BOLD Records
Django Szilagi
Brighid Kelley
Michael Rieber
Benson Barbour
Michael Dymytryshn
1
Table of Contents•Management: 3-11
Django Szilagi
•Marketing: 12-16
Brighid Kelley
•Creative Services (A & R): 17-23
Michael Rieber
•Finance: 24-36
Benson Barbour
•Legal Affairs: 37-43
Michael Dymytryshn
2
Management
Django Szilagi
3
Table Of Contents• Business Statement: 5
• Productions Team: 5
• Mission, Vision, Values: 5
• Objectives, Goals, & Actions: 6-7
• Communication: 7
• Consumer Market: 7
• Market Analysis: 7
• SWOT Analysis: 7-9
• Team Responsibilities: 9-10
• Manager Feedback: 10
• Works Cited: 11
4
Business StatementBOLD Records is a music management company based in New Orleans,
Louisiana, and aims to find and established local artists, bringing their fan-base to a
larger number, while promoting our artist’s music and spreading it around the country.
Our artists are our top priority, and we will strive to our best ability to help the artist in
every aspect of the music business, from production and tour management, to being
available around the clock in case our artist would like to discuss personal drama.
Specifically, we excel at general management, tour management, merchandising, legal
affairs, financial efforts, and creative services. Our employees are interconnected 24/7 in
an effort to keep communication at a constant high. Professionalism and care for our
artists is our top priority.
BOLD Records Production TeamManagement: Django Szilagi
Marketing/Distribution: Brighid Kelley
Creative Services (A & R): Michael Rieber
Finance: Ben Barbour
Legal Affairs: Mike Dymytryshn
Mission, Vision, ValuesOur mission is to create an optimal environment for growing artists within the
New Orleans area, allowing for the production, distribution, and embodiment of our
artists’ true visions. We will do everything in our power, utilizing every capability in our
arsenal to ensure that our artists have what the resources and the knowledge they need in
order to succeed in the music business. By the end of the 2014 calendar year, BOLD
Records will have helped our current artist create a social media presence (website,
Facebook, Instagram, Twitter, Bandcamp), we will have produced a mastered E.P., a
music video, and a live performance at a local venue. BOLD Records takes every step of
every process seriously and tactfully, as there are no short-cuts when perfection is the
overall goal- and we strive to be as close to perfect in every point of contact with our
artists.
5
Objectives, Goals, & Actions-
Objective 1: Create a social media presence.
Actions: Create a wordpress-based website for our artist. Create and manage several
popular social media accounts for our artist (Facebook, Twitter, Intsagram, Bandcamp).
Teach our artist how to run these effectively. Use these to promote and distribute our
artist’s E.P. and music video.
Goal: Create a fan base for our artist in order to gain attention for her live show.
Objective 2: Help our artist jumpstart her career.
Actions: Utilize social media to gain our artist a following, increasing her fan base,
giving her an advantage in an age where social media is the main tool of how artists
connect with their fans.
Goals: To give our artist the necessary tools to continue an effective social media
presence after the 2014 calendar year.
Objective 3: Give our artist experience.
Actions: We would like to help our artist be comfortable with performing live shows as a
solo set. We will help her book a live show, help her publicize the show, and help her
market her music so that she can create a local fan base to jumpstart her musical career
while giving her experience in the New Orleans music industry.
Goal: Give our insight into the music industry, while showing her how to self-promote,
book shows, and create a social media presence.
Objective 4: Help represent our artist to our maximum ability.
Actions: Focusing on our artist’s satisfaction, we will keep their vision key in everything
we do. BOLD Records will aim to fulfill all personal goals of our artist while steering
them in a positive direction within the music industry of New Orleans.
Goals: Carry out satisfying representation of our artist, while creating the largest fan base
possible by holding a large social media presence and by keeping a positive public image
6
at our utmost capability.
Communication:
BOLD Records communicates widely through our cell phones, as each member
typically has their phone on their person most hours of each day. Cell phones make it
easy for each member of the company to be able to receive and send data instantly during
all times of day from any location. Our cell phones were a key tool in the use of
organizing, planning, and executing our deliverables for our artist.
