Money Within The Music Industry Since the beginning of time, our human nature drives us to find beauty. Finding this beauty can come about several different ways whether it come from the arts, physical, or spiritual beauty. Then man began to create music and in order to seek out this loveliness. Over the centuries the production of music has grown and advanced in various ways. By generating different several different products and jobs, our economy would dramatically change without the revenue of music. The music industry encompasses many ways to generate revenue through different types of employment, various ways of selling music, and investing in the future market. Prior to the days before complicated legal policies and the Internet, musicians generated revenue through two main ways. They had to sell records and perform shows to acquire an income through the industry. While artists still use those methods for monetary gain, new methods have emerged for maximizing income. Due to an increase in copyrights and the requirement of official authorization, musicians can receive money through royalties, which are usage-based payments. Most money an artist receives comes from mechanical royalties and performance royalties. An artist receives money when a label company produces copies of their work through mechanical royalties. When a radio station, television show, or any other company plays a musicians song they must pay the artist for performance royalties. Artists can also get payment through various other royalties. Synchronization license royalties occur when payment goes to the songwriter for synchronization and distribution of a song with a moving image such as a song in a movie, television shows, commercial or video game. “Analog” public performance royalties require that for any live performance a fee must be paid for each song. When manufactures produce items such as lyrics and sheet music, they must also pay the artist print royalties. Membership in a
