Music Industry Business Basics by: J. Akly Real Industry Talk www.realindsutrytalk.com
The Music Industry is a Business just like every other BusinessWhether you’re an artist, producer(composer), songwriter (author), or musician 10%keep in mind that YOU are the PRODUCT.Your music is your means to promote andmarket yourself.Music business is 10% talent, in which youmust be talented, and the other 90% isbusiness. 90%Know your business. Talent Business
Establish your business Incorporate your business. www.irs.gov www.sba.gov Apply for an EIN number. www.irs.gov Trademark your business name and logo, your stage name and/or logos. www.uspto.gov Open a business account with bank of your choice.
CopyrightCopyright your music www.copyright.govBefore distributing your music you shouldprotect your music through the copyrightprocess.Do not do a poor man’s copyright, it will nothold up in court.Copyright protects your right for the durationof your life span plus 70 years after death.Copyright needs to be renewed in order tocontinue your protection.
Copyright forms www.copyright.govPA - Use Form PA for registration of published or un-published works of the performing arts.SR - Use Form SR for registration of published or unpublishedsound recordings. It should be used when the copyright claimis limited to the sound recording itself.TX - Use Form TX for registration of published or unpublishednondramatic literary works, excluding periodicals or serialissues.VA - Use Form VA for copyright registration of published orunpublished works of the visual arts.RE - Use Form RE for renewal of copyright registrations ofpublished or unpublished works which have expired terms.
Co-writing and Collaborations When you co-write a song (lyric and musical composition) you should do a split sheet. Split sheet helps determine the percentage of the song each person involved is the owner of. This information is vital when collecting royalties.
Performance Rights Organizations (PRO’s) Once you copyright your music and have split sheets in place join a PRO. PRO’s license your music for public performance and you receive performance royalties. Radio, TV, Venues, Background and etc. There are three major PRO’s in the United States. American Society of Composers, Authors & Publishers (ASCAP) www.ascap.com Broadcast Music, Inc. (BMI) www.bmi.com SESAC www.sesac.com (by invitation only)
A musical work is divided... All musical works are divided between composers & songwriter and publishers (50/50 split) 50% 50% Composers and authors own 50% of musical work. Publishers own the other 50% of musical work. Publisher Songwriter & Composer
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