Consumer Market:
The consumer market for Theresa Romero’s music is typically going to be young
college students in the Uptown area, as they are the crowd who will most likely be
willing to go and see her perform live. Though, we will not limit Theresa’s fan-base to
college students because the genre in which she exists happens to be populated by all
ages and all walks of life. There is no closed demographic in which folk music and
singer/songwriter lives in- this music crosses age lines, as well as crosses socio-economic
plains.
Market Analysis:
Because the average college student is more likely than a person 40+ is to go out
and see live music at a venue/bar, the target market for Theresa is her peers- college
students. The Uptown area is heavily populated by bars and coffee shops, which serve as
venues, and since they are close to two large college campuses, the local spots will be the
targeted venues, which will attract students based on proximity and ease of access.
SWOT Analysis:
Strengths:
-Our company members get along
-Our company members are motivated for a high quality final product
-Theresa Romero has natural talent and needs little practice
-Theresa Romero had her songs pre-written prior to beginning the project
7
-Theresa Romero has recording studio experience and knew how to act
professionally when recording
-Our company members acted responsibly and respectfully to all others engaged
in the project
-We had many pre-existing connections in aspects of filming and audio recording,
which made it easy to schedule recording and editing times
-Folk music is popular in the city of New Orleans
Weaknesses:
-Four of the five members of BOLD Records are freshmen
-All members of the company are relatively new to the music industry
-Theresa Romero is a solo artist, which may make it harder to generate a buzz
-Our company members lack a general experience in promoting and producing an
artist from scratch
-Our company members have other things to fill up their schedules- we cannot
devote our full time on the project
Opportunities:
-Connections in the recording studio with Randy Rivera (who recorded and
mastered our tracks for free in a timely manner)
-Connections in videography with Lydia Kolda and Nola Szilagi (who filmed and
edited our music video)
-New Orleans has a large folk music culture
-Theresa Romero already has many fans due to the popularity of a prior band she
was in
Threats:
-It can be difficult to organize a group of strangers
-Teams are not always values aligned
-Over several months, team members can lose interest and become distracted in
terms of envisioning the final product
8
-Things do not always goes as they are planned
-Plan B does not always go as planned
Team Responsibilities:
Management: Django Szilagi
-Plans meetings and takes notes at meetings
•Catches up members on meeting’s notes if they have missed the meeting
-Organizes the team and sets goals for members
-Checks in on members and makes sure that everyone stays on task
-Communicates the goals of the company effectively
-Keeps a watch over all aspects of the project
-Signs off on all actions
-Plans and gives presentation
-Drafts management plan
-Organizes and pieces together parts of the final write-up
Marketing: Brighid Kelley
-Determines the target market
-In charge of marketing, public relations, branding, and distribution
-Creates and maintains the artist’s website
-Social media organizer and publisher
-Drafts the sales and distributions plan
Creative Services (A & R): Michael Rieber:
-Helps to find the artist
-Helps the artist choose which songs to record and in which order
-Makes sure that the artist is polished and ready when time to record in studio
-Makes sure that the artist is satisfied with al deliverables
-Drafts creative services plan
Finance: Benson Barbour
9
-Keeps track of budgets and finances
-Keeps track of expenses
-Brings in ideas of how to stick to the set budget
-Drafts finance/business affairs plan
Legal Affairs: Michael Dymytryshn
-Signs contracts with artist/hired help
-Works with the licensing of all songs and deliverables
-Creates all publishing and songwriting deals
-Organizes the legal relationship between company and non-company employees
-Drafts legal plan
Manager Feedback:
The project initially was well organized and accomplished tasks quickly, which
set us up for a successful outcome. From the beginning of the project, I took control of
the projects’ direction, as I was the only non-freshmen in the group and have seen many
of my close friends work through this project in prior semesters. I volunteered to be the
manager due to the knowledge of what is required in order to find success when
producing an artists in Uptown, New Orleans, as I have been in many gigging bands in
the area. Within the first two weeks, we determined who our artist would be, who would
be recording us, and when we would be recording. This prior planning allowed our group
to work aggressively and effectively to produce our first deliverable (the E.P) well ahead
of our predicted deadline, which allowed us focus on the other upcoming projects, such
as the live show, music video, and the task of creating an online and social media
presence. Our company communicated very well throughout the entire semester. If there
was any question about an assignment or project, all members would respond within a
few minutes at any given time of day or night. When one team member faced difficulty,
other members would step up to help complete the objective. BOLD Records is truly a
team, and the quality of our finished products exhibit this.
