Page: 151
Reversion of Copyright Page: 152
19. Copublishing and Administration Deals Page: 154
Copublishing Deals Net Page: 154
Administration Agreements Page: 156
Now Look Where You Are! Page: 157
20. Advanced Copyright Concepts Page: 158
Who Owns the Copyright? Page: 158
Works for Hire Page: 158
Duration of Copyright Page: 159
Right of Termination Page: 160
Digital Performance of Masters and Webcasting Page: 161
21. Even More Advanced Copyright Concepts Page: 165
I Got You Twenty, Babe Page: 165
How to Terminate a Copyright Transfer in Your Spare Time, for Fun and Profit Page: 165
Extension Rights Page: 166
Digital Samples Page: 167
Sound Recording Copyrights Page: 168
The Copyright Notice Page: 169
Registration and Deposit Page: 169
What You Get When Someone Rips Off Your Copyright Page: 170
Part IV: Group Issues Page: 171
22. Groups Page: 172
Group Provisions in Record Deals Page: 172
Trivia Quiz Page: 172
Internal Group Deals Page: 173
What’s in a Name? Page: 176
Part V: Touring Page: 181
23. Personal Appearances—Touring Page: 182
Roles of Team Members Page: 182
Marketing Page: 184
Personal Appearance Deals Page: 184
New Artists Page: 184
Midlevel Artists Page: 185
Heritage Acts Page: 186
Superstar Touring Page: 186
VIP Ticketing Page: 188
Sponsorship Page: 188
Hall Fees Page: 188
Riders Page: 188
I’ll Take the Whole Thing . . . Page: 189
Lining Your Pockets with More Gold Page: 190
Part VI: Merchandising Page: 192
24. Tour Merchandising Page: 193
Merchandisers Page: 193
Royalties Page: 193
Hall Fees Page: 193
Advances Page: 194
Term Page: 194
Advance Repayment Page: 195
Exclusivity Page: 195
Creative Control Page: 195
Sell-off Rights Page: 196
Bootleggers Page: 196
25. Retail Merchandising Page: 197
Royalties Page: 197
Other Deal Points Page: 197
Caution Page: 197
Part VII: Classical Music Page: 198
26. Classical Music Page: 199
Term and Product Page: 199
Royalties Page: 199
Advances Page: 199
Mechanical Royalties Page: 199
Marketing Tie-ins Page: 199
Part VIII: Motion Picture Music Page: 200
27. Overview of Motion Picture Music Page: 201
Introduction Page: 201
One Song—Eight Deals Page: 201
The Rights Involved Page: 201
28. Performer Deals Page: 202
Overview Page: 202
Performance in the Film (No Record Rights) Page: 202
Record Rights to Film Performances Page: 203
29. Film Songwriter Deals Page: 206
Terminology Page: 206
Deal Points Page: 206
30. Composer Agreements Page: 208
Deal Points Page: 208
Package Deals Page: 211
Creative Financing Page: 212
Television Composers Page: 213
Video Game Composers Page: 214
31. Licensing Existing Recordings and Existing Songs for Motion Pictures Page: 216
Master Licenses Page: 216
Licensing Existing Musical Compositions for Films Page: 217
Film Music Quiz Page: 217
32. Music Supervisors Page: 218
Role Page: 218
Fees and Royalties Page: 218
Television Supervisors Page: 218
33. Soundtrack Album Deals Page: 219
Score Albums Page: 219
Song Albums Page: 219
Cost Covering Page: 219
Other Issues Page: 219
Conclusion Page: 221
About the Author Page: 223
Index Page: 226
Copyright Page: 234
Description:All You Need to Know About the Music Business by veteran music lawyer Don Passman—dubbed “the industry bible” by the Los Angeles Times—is now updated to address the biggest transformation of the music industry yet: streaming. For more than twenty-five years, All You Need to Know About the Music Business has been universally regarded as the definitive guide to the music industry. Now in its tenth edition, Donald Passman leads novices and experts alike through what has been the most profound change in the music business since the days of wax cylinders and piano rolls. For the first time in history, music is no longer monetized by selling something—it’s monetized by how many times listeners stream a song. And that completely changes the ecosystem of the business, as Passman explains in detail. Since the advent of file-sharing technology in the late 1990s to the creation of the iPod, the music industry has been teetering on the brink of a major transformation—and with the newest switch to streaming music, this change has finally come to pass. Passman’s comprehensive guide offers timely, authoritative information from how to select and hire a winning team of advisors and structure their commissions and fees; navigate the ins and outs of record deals, songwriting, publishing, and copyrights; maximize concert, touring, and merchandising deals; and how the game is played in a streaming world. “If you want to be in music, you have to read this book,” says Adam Levine, lead singer and guitarist of Maroon 5. With its proven track record, this updated edition of All You Need to Know About the Music Business is more essential than ever for musicians, songwriters, lawyers, agents, promoters, publishers, executives, and managers—anyone trying to navigate the rapid transformation of the industry.
