Key Stakeholders

Topics: Music industry, Record label, Royalties Pages: 8 (2625 words) Published: February 11, 2013
U1 Assignement

Where music industry begins, the expetation of those who are creating music also begins. Artist created music for pleasure, but is now a monetized industry, made up of risks and investment.

1.1 Key stakeholders and structure of music
The music industry is formed by many different stakeholders , all useful and necessary to run this. The music must surely be first of all created and then later become known.

To succeed in this there are some key roles in the music industry

Most important and essential roles are :

ARTIST AND COMPOSERS : can be classified by their roles in performing music and writing music, a person who makes music a profession.

RECORDING COMPANIES : record labels are companies that manufacture and distribute recorded music and promote that music. There are two kinds of record labels independent (indie labels) and major labels. EMI Music is one of the world’s leading music companies, home to some of the most succesful and best known recording artists. .

MANAGEMANT : music manager acts as a business advisor, organizer , a vital part or your music career and can make the difference between success and failure. He help you deal with your record label A&R and make sure that you and your label are working together to insure that your successful and your music is well produced and marketed to your particular audience

PROMOTION : The main function of the promotion department within a record label is ensuring radio play for a musician's songs. The promotion division is vital in making sure the recording artist is marketed to as many radio and TV stations as possible.

PUBLISHING : Songwriters contract with music publishing companies to exploit their songs, with both parties sharing the income generated from the songs. Before the introduction of musical recordings, songwriters and publishers earned their income primarily from the sale of sheet music. In the modern era, songs can be commercially exploited in many types of media, including recordings, radio, television, film, and video. Music publishers are powerful intermediaries between songwriters and recording companies. Typically, a music publisher demands copyright ownership from the songwriter, along with half of the royatlies. A publisher may make a large cash advance to a popular or promising songwriter, but often the advance is minimal. In return, the publisher seeks to place the songwriter's compositions with performers who will make a recording. In addition, a publisher will try to place songs in films, television shows, and advertisements. If the songwriter is also a performer, the publisher will assist the artist in obtaining a recording contract. The publisher also assumes the responsibility of collecting royalties and giving the songwriter.

1.2 As all industries also the one of music works under a chain, in this case called supply chain. This means that the aid of each piece of the chain is crucial and necessary to achieve a gain. Music industry is structured by companies with basic essential tasks. If you're an artist you'll need the help of these entities.

Artist managemant: the duties of the artist manager are many, the most important for sure are determining the artist’s business status and recommending with a business entity, balancing the artist’s budget, Formulating and marketing the artist’s image, negotiating and securing a recording contract, coordinating live performances and appearances.

Legal services: Law department is responsible for providing legal services and advice to the company, its divisions and employees, The department office faces a great number of different legal matters. These matters include: business development, contract management, real estate transactions, customer claims against the company for product damages and defects and much more.

Live agents : allows the artist to...
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