10
Works Cited:
1.
Unknown. "A National Culture?" xroads.Virginia.edu. Virginia.edu, n.d. Web. 20 Nov. 2014.
<http://xroads.virginia.edu/~1930s/radio/c_w/essay3.html>.
2.
Stansbury, Sarah. "Marketing Music Artists Requires Engagement." blogs.tennessean.com. Tennessean, 7
Oct. 2012. Web. 13 Nov. 2014. <http://blogs.tennessean.com/tunein/2012/10/07/ marketing-music-artistsrequires-engagement/>.
3.
Passman, Donald S. “All You Need to Know About the Music Business”. New York. Free
2006 Print.
11
Marketing Plan
Brighid Kelley
12
Table of Contents
●
Executive Marketing Overview: 14
●
Artist Description: 14
●
Consumer Analysis: 15
●
Objective Goals: 15
●
Execution Plan: 15
●
Marketing Financial Overview: 16
13
Executive Marketing Overview
This report will account for the strategies our label, Bold Records, will use to
effectively Market Theresa Romero’s Music. It will include the description of Theresa’s
music and style and the target audience to whom we will promote. Our target audience
will be devised of It will also include the goals for our artist, and the execution plan to
meet them. The Marketing Strategy we used to promote Theresa Romero’s music began
with a three-month plan. Before we could promote her music, we first has to establish a
target audience to which we could advertise. The next step was acquiring a general
following of consumers. We started by promoting her music on a local level, while
simultaneously advertising her music via social media platforms. Establishing Theresa’s
online presence would allow us to market her music on a global level in addition to local
promotion. The elements we have utilized in the marketing plan provided clear, tangible
objectives, organized in a way that would allow us to reach Theresa’s goals.
Artist Description
Theresa Romero is a 21 year old singer songwriter, originally from Lake Charles,
LA. Currently a junior at Loyola University of New Orleans, she is a multi-talented
Musical Performance major with a concentration on viola; an instrument she has been
playing since she was six years old. Theresa harnesses an old soul sound in her folk style
music, emphasized by her unique voice. Prior to going solo, she was part of a band
“Thomas and Theresa”, where she sang and played the mandolin and guitar. She is
inspired by artists that include Nora Jones, Allison Krauss, and Melissa Ethridge. Theresa
has produced her first EP with our label, Bold Records, LLC.
14
Consumer Analysis
The targeted audience for Theresa Romero’s music is demographically very wide.
We have found that her genre of music would be best received by young adults ages 1620, and adults ages 20-35+. In the early stages of marketing, local college-aged students
will be a primary audience to focus on. When we see how receptive the starting targeted
audience is of her music, we can narrow our marketing to focus on the consumers who
associated with Theresa’s music. Creating a smaller target audience provides the
opportunity to speak to those who are interested in her music, and create a more intimate,
and thus more successful marketing campaign.
Objective Goals
Theresa’s goals include completing her first EP, and promoting it locally and
globally. This includes the creation of an online presence as well as utilizing various
other social media platforms. She aims to establish an initial fanbase, and with marketing
efforts, expand that fanbase to allow it to continuously grow. Theresa additionally plans
to complete and publicize her first music video.
Execution Plan
The plan we have to promote Theresa’s music means utilizing the resources that
are readily available to us as a label. The creation of Theresa’s website gave her the very
important online presence, and served as a tool where we can post and distribute her
music in a way that is fast, and easily accessible. We have successfully completed her
first EP, and have it circulating online via her wordpress website, that emphasizes her
originality as an artist. We will be able to distribute her music on a much larger scale
because of this, in addition to the local fanbase we are establishing in New Orleans. The
access that our label has to social media sites like Facebook and Soundcloud were also
promotional tools that was successful distributing her music to people in our targeted
demographics. We plan to initiate a local following by booking Theresa to play her songs
in an environment containing people who would fall into the category our targeted
audience. This is a way for her music to be heard and inevitably gain recognition as an
artist.
15
Marketing Financial Overview
Theresa is in excellent financial standing, and has been through the entire process
of her career thus far. She has recorded her music in the university’s recording studio at
no cost, and with assistance, has mastered and completed her EP. The online aspect of
marketing including her website and social media, was all free to create and use, which
provided a lot of publicity for Theresa’s music. She was able to distribute her music to an
audience with assistance from students at Loyola and Tulane. These campuses contain
thousands of students in a confined location, which would allow her music to be
promoted quickly to a huge group of people, developing a local fanbase at no cost.
