Deck 12: The Concert and Event Business

Question 1

Individuals and companies may ""use"" a copyrighted creative work free of charge to create new products or build companies for profit.

Answer 1

False

Question 2

A rider is an

A) Approval of the number of ""riders"" who may travel on a tour bus
B) An additional set of instructions for the promoter regarding artist's requirements
C) An addition to the recording contract that restricts the act from recording for other labels
D) A contract between the act's management company and a tour support service such as an airlines or trucking company
E) Better known as a bid sheet

Answer 2

B

Question 3

IATSE is the union that represents

A) Recording artists
B) Movie directors
C) Background singers
D) Stage hands
E) Musicians

Answer 3

D

Question 4

The Grammy Awards are given for achievement in the

A) Film industry
B) Music industry
C) Theater industry
D) Touring/event business

Question 5

The Current problems facing the entertainment industry have been caused by

A) The development of the Internet
B) A change in consumers' behavior as they now acquire products free
C) Personal devices such as computers and iPhones
D) A shift in the quality of the programming of entertainment products

Question 6

In the entertainment and music industry the creative circle includes

A) Music publishers
B) Authors who create and own their copyrights
C) Talent agents
D) Film and production companies
E) Record labels

Question 7

In the entertainment and music industry the representative circle includes

A) Music publishers
B) Authors who create and own their copyrights
C) Talent agents
D) Film and production companies
E) Record labels

Question 8

In the entertainment and music industry the production circle includes

A) Music publishers
B) Authors who create and own their copyrights
C) Talent agents
D) Film and production companies
E) Record labels

Question 9

An executive decision by using ________ to allow consumers to ""discover"" a new entertainment product or show is called

A) The recording budget
B) An advance
C) Publicity
D) Promotion
E) Distribution

Question 10

In the entertainment and music industry 360 revenue streams include

A) Touring and ticket sells
B) Merchandise
C) Corporate sponsorships
D) Signing bonuses
E) Product endorsements tied to branding

Question 11

How much money the promoters pay the acts for their performances depends on

A) Approval by the Harry Fox Agency
B) Bank loans to the promoter
C) Consumers willing to pay enough for the tickets to cover all the bills and provide a profit
D) The act's ability to draw a large audience
E) The fame of the act

Question 12

The largest tour companies in the United States are

A) Ticketmaster
B) AEG-Live
C) MCA/Capital
D) Live Nation
E) The Country Music Association

Question 13

The best type of concert promotion deal that provides security for the act and the promoter of the event is

A) Straight guarantee
B) Guarantee plus a percentage of the net (gate after all bills have been paid)
C) Guarantee versus a percentage of the net (gate after all bills have been paid)
D) Guarantee plus a bonus
E) Self-promotion deal

Question 14

The best type of concert promotion deal that provides more financial security for the act is

A) Straight guarantee
B) Guarantee plus a percentage of the net (gate after all bills have been paid)
C) Guarantee versus a percentage of the net (gate after all bills have been paid)
D) Guarantee plus a bonus
E) Self-promotion deal

Question 15

Successful club acts may have to "buy on" to be the opening act for a major artist on a tour at the cost of

A) 25 cents to 1 dollar a seat
B) 50% of all merchandise sales to the major act
C) 50% of all merchandise sales to the promoter of the event or concert
D) $2.50 per seat
E) There is no such thing

Question 16

Many concert venues require what percent of the seats to be sold to break even financially?

A) 0.2
B) 0.3
C) 50-80%
D) 0.85
E) 1

Question 17

Promoters are usually required to deposit or guarantee what percentage of the agreed-upon price to secure an act for an event?

A) 0.1
B) 0.25
C) 50-100%
D) Always 100%
E) No deposit is required

Question 18

Companies who want to use a copyright creative work must buy the copyright of the work before using it.

Question 19

The business systems are based on the promoters' money, productions, publicity, distribution, sales, and marketing of events instead of albums for sale.

Question 20

Booking agents are part of the creative circle in the entertainment industry.

Question 21

The purpose of creating an event is simply to make money.

Question 22

The American Federation of Musicians (AFM) and SAG-AFTRA use booking agents licensed to represent their artists and contacts provided by the union headquarters.

Question 23

Once promoters determine which acts to book (employ), they match the artists (who are on tour and available) with the venues that have open dates.

Question 24

The artists receive 50-75% of the gross income from merchandise, while the providing company pays for all the merchandise, shipment, sales personnel, booths, tables, and advertisements.

Question 25

Ticket scalping is illegal in all states of the United States.

Question 26

IEBA is a nonprofit organization that sponsors national and regional conference for colleges representatives.

Question 27

Scaling the house is the process of determining the ticket prices for various seats (in a variety of locations) in the arena or venue.

Question 28

Once the licenses for the original copyrighted "creative works" such as a book manuscript, song, stage play, etc., are obtained, it's time to

A) Exploit the executive rights
B) Hire agents to find creative works
C) Create a product
D) Register a claim of copyright

Question 29

The worldwide event business grosses about

A) $2.5 billion a year
B) $25 billion a year
C) $250 billion a year
D) $2.5 trillion a year

Question 30

The leading trade magazine in the touring industry is

A) Billboard
B) Variety
C) People Magazine
D) Pollstar
E) Amusement Business

Question 31

Promoters use bid sheets to determine

A) The total cost of putting on a concert or event
B) The cost of the artists
C) The cost of the IATSE crew
D) The cost of the venue
E) The ticket prices, break-even points, and potential profits