Marlon D. Price
February 22, 2011
University Of Phoenix
Professional Knowledge and Abilities Paper
Television shows like Lifestyles of the rich and famous and MTV Cribs feature some of the world’s wealthiest and successful recording artists in the music industry. Artists have the biggest yachts, the most desired cars on the planet, and swimming pools that would make Michael Phelps grab his Speedos. Many find it very interesting how artists earn money outside of album sales. It would be hard for someone to keep track of how many times his song plays on the radio or airs on television when he is working 24 hours a day in a recording studio. Upon doing research on the Internet, all of the answers are found at BMI (Broadcast Music Incorporated).
BMI is a company that “collects license fees from businesses that use music, which it distributes as royalties to songwriters, composers & music publishers” (Broadcast Music Inc., 2011). As one of the most competitive career fields, artists are on the usually on the go so it is important have an entity in place to keep track of when and where his material reaches the public. Every time there is a song played on the radio or see that burger commercial with the tune playing in the background, BMI is responsible for tracking it if it belongs to a member. Artists receive payments for their work at the end of each quarter, BMI pays royalties for the use of the material played on the radio, Itunes downloads, album sales, television commercials, and even shows performed by cover bands. Royalties are paid to the individual who is the registered owner of the material; more than one artist can be paid for the same works.
Becoming a member of BMI has many benefits. Discounts are one of many benefits provided by BMI. Many companies that sell music equipment, training schools and financial services, provide discounts to BMI members. User forums are... [continues]
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