16
Creative A&R
Michael Reiber
17
Table Of Contents
•Artist Overview: 19
•Songs Recording: 19-21
•Music Video: 21
•Live Show: 22
•Works Cited: 23
18
Artist Overview
Artist:
Theresa Romero
Stage Name:
Theresa Romero
Description:
A native Louisiana artist, who has been perfecting her craft for some time now,
Theresa Romero was the first artist signed by Bold Records LLC. She stays true to the
style that she has loved her whole life, while creating her own sound in her original
compositions. She describes herself as a folk, country artist with a very unique voice,
and her new material reflects this.
Song Recording
Overview:
Once an agreement was made between Bold Records LLC and Theresa Romero
she was instructed to begin writing music and lyrics for 4 new original songs: “Digging
Holes”, “More to You”, “Before the Black”, and “Whichever Way You Stand”. Theresa
came to the members of Bold Records saying that she already had 4 songs that she had
been working on for some time and that had never before been recorded in any way. We
all decided to get recording as soon as possible with these 4 songs in mind.
Bold Records and Theresa Romero wanted to get in the recording studio as soon
as possible. Bold Records contacted Randy Rivera and recruited him as a work-for-hire
to record, mix, and master all 4 of Theresa’s new original songs. Within of a few days of
finding Randy Rivera we got Theresa in the studio and knocked out all 4 songs in a one
night, which took approximately 6 hours. After hearing the final product from that
19
session it was mutually decided upon that a second recording session was necessary. The
goal of the second session was to lay down a few guitar samples to add to one of the
songs recorded from the previous session.
Randy Rivera took all of the recorded material, mixed and mastered it to the
liking of every party involved. Once the songs met the standards of Theresa and the
members of Bold Records, we began to brainstorm distribution strategies.
Budget:
I personally set aside $100 as a budget for the project regarding Theresa Romero
exclusively. Despite having these funds set aside for whatever Bold Records seem fit we
reached out to Randy Rivera who is a teaching assistant and has the privilege of using the
recording facilities on Loyola’s campus for free. We hired Randy Rivera as a work-forhire and paid him $0 an hour. This amount was agreed upon and written up in the
contracts.
Costs:
Bold Records did not spend any money on the recording process.
Distribution:
Theresa Romero’s new EP consisting of 4 original songs has been released on her
personal Wordpress website that was created and provided by Bold Records. Creating
this website was part of Wordpress’s free service, so there was no cost to create it. Her
music was also released on her Facebook and twitter accounts along with her personal
Instagram.
Branding:
As mentioned above, Theresa Romero has a brand new web presence provided by
Bold Records. She has a free Wordpress site dedicated specifically to Theresa and
sharing her music with the world. Marketing lead Brighid Kelly and creative lead
Michael Reiber and manager Django Szilagi collaborated to create the Wordpress
website. The colors that were chosen are supposed to represent Theresa’s music, and
20
create an uplifting feeling to some degree. There is an easy to use drop-down menu with
several pages to select and a “Contact Us” section where one can give us their email for
our newsletter. There is a page dedicated to just listening to her songs, and a page for
browsing pictures of Theresa. There is also an “Events” page where you can keep up
with where Theresa will be performing next.
Additionally, Bold Records had made the decision to pay for various merchandise
to promote Theresa’s music even further. T-shirts, and possibly stickers will be available
for purchase at Theresa’s live show.
Music Video
Overview and Process:
The idea for a music video arose very early in the process. The idea was to
capture the emotion that the song “Digging Holes” attempts to portray. The video also
tries to show Theresa’s love for the city of New Orleans.
Our Manager’s girlfriend, Lydia assisted in the production of the music video.
She filmed various shots and snippets of Theresa in the recording studio. Bold Records
also had the help of Django’s (Bold Record’s manager) sister with the video. Theresa
and the members of Bold Records thought it would be cool if we got some shots and
snippets of the city to add to the video. We also got a few random scenes from Loyola’s
campus. All of the filmed footage that was collected went to Lydia who edited it all
together and put Theresa’s song over the footage for the final music video product. The
music video is now available to watch for free on Theresa’s Wordpress website on the
homepage and the “Music” page.
