Record Contracts ReviewRecord Contracts Review

MUM 2700Professor Calle

MUM 2700Professor Calle

RulesRules Class will be split into 6 groups. You will have 15 seconds to confer with

your group and answer the question. Correct answers will be awarded a golf

ball. The group with the most golf balls at

the end wins the prize. You may not throw the golf balls.

Class will be split into 6 groups. You will have 15 seconds to confer with

your group and answer the question. Correct answers will be awarded a golf

ball. The group with the most golf balls at

the end wins the prize. You may not throw the golf balls.

11

Define cross-collateralization. Define cross-collateralization.

22

If you are profitable, your position is known as a _______ position?

If you are profitable, your position is known as a _______ position?

33

What does A & R stand for? What does A & R stand for?

44

What is the contractual definition of a “record” since the 1960’s?

What is the contractual definition of a “record” since the 1960’s?

55

A rough mix, a hard drive containing audio files & Pro Tools sessions, 2-inch reels or the final mix are all known as a

_ _ _ _ _ _.

A rough mix, a hard drive containing audio files & Pro Tools sessions, 2-inch reels or the final mix are all known as a

_ _ _ _ _ _.

66

This record company preset amount determines the base for the artists royalties.

This record company preset amount determines the base for the artists royalties.

77

What is the standard packaging deduction?

What is the standard packaging deduction?

88

A mini-major does everything a major does except what?

A mini-major does everything a major does except what?

99

Traditionally, records contain how many masters?

Traditionally, records contain how many masters?

1010

A record company not owned or controlled by a major is called an?

A record company not owned or controlled by a major is called an?

1111

1 point = 1 _? 1 point = 1 _?

1212

You are issued a sum of money and asked to record and deliver a finished product. The amount issued to you is called an ___________?

You are issued a sum of money and asked to record and deliver a finished product. The amount issued to you is called an ___________?

1313

The deduction for free goods is? The deduction for free goods is?

1414

Reserves are necessary to offset _______?

Reserves are necessary to offset _______?

1515

The current standard return privilege is?

The current standard return privilege is?

1616

The standard return privilege until the 1980’s was?

The standard return privilege until the 1980’s was?

1717

True or False The base price or royalty base for

CDs is computed this way: SRLP - packaging.

True or False The base price or royalty base for

CDs is computed this way: SRLP - packaging.

1818

Which record company, located in Beverly Hills at the old home of Charlie Chaplin, demanded the “90% of net sales rule” in order to account for breakage?

Which record company, located in Beverly Hills at the old home of Charlie Chaplin, demanded the “90% of net sales rule” in order to account for breakage?

1919

A new artist is described as someone having sold less than __________ records?

A new artist is described as someone having sold less than __________ records?

2020

500,000 U.S. copies sold. 500,000 U.S. copies sold.

2121

1,000,000 copies sold. 1,000,000 copies sold.

2222

Define the term recoupable. Define the term recoupable.

2323

What percentage of mechanical royalties is the controlled composition reduction?

What percentage of mechanical royalties is the controlled composition reduction?

2424

Define the all-in royalty rate. Define the all-in royalty rate.

2525

Compute the mechanical royalties owed to a publisher for a song of length 8:34.

Who determines if an option is exercised?

Compute the mechanical royalties owed to a publisher for a song of length 8:34.

Who determines if an option is exercised?

2626

Define the net royalty rate. Define the net royalty rate.

2727

Which of these should you negotiate in your contract:

A retroactive escalation A prospective escalation WHY?

Which of these should you negotiate in your contract:

A retroactive escalation A prospective escalation WHY?

2828

Min/Max formulas are called _____ & _________ in the Passman book.

Min/Max formulas are called _____ & _________ in the Passman book.

2929

When the company accepts your record because they feel it properly represents you and will therefore sell, the record is said to be _________ satisfactory.

When the company accepts your record because they feel it properly represents you and will therefore sell, the record is said to be _________ satisfactory.

3030

The number of records an artist will record during the term of the contract is determined by what factors?

The number of records an artist will record during the term of the contract is determined by what factors?

3131

Which of these should you negotiate into your demo deal, calendar days or work days?

Which of these should you negotiate into your demo deal, calendar days or work days?

3232

Discuss trends involving second albums?

Discuss trends involving second albums?

3333

These fees are paid as compensation for the use of the intellectual property.

These fees are paid as compensation for the use of the intellectual property.

3434

In a demo deal, the contract guarantees the record company what important right?

In a demo deal, the contract guarantees the record company what important right?

3535

When the company accepts your record because they determine it was professionally recorded and produced, the record is said to be _________ satisfactory.

When the company accepts your record because they determine it was professionally recorded and produced, the record is said to be _________ satisfactory.

3636

The current statutory mechanical rate is in effect until the year _____?

The current statutory mechanical rate is in effect until the year _____?

3737

30 work days = _____ weeks 30 work days = _____ weeks

3838

Your video cost the record company $150,000 to produce.

How much of that money is recoupable by you?

Your video cost the record company $150,000 to produce.

How much of that money is recoupable by you?

3939

What company and digital recording product first afforded musicians and producers the ability to produce professional recordings in their home studios?

What company and digital recording product first afforded musicians and producers the ability to produce professional recordings in their home studios?

4040

What does an independent promoter do?

What does an independent promoter do?

4141

The constructed retail price is computed this way:

____ % of the wholesale price.

The constructed retail price is computed this way:

____ % of the wholesale price.

4242

Which is usually higher, the constructed retail price or the SRLP?

Which is usually higher, the constructed retail price or the SRLP?

4343

The record company spends $100,000 on tour support. How much is recoupable by the artist.

The record company spends $100,000 on tour support. How much is recoupable by the artist.

4444

Define the concept of the “term of a contract”.

Define the concept of the “term of a contract”.

4545

How long does it take to produce a studio album?

How long does it take to produce a studio album?

4646

A mid-level artist has sold how many units?

A mid-level artist has sold how many units?

4747

What is the standard artist-points range for a new artist signing with an independent record label?

What is the standard artist-points range for a new artist signing with an independent record label?

4848

What is the standard artist-points range for a new artist signing with a major record label?

What is the standard artist-points range for a new artist signing with a major record label?

4949

What is the standard artist-points range for a mid-level artist signing with a major record label?

What is the standard artist-points range for a mid-level artist signing with a major record label?

5050

What is the standard artist-points range for a superstar signing with a record label?

What is the standard artist-points range for a superstar signing with a record label?

5151

What is the difference between an advance and a fund?

What is the difference between an advance and a fund?

5252

Your contract is for a term of 5 CDs. Two are firm and three are options.

How many CDs are you guaranteed to record?

Your contract is for a term of 5 CDs. Two are firm and three are options.

How many CDs are you guaranteed to record?

5353

True or False A company can get out of

recording a firm CD by exercising the pay or play clause.

True or False A company can get out of

recording a firm CD by exercising the pay or play clause.

5454

True or False You can shop a demo produced for

one record company via a demo deal to another record company.

True or False You can shop a demo produced for

one record company via a demo deal to another record company.

5555

True or False You may package and sell a demo

produced for a record company demo contract after the contract term has expired.

True or False You may package and sell a demo

produced for a record company demo contract after the contract term has expired.