For fifteen years, All You Need to Know About the Music Business has been universally regarded as the definitive, essential guide to the music industry. Now in its sixth edition, it has been completely revised and updated with crucial, up-to-the-minute information on the industry's major changes in response to today's rapid technological advances and uncertain economy. Veteran music lawyer Donald Passman is in the thick of this transformation and understands that anyone involved in the music business is feeling the deep, far-reaching effects of it. This latest edition of what the Los Angeles Times called "the industry bible" will lead novices and experts alike through the fundamental practices as well as the new, uncharted territory of one of this country's most dynamic industries.
In the music business, the key to success lies in knowing how to protect yourself. To do that, you need the best and most up-to-date advice available. Whether you are -- or aspire to be -- a performer, writer, or executive, Passman's comprehensive guide to the legal and financial aspects of the music world is an indispensable tool. Drawing on his unique professional experience as one of the most trusted advisors in the industry, Passman offers authoritative information on how to:
- Select and hire a winning team of advisors -- personal and business managers, agents, and attorneys -- and structure their commissions, percentages, and fees in a way that will protect you and maximize these relationships
- Master the big picture and the finer points of record deals
- Navigate the ins and outs of songwriting, music publishing, and copyrights
- Maximize concert, touring, and merchandising deals
This latest edition also includes information on:
- Music downloads, webcasting, streaming-on-demand, and podcasting
- The new video streaming services
- How royalties are computed in the digital age
- The latest developments in deals with independent labels, including upstream deals
- Updates on all the traditional industry matters, such as royalties, advances, video budgets, and copyright law
In All You Need to Know About the Music Business, one of the industry's most influential figures shows you how to thrive in the most exciting business in the world. It's a book that no musician, entertainment lawyer, agent, promoter, publisher, manager, record company executive -- anyone who makes their living from music -- can afford to be without.
"Should be required reading for anyone planning or enduring a career in the biz."-- Rolling Stone
"Any creative person who's considering working in the music business should read this book."-- Jimmy Lovine, chairman, Interscope Geffen A&M Records
"I highly recommend this book to anyone with an interest in the music business."-- David Geffen
"I've spent ten years trying to get Don to open up like this to me. Never has he been so eloquent, so patient, or so thorough. It cost me a fortune to get these diamonds from Don: Now you can have them. For your own. At a fraction of the cost."-- Tom Waits
"This man is so knowledgeable that it's difficult negotiating with him. The book is terrific and a must-read if you want to know how the music business works."-- Joe Smith, former president and CEO, Capitol Records/EMI Music, Inc.
"I almost hesitate to recommend Don's book -- it gives away more inside information than it should."-- Mo Ostin, chairman of the board, DreamWorks Records
"An entertaining and professionally written primer on the music business."-- Michael Eisner, former CEO, the Walt Disney Company
"I highly recommend Don's book to anyone who has ever been interested in the music business. His experience and insight into the inner workings of the music world make this an indispensable work."-- Quincy Jones
"If I'd had this book when I started, I'd be ten times richer and would have saved a fortune in legal fees."-- Ed Bicknell, manager, Dire Straits
Introduction to the Sixth Edition
Welcome, welcome. The industry has been through a few changes since we last met. You know, sort of like those pesky wet spells around New Orleans and Thailand.
Piracy is running rampant, CD sales are slipping. Record companies are panicking. Just the things you need for a fun picnic.
But there's some good news glimmering on the horizon. Digital sales are on the rise. Demand for music is at an all-time high (even if the pirates are supplying a lot of it). And we're seeing some new ways to make money, such as streaming videos on the Internet, ring tones, digital merchandising, podcasts, and the like.
There's also been a massive change in the way that record companies compute royalties. They've actually gotten . . . simpler. I never thought I'd use that s-word in connection with royalties, but Hallelujah.
This sixth edition is by far the most extensive revision I've ever done, as we're stumbling around in the new technologies, trying to figure out what everyone should get paid. So you'll get the latest scoop on all the newfangled gizmos. And at no extra charge (if you act RIGHT NOW), there's an update of what's happening with record deals, songwriting, merchandising, touring, and so forth.
So come on in and take a peek. The water's a little cold at first, but you'll get used to it.
P.S. Congrats if you read this. It means you're a real Go-Getter, since most folks skip the introduction.
Copyright © 1991, 1994, 1997, 2000, 2003, 2006 by Donald S. Passman
Contents
1. First Steps
PART I
Your Team of Advisors
2. How to Pick a Team
Getting Your Team Together
Business Philosophy
Hiring a Team
Changing a Team Member
Cocktail Party Talk
3. Personal Managers
Role
Commission Overview
Negotiating the Manager's Deal
Picking the Right Manager
4. Business Managers
Role
How to Pick a Business Manager
Business Manager Checklist
Fees
Your Half of the Job
5. Attorneys
Picking a Lawyer
Fees
Conflicts of Interest
Attorney Checklist
6. Agents
Role
Fees
Deal Points
Picking an Agent
PART II
Record Deals
7. Broad-Strokes Overview of the Record Business
Industry Structure
What's a Record?
Masters
Royalty Computation
Ye Olde Royalty Calculations
8. Advances and Recoupment
Advances: The Basic Concept
Cross-collateralization
9. Real-Life Numbers
Overview
Royalties
Advances
Career Co-ventures
Look How Much You Already Know
10. Other Major Deal Points
Amount of Product
How Long?
Mega Deals
Delivery Requirements
Controlled Compositions
Greatest Hits
Live Albums
Guaranteed Release
Independents Day
11. Producer and Mixer Deals
What's a Producer?