The video was filmed with Sony cameras, and iPhone cameras for the still shots.
Transportation around the city of New Orleans was provided Bold Record’s manager
Django. The footage was edited together with a Macbook Pro.
Bold Records was able to film, edit, create, and share the music video for Theresa
for free; no costs were required to create the video.
21
Live Show
Overview:
At first, our priority was creating and sharing music video, however when the
opportunity to put on a live show arose, Bold Records jumped on it. There is an event
that we heard about a few weeks ago taking place downtown in January, and the
organizers of the event said that it would be no trouble for Theresa to jump into the lineup. Theresa will be the opening act of the night and will start at around 9:30 P.M.
Venue:
The show will be held on January 16th. The show will take place at the Bank
Street Bar. Bold Records also considered doing a show at Satchamo’s Lounge,
downstairs in the Dana Student Center on Loyola’s campus. Bold Records also
considered doing a free show in Audubon Park, however we concluded that it would be
very difficult to get all of the necessary equipment over to the park. We also did not want
to do a free show if we could help it.
Cost:
As stated above, on January 16th at the Bank Street Bar Theresa will be the
opening act. There will be a $5 cover upon entry and Theresa will get a cut of that profit.
22
Works Cited
Cobo, Leila. "Latin Music's Growing Pains: With Limited Video, Touring, and Pop A&R
Strengths, the Music Seeks New Strategies." 114.15 (2002): 1, 85, 87.
International Index of Music Periodicals. Web. 20 Nov. 2014.
<http://search.proquest.com/iimp>.
Papadopoulos, Theo. "Financial Risk and Return in the Music Recording Industry."
MEIEA Journal. Music & Entertainment Industry Educators Association, 1 Jan.
2005. Web. 20 Nov. 2014.
<http://www.meiea.org/Journal/html_ver/Vol05_No01/2005_Vol_5_No_1_A2.ht
ml>.
Passman, Donald S. “All You Need to Know About the Music Business”. New York. Free
2006 Print.
23
Finance Plan
Ben Barbour
24
Table of Contents• Financial Overview: 26
• EP: 26
• Music Video: 26
• Live Performance: 27-28
• Promotion: 27-28
• Balance Sheet: 29-30
• Income Statement: 31-33
• Statement of Cash Flows: 33-34
• Works Cited: 35
• Sources: 36
25
Financial Overview:
This document will summarize the following financial decisions and actions my
group took to create an EP, music video, and live performance for our artist Theresa
Romero. It will also include information regarding how we plan to promote our artist’s
upcoming show, and package her EP
E.P. (Extended Play):
Recording:
After finding our artist Theresa Romero, a folk singer and songwriter, we decided
to record and master four of her songs: “Whichever Way You Stand,” “Digging Holes,”
“More to You,” and “Before the Black.” We recorded our EP in the Loyola University
Studio with the help of Loyola sound engineer Randy Rivera. Randy Rivera agreed to
record, engineer, mix, and master all 4 songs for no charge. Theresa Romero wrote all her
own songs. She sang and played acoustic guitar on all four tracks. The only song where
we had an additional musician was “Before the Black.” Chance, a session guitarist,
played additional electric guitar parts for the song. Chance agreed to play on the track as
a work for hire for no fee. Therefore, our recording costs were $0.
Packaging:
We plan on making 20 CD copies of our EP. We are getting them copied for free,
and are packaging them simply with no album cover, just blank CD cases. We are not
planning on selling the EP for money, so we are not spending or making money off of the
EP.
26
Music Video:
We recorded a music video for one of Theresa Romero’s song, “Digging Holes.”
Lydia Kolda, a Loyola student, choreographed, recorded, and directed the music video
for a no fee. She also edited and finalized the video for no charge. Django’s sister, Nola
Szilagi, agreed to act in the video for no fee. Therefore, the music video budget is $0.
If we were to shoot a more professional grade video we would have had to
account for location costs hourly rates, high end visual effects, gear rentals, crew
expenses (director, producer, sound engineer, art director ect.), and editing costs (Sirotin,
“Why Music Videos…”).
