Music Monetization & Song Realities
A multitude of contradictions and complications exist within the music industry. According to the Recording Industry Association of America, music revenues in 2016 were the highest they've been in over eight years with the largest year-over-year percentage increase in over 18 years. However, these numbers do not reflect the tumultuous waters in which those connected to the music industry find themselves today. While streaming services have increased accessibility, the issues of piracy and artist control are of grave concern. This course will examine how the record labels and publishers are responding to the changing economy of the music industry. Discussions will address the big players in the music industry (Sony Music, Universal Music, Warner Music Group, Sony/ATV, & UMPG) as well as indie record labels' business strategy, how legal aspects of the music industry effect artists, publishers, and consumers (digital rights management, etc.), as well as the ever-increasing reliance on streaming and the technical companies providing music services. Topics to be examined include copyright law, label and publishing agreements with artists, and backend monetization of assets.
Objectives: - Understand the important legal issues related to creating, recording, and performing commercial music - Articulate the various aspects of track royalties for labels and publishers including sync licensing and digital streaming - Recognize the various aspects of music publishing, record label, recording, and artist agreements - Describe how copyright law applies to the commercial music industry regarding various Union obligations - Identify the major technical advancements in the music industry and how it is affecting both artists and consumers