Students

Chapter 2 - Why Music Professionals Need to Think Like Entrepreneurs

In this chapter you will dig deeper into the meaning of “music entrepreneur.” You will learn the various forms that entrepreneurship can take, and the difference between for-profit and nonprofit organizations. You will see why it’s important for music professionals to think and act like entrepreneurs. Then you will gain the skills needed to learn how to think like an entrepreneur. The chapter concludes with a section of questions that will help you understand yourself from an entrepreneurial point of view. Two entrepreneurs are spotlighted: Andrew Cyr of the Metropolis Ensemble and Groupmuse founder Sam Bodkin.

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Chapter 3 - Developing the 21st Century Global Music Professional

In this chapter you will learn how global music professionals are nurtured and developed. Classical rock star Lang Lang serves an excellent example of a 21st century global music professional. You will be introduced to each major section of the music industry to see how it contributes. Four global artists are profiled so that you can see how many ways there are of developing global music professionals. Canada is spotlighted as a country that is exemplary in nurturing and supporting its artists.

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Chapter 4 - Getting to Know You: Branding and Marketing

Articulating your authentic brand and communicating it to the public are two of the most important aspects of entrepreneurship. Your (or your business’s) unique qualities and strengths will set you apart from others in the marketplace. Building a loyal fan- or customer-base, keeping them engaged with content marketing, thanking them for their loyalty and making it easy for them to tell others about you will help you create a rewarding and sustainable business as a music entrepreneur. Three marketing case studies at the end of the chapter are designed to give you practice in branding and marketing.

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Chapter 5 - Opportunities Ahead: Global Rights Management

This chapter provides a comprehensive look at copyright law within the context of intellectual property as it has developed around the world. While each country has its own specific laws, in general copyright protection is given to the owner of original works of music. The challenges of global rights management are explored. We have spotlighted Cape Verde, a tiny African island that is working to build its unique music into an economic engine. The chapter concludes with a musician’s guide to avoiding copyright infringement.

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Chapter 6 - Revenue Streams: Global Performing and Licensing

In this chapter we will examine the two broad areas of the performance sector that produce revenue streams for artist-entrepreneurs: performance royalties and live events. Entrepreneurial artists, bands, promoters, presenters, and producers tell the story of the live music industry. A proliferation of online tools is helping DIWO artist-entrepreneurs manage their shows and tours. For many groups, however, this is only a short-term strategy.

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Chapter 7 - Revenue Streams: Music Publishing

Music publishing is a large and important area of the music industry that generates revenue through licensing agreements that exploit music copyrights. Royalty revenue comes from contractual relationships with songwriters, composers, and recording artists. Promoting songs, supervising the collection and payment of royalties, and placing songs in movie and TV soundtracks and commercials allows for the development of multiple and recurrent revenue streams. Kobalt Music, an innovative music publisher, is highlighted. The DIWO (Do It With Others) section offers practical advice to music professionals on how to collect all the royalties they are due.

Disclaimer: This chapter is intended to provide an introduction for non-specialists or newcomers to the subject of copyright and related rights. It explains in layman's terms the fundamentals underpinning copyright law and practice. It describes the different types of rights which copyright and related-rights law protects, as well as the limitations on those rights. For specific answers to and detailed guidance on deeper aspects of global copyright law, please consult with legal counsel.

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Chapter 8 - Revenue Streams: Broadcasting and Digital Media

Digital media and broadcasting offer many revenue-producing opportunities for artist- and music-business entrepreneurs. Mastering the user experience is the main focus for entrepreneurs in digital media and broadcasting, where dramatic changes have occurred in a relatively short span of time. Television now has serious competition from Google and other online content providers. The advertising industry is seeing revenues migrate from traditional broadcasting to online broadcasting. Podcasting may be the future of radio. We spotlight two indie filmmakers whose story has lessons for music entrepreneurs. The chapter concludes with advice for DIWO musicians who want to get music synched with film, video, video games, and commercials.

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Chapter 9 - Revenue Streams: Recorded Music

In this chapter you will learn about the revenue-generating opportunities for artist- and music business-entrepreneurs in the area of recorded music. You will see that illegal downloading and copyright infringement remain a major impediment to the recording industry's revenue stream. The importance of record producers is explored. CD Baby, the online distributer, is profiled. DIWO (Do It With Others) artists will find many practical suggestions for earning revenue in the recorded music sector.

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Chapter 10 - Hands On: Start Something That Matters

All the work you have done so far has prepared you well for this final task: starting something that matters. In this chapter you will be guided through the process of selecting one of your ideas for a new music venture and preparing to write a business plan to shop it. Making meaning in the world is the single most important aspect of launching a new venture. Problem-solving exercises will help you find the right entrepreneurial venture for your life’s goals. The guidelines presented here are applicable to ventures where you and your music are the product or service, as well as to ventures that are not quite as personal. All other aspects of developing your venture are presented here, with a section on legal and tax issues for business launched in the United States.

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