Live Performance:
Theresa Romero has an upcoming gig at the Bank Street Bar and Grill on January
16th. The venue is in mid-city, and we think the crowd the bar and grill attracts will
connect with the folk music that Theresa performs. The tickets will be $5 at the door, and
she will be splitting the ticket sale profits 50/50 with one other artist. She will not be
making any money off of merchandise. However, we may plan to have her EP available
at the venue to interested audience members. We should not have any live performance
costs because Theresa is an acoustic solo artist without additional musicians and does not
require extensive equipment management or set-up. For this reason we are not spending
money on Theresa’s show, only making money. However, I am not going to include the
potential revenue from Theresa’s gig in my financial statements because the gig is after
our final due date for the project.
In the future our group may try to book shows for Theresa where we can charge
larger entrance fees to create more revenue for her shows. We may also decide to create
more copies of her EP and attempt to sell them for modest prices to interested fans. Folk
music is easy to book gigs for, and fans of folk music are often interested in buying
merchandise and CD’s at the artist’s gigs because of the underground nature of
contemporary folk music. Our group should keep this in mind if we attempt to create
27
generate revenue in the future for our artist. Folk music revenue is not usually generated
from online or in store CD sales, it usually comes from the many gigs that folk musicians
must play consistently (Davis, “How the UK Folk Music…). We will have to compensate
with a greater live presence because folk music is not usually played on popular radio
stations or featured in mainstream movies anymore like it was in the past (Alarik 76).
Promotion:
We created a website for Theresa using wordpress.com. The website is called
theresamusic.wordpress.com. The website includes a short biography of Theresa Romero
to allow people get to know her better, so that we can build closer relationships with her
fans. Our group also plans on posting a link to Theresa’s Instagram page on her website
to let fans know more about her other interests. The website will also include a link to
Theresa’s EP at theresaromera.bandcamp.com, where people can easily access high
quality versions of her songs. We plan on using the website to keep fans informed about
her activities, most importantly her upcoming shows. We plan to put the date of
Theresa’s Bank Street Bar show on her website, and then create email lists using
Django’s contacts at Loyola to send links of the website and her show date to. We may
also put the link to the website on our Facebook pages to help create social media
attention for her website. Our website is a work in progress, but it could potentially be a
good tool to promote her music.
The members of our group also plan on using word of mouth to spread awareness
about Theresa’s upcoming gig. We intend to network through our friends and other
students of the Loyola Music Industry Studies College in order to garner attention for her
show. These promotional efforts do not require any monetary expenses and amount to a
total of $0.
28
Balance Sheet
Assets:
I.
Current Assets:
A. Cash
$0
B. Accounts Receivable:
1) EP Sales
$0
2) Ticket Sales
$0
3) Digital Downloads
$0
4) Streaming Services
$0
$0
C. Inventory
1.
Merchandise
$0
2.
Album Copies
$0
Total Current Assets
II.
$0
Fixed Assets:
A. Website
$0
B. Music Video
$0
Total Fixed Assets
III.
$0
Intangible Assets:
A. Song/E.P. Copyrights
$0
B. Goodwill Towards Artist
$0
C. Artist Name Trademark
$0
D. Music Video Copyright
$0
Total Assets
$0
Liabilities:
I.
Current Liabilities:
29
A. Accounts Payable
1. Radio Play
$0
2. Promotion
$0
3. Publicist
$0
4. Music Video Production
a) Actress
$0
b) Equipment Rental
$0
c) Director
$0
$0
5. Song Recording/Engineering
$0
6. Song Mixing/Mastering
$0
7. Overdubs
$0
8. Bank Street Bar Venue
$0
B. Accrued Salaries
1. Lydia Kolda (Music Video Director)
$0
2. Randy Rivera (Sound Engineer)
$0
3. Chance (Work for Hire)
$0
Total Current Liabilities
II.
$0
Long-Term Liabilities:
A. Notes Payable
$0
B. Bonds Payable:
$0
Total Liabilities
$0
Total Owners’ Equity
$0
Owners’ Equity:
30
Income Statement
Revenues:
I.
Sales:
A. EP
$0
B. Ticket
$0
C. Merchandise
$0
D. Digital Downloads
$0
E. TV/Movie Use
$0
Net Sales
$0
Cost of Goods Sold:
I.
Inventory:
$0
II.
Net Purchases:
$0
Cost of Goods Sold
$0
Gross Profit:
$0
Operating Expenses:
I.