Royalties
Advances
Who Hires the Producer?
A Major Point -- Pay Attention
Mixers
12. Advanced Record Deal Points
Advanced Demo Deal Negotiation
Exclusivity
Videos
Independent Promotion
Merchandising Rights
Tour Support
Territory
Union Per-Record Charges
Album Cover Artwork
Creative, Marketing, and Other Controls
Reserve Limitations
SoundScan
Special Packaging Costs
Accountings
13. Advanced Royalty Computations
Distribution Methods
Royalties for United States Sales
Foreign Royalties
R.O.W.
New Technologies, Electronic Transmissions, and Things That Go Bump in the Night
Master Licenses
Coupling and Compilations
Joint Recordings
"Greatest Hits" Albums
Multiple Albums
Box Sets
Television Advertising
DVDs and Other Home Video Devices
Mid-Price Records
Budget Records
New and Developing Artist Prices
Record Clubs
Cutouts, Deletes, Scraps, and Other Food for Bottom Feeders
Premiums
Video Games
DART, Digital Performance, and Webcasting Monies
Foreign Public Performance of Masters
14. Loan-out, Independent Production, Label, and Distribution Deals
Loan-out Deals
Independent Production Agreements
Joint Ventures
Pressing and Distribution (P&D) Deals
Upstream Deals
PART III
Songwriting and Music Publishing
15. Copyright Basics
Basic Copyright Concepts
What Are All These Rights You Get?
Exceptions to the Copyright Monopoly
Compulsory Mechanical Licenses
16. Publishing Companies and Major
Income Sources
Publishing Overview
Sources of Income
Mechanical Royalties
Controlled Composition Clauses
Maximum Rate Per Song
Maximum Rate Per Album
Public-Performance Royalties
17. Secondary Publishing Income
Printed Music
Synchronization and Transcription Licenses
Electronic Transmissions, Including Digital Downloads, Ring Tones, Webcasting, Subscription Services, and Podcasting
Foreign Subpublishing
DART Monies (Audio Home Recording Act of )
Bonus Section!
How to Set Up a Publishing Company
18. Songwriter Deals
Songwriter Royalties
Standard Contracts
Performance Monies
Printed Music Royalties
DART and Webcasting Monies
Advances
Term Songwriter Agreements
Pop Quiz
Collaboration (Two or More Songwriters)
Creative Control
Reversion of Copyright
19. Copublishing and Administration Deals
Copublishing Deals
Administration Agreements
Now Look Where You Are!
20. Advanced Copyright Concepts
Who Owns the Copyright?
Works for Hire
Duration of Copyright
Right of Termination
Digital Performance of Masters, Digital Delivery of Masters, and Webcasting
"First Sale" Doctrine
21. Even More Advanced Copyright Concepts
I Got You Twenty, Babe
Termination Right Mechanics
Extension Rights
Digital Samples
Sound Recording Copyrights
The Copyright Notice
Registration and Deposit
WhatYou Get When Someone Rips Off Your Copyright
PART IV
Group Issues
22. Groups
Group Provisions in Record Deals
Trivia Quiz
Internal Group Deals
What's in a Name?
PART V
Touring
23. Personal Appearances -- Touring
Roles of Team Members
Marketing
Personal Appearance Deals
New Artists
Midlevel Artists
Superstar Touring
Hall Fees
Riders
I'll Take the Whole Thing . . .
Lining Your Pockets with More Gold
PART VI
Merchandising
24. Tour Merchandising
Merchandisers
Royalties
Hall Fees
Advances
Term
Advance Repayment
Performance Minimum
Exclusivity
Creative Control
Sell-off Rights
Bootleggers
25. Retail Merchandising
Royalties
Other Deal Points
Caution
PART VII
Classical Music
26. Classical Music
Term and Product
Royalties
Advances
Mechanical Royalties
Marketing Tie-ins
PART VIII
Motion Picture Music
27. Overview of Motion Picture Music
Introduction
One Song -- Eight Deals
The Rights Involved
28. Performer Deals
Overview
Performance in the Film (No Record Rights)
Record Rights to Film Performances
29. Film Songwriter Deals
Terminology
Deal Points
30. Composer Agreements
Deal Points
Package Deals
Creative Financing
Television Composers
Video Game Composers
31. Licensing Existing Recordings and Existing Songs for Motion
Pictures
Master Licenses
Licensing Existing Musical Compositions for Films
Film Music Quiz
32. Music Supervisors
Role
Fees and Royalties
Television Supervisors
33. Soundtrack Album Deals
Score Albums
Song Albums
Cost Covering
Other Issues
Conclusion
Index
About the Author
Donald Passman is a Phi Beta Kappa graduate of the University of Texas and a Cum Laude graduate of Harvard Law School. He is a prominent entertainment lawyer with the firm Gang, Tyre, Ramer & Brown, and his clients include such major entertainers as Tina Turner, Janet Jackson, Quincy Jones, Don Henley, Tom Waits, and Randy Newman. In addition, he represents many music publishers, producers, record companies, songwriters, industry executives, and film companies. He is frequently listed as one of the fifty most influential people in the entertainment industry, and is commonly credited with having won Janet Jackson her $40 million megadeal with Virgin Records. He has taught and lectured extensively, and has been teaching a course on the music industry at the University of Southern California Law School's Advanced Professional Program since 1978. He lives in Los Angeles, California, with his wife and family.
Publisher: Simon & Schuster
Distributor: Simon & Schuster
Publication Date: 11-14-2006
Pages: 464
Measurements: 9.25in X 6.125in X 23.415oz