EP:
A. Artist Advance
$0
B. Studio Fees
1. Equipment
$0
2. Recording:
$0
3. Overdubs:
$0
4. Mixing
$0
5. Mastering
$0
$0
C. Salaries
1. Randy Rivera (Sound Engineer)
$0
2.Chance (Session Musician)
$0
31
$0
D. Packaging
$0
Total EP Expenses
II.
$0
Music Video:
A. Equipment Rental
$0
B. Set
1. Venue
$0
2. Props
$0
$0
C. Salaries
1. Theresa (Actress)
$0
2. Lydia Kolda (Video Director)
$0
$0
D. Editing
$0
Total Music Video Expenses
III.
$0
Marketing:
A. Website
$0
B. Advertisement
1. Radio
$0
2. Flyers
$0
$0
C. Publicist
$0
D. Promoter
$0
Total Advertisement Cost
IV.
$0
Live Performance:
A. Artist Advance
$0
B. Venue
$0
C. Equipment Rental
$0
32
D. Additional Musicians
$0
E. Engineer
$0
F. Production
$0
G. Transportation
$0
H. Hotel/Lodging
$0
Total Live Performance Cost:
$0
Total Operating Expenses:
$0
Net Income Before Taxes:
$0
Income Tax Expense:
$0
Net Income After Taxes:
$0
Statement of Cash Flows
Cash Flows from Operating Expenses:
I.
Cash Received from Customers
A.
EP sales
$0
B.
Ticket Sales
$0
C.
Digital Downloads
$0
D.
Merchandise Sales
$0
E.
Streaming Royalties
$0
Total Cash Received:
II.
Cash Paid to Suppliers and Employees
$0
$0
A.
EP Recording and Packaging
$0
B.
Music Video Costs
$0
C.
Advertisement Costs
$0
D.
Live Performance Costs
$0
33
Total Cash Paid to Suppliers and Employees:
$0
III.
Interest Paid
$0
IV.
Income Tax Paid
$0
V.
Interest and Dividends Received
$0
Net Cash From Operating Activities:
$0
Cash Flow From Investing Activities:
$0
Cash Flows From Financing Activities:
$0
Cash Balance Beginning of Project:
$0
Cash Balance End of Project:
$0
34
Works Cited:
Alarik, Scott. “A "’Sing Out!’" Special Report: The Business of Folk Music in the New
Millennium." Sing Out! The Folk Song Magazine Autumn 2007: 72-8. ProQuest.
Web. 20 Nov. 2014 .
Davis, Hazel. “How the UK Folk Music Scene is Quietly Making Means End,”
Billboard.
Billboard.com, 6 Apr. 2012. Web. 20 Nov. 2014.
Sirotin, Jason. "Why Music Videos Don’t Cost $500.00." ECG Productions. ECG
Productions, 17 Apr. 2013. Web. 30 Nov. 2014.
35
Sources:
Alarik, Scott. “A "’Sing Out!’" Special Report: The Business of Folk Music in the New
Millennium." Sing Out! The Folk Song Magazine Autumn 2007: 72-8. ProQuest.
Web. 20 Nov. 2014 .
Davis, Hazel. “How the UK Folk Music Scene is Quietly Making Means End,”
Billboard.
Billboard.com, 6 Apr. 2012. Web. 20 Nov. 2014.
Pikas, Bohdan, Anastasia Pikas, and Candice Lymburner. "The Future of the Music
Industry." Journal of Marketing Development and Competitiveness 5.3 (2011):
139-49. ProQuest. Web. 30 Nov. 2014.
Sirotin, Jason. "Why Music Videos Don’t Cost $500.00." ECG Productions. ECG
Productions, 17 Apr. 2013. Web. 30 Nov. 2014.
36
Legal Plan
Michael Dmytryshyn
37
Table of Contents
• Deliverable #1: 39-40
• Deliverable #2: 40- 41
• Deliverable #3: 41
• Deliverable #4: 42
• Works Cited: 43
38
Deliverable #1
The EP
Necessary Legal Documents.
1.
Deal Memo
2.
Mechanical License
3.
Co-Publishing deal
4.
BMI registration
5.
Song writer agreement
6.
Work For hire agreement
7.
Copyright registration (for both the recording and the song)
8.
Sound Exchange registration
1.
Deal Memo - This establishes the relationship between two parties, in this
case it is our artist Theresa and B.O.L.D records. The agreement states that
Theresa will own 50% of her EP’s copyright, and grant the other 50% to B.O.L.D
records LLC, for the duration of the project. After December 8th 2014, Theresa
will retain 100% ownership of her EP.
2.
Mechanical License - This grants copying and distribution rights of
Theresa’s EP to B.O.L.D records. B.O.L.D records would have to register with
The Harry Fox agency first, and then set up an application for a Mechanical
License
3.
Co-Publishing deal - Essentially grants B.O.L.D records with 50% of
Theresa’s copyright. This will provide B.O.L.D records with administration rights
to her songs (compositions). Normally this contract would include an advance
paid to Theresa, but obviously this was not included in our mock trial.
4.
Bold records “is registered” as a publisher through BMI. Every artist
should be registered Through PRO’s as both a composer for the song. The PRO’s
pay the publisher and the artist directly.
5.
Songwriter agreement - This explains the details in how the artist will
39
transfer his or her copyright to the Publishing company, in our case B.O.L.D
records.
6.
Work for hire - There are two work for hire contracts necessary for
Theresa’s EP. One would be for the sound engineer Randy, the other for Chance,
a featured guitar player on one of the tracks. Both Randy and Chance “would be
paid” for their work, but own none of the copyright of the master
7.
Copyright registration - It is needed for both the song and the recording of
the song. Although a song is copyrighted once it becomes tangible, it still if a
good idea to get them officially copyrighted and protected. Copyright registration
forms can be found on the US Copyright office website.
8.
SoundExchange registration - This allows royalties from digital public
performances to be paid to the copyright owners of a song. Because in our
example, the copyright is split between B.O.L.D record’s LLC and Theresa, the
royalties from SoundExchange would be split accordingly.
Deliverable #2
The Video
Legal Documents needed
1.
Contract with the artist
2.
Work for hire
3.
Sync License for song
4.
Master use for the sound Recording
1.
Contract with the artist - Most professional music videos are filmed by an
outside company. This agreement states how much that outside company would
be paid for their service. It also explains how the record label now owns the
copyrights of the video. Because B.O.L.D records can not afford to hire an
outside company, we took a different approach using a work for hire contract.
2.
Work for hire - Our manager’s girlfriend (Lydia) is both a film producer,
40
and friend of Theresa. We signed a work for hire agreement with Lydia. Theresa
and B.O.L.D record’s LLC owns all of the copyrights for the video, and Lydia
was “paid” for her service.
3.
Sync license - This grants the production company (or in our case Lydia)
permission to use the recording over the video.
4.
The master use license is what allows B.O.L.D records to use a song
master over the video and distribute the music video.
Deliverable #3
The Live Performance
The only necessary contract needed for Theresa to perform at her show is a live
performance agreement.
Theresa has a gig at the Bank Street Bar on January 16th. Theresa is headlining with
another artist. The two artists who are in agreements with the venue in this contract that
the ticket money will be split between the two artist. They also have permission to sell
their CD’s and keep the profit at the venue. B.O.L.D records will not interfere with
Theresa’s profit.
41
Deliverable #4
The Website
1.
Domain registration form
2.
Work for hire agreement
3.
License for images used
1.
Our website is a word press. The domain registration procedure takes
place on the Wordpress website.
2.
Normally a professional website is done through a programmer who is
paid to create the website. Wordpress eliminates this extra expense for us.
3.
If we were to use any photos on our website that we do not own, we would
have to get a visual work license that would grant us permission to use the picture.
We own all of the photos on the website.
42
Work Cited
1.) Passman, Donald S. All You Need to Know about the Music Business. New York:
Free: 2006 Print.
2.)Legal documents provided through Blackboard.
3.) Turton, Julian. "Music Lawyers Must Share Insights and Pass Them on." (n.d.): n.
pag. Rpt. in Music Week. Vol. 3. NewYork: New BAy Media, 2002. EBSCO. Web. 11
Dec. 2014.
4.)"How to FInd the RIght Attourney." (2009): n. pag. Rpt. in Billboard. Vol. 121.
NewYork:
Billboard, 1993. Ser. 34. EBSCO. Web. 11 Dec. 2014.
43