Question 1

Traditional major label deals offer high exposure and large budget agreements between artists and labels.

Accepted Answer

Traditional major label deals typically involve significant investment from the label in terms of marketing and promotion for the artist, with the aim of achieving high levels of exposure and commercial success.

Question 2

Booking agents in the music industry who work with major artists must be franchized by
A) SAG/AFTRA
B) AF of M
C) Equity
D) IATSE
E) The acts' record label

Accepted Answer

Booking agents in the music industry who work with major artists must be franchized by the American Federation of Musicians (AF of M).

Question 3

An attorney should be hired to
A) Seek corporate sponsorships
B) Control all financial matters
C) Review all contracts
D) Acquire appearances in films and TV shows
E) Acquire tours

Accepted Answer

Hiring an attorney to review all contracts can help ensure that the terms and conditions are favorable and protect the best interests of the company. This can also help prevent any potential legal issues that may arise from the contracts. While obtaining corporate sponsorships, controlling financial matters, acquiring appearances in films and TV shows, and acquiring tours may also be important for a company, they do not necessarily require the expertise of an attorney.

Question 4

The artist/manager relationship and business is built on
A) Money
B) Trust
C) Connections
D) Investors
E) Networking

Accepted Answer

While money, connections, investors, and networking are all important in the artist/manager relationship and business, trust is the foundation on which it is built. The artist needs to trust that the manager has their best interests in mind and the manager needs to trust the artist to fulfill their obligations and work towards their mutual goals. Without trust, the relationship is unlikely to be successful in the long term.

Question 5

An example of post-term royalties to an artist manager after the deal is over is
A) A lump sum of money paid to the artist manager at the end of the agreement
B) 5 years and 30% of the gross
C) 1 year and 5% of the gross
D) Zero
E) 5 years at 15% plus another 5 years at 10% plus another 5 years at 5%

Accepted Answer

Post-term royalties are payments made to the artist manager after the termination of the agreement. Choice E provides a specific breakdown of post-term royalties for multiple periods of time and rates. This type of structure is commonly seen in the music industry and provides ongoing compensation for the manager's work even after the agreement has ended.

Question 6

Courtney Love in a statement claimed ""All of those independent promotion costs are charged to the band. Since the original million-dollar advance is also recoupable, the band owes $2 million to the record company."" How much money did the band really owe the label?
A) 2000000
B) 1000000
C) 385000
D) 250000
E) Zero

Accepted Answer

The statement implies that the band owes $2 million, but if the costs are recoupable, it means they are deducted from the band's earnings. If the band hasn't earned enough to cover these costs, they technically owe nothing until they generate sufficient revenue.

Question 7

Lady Gaga's real name is
A) Selena Quintanilla-Perez
B) Stefani Joanne Angelina Germanotta
C) Katheryn Elizabeth Hudson
D) Eleanora Fagan Gough
E) Alecia Moore

Accepted Answer

Lady Gaga's real name is Stefani Joanne Angelina Germanotta.

Question 8

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

Accepted Answer

The development of the Internet, changes in consumer behavior towards acquiring free content, and the proliferation of personal devices like computers and iPhones have all contributed to challenges in the entertainment industry.

Question 9

Artist personal managers bring to the artists
A) Representation
B) Promotion
C) Advice and consent
D) Jobs
E) Concert tours

Accepted Answer

Artist personal managers serve as a representation of the artist, promoting them and providing advice and consent in various aspects of their career. While they may help secure jobs and concert tours, those are not the primary functions of a personal manager.

Question 10

Career goals are established and based on
A) The artist's ego
B) The cost of the management team members
C) The perceived commercialization of the artist image and talents
D) The recoupment requirement of the label
E) Branding opportunities

Accepted Answer

The answer of Career goals are established and based on
A)...

Question 11

Business managers are hired to
A) Control the revenues
B) Give advice and consent to the act for career advancement
C) Take care of the accounting, taxes, and investments
D) Hire the personal manager and tour support
E) Find jobs and tours for the act

Accepted Answer

The answer of Business managers are hired to
A) Control the...

Question 12

Personal managers provide
A) Promotion
B) Financial decisions on investments
C) Film roles in movies and TV shows
D) Touring jobs
E) Advice and consent

Accepted Answer

Personal managers provide advice and consent on various aspects of an artist's career, including but not limited to decision-making related to contracts, branding, public image, and career trajectory. While managers may sometimes help with securing roles and touring jobs, these responsibilities primarily fall under the purview of talent agents and booking agents, respectively. Financial decisions on investments may also be made in consultation with a manager, but typically require the services of a specialized financial advisor or accountant. Promotion is generally the responsibility of publicists or marketing teams working in partnership with the artist and their manager.

Question 13

Pollstar is the trade magazine for
A) The touring industry
B) The music industry record sale charts
C) Location sources for managers tied to acts
D) The film industry
E) Professional theater

Accepted Answer

Pollstar is known for its coverage and analysis of the touring industry, including concerts, festivals, and other live events.

Question 14

Film actors are representated by
A) Artist personal managers
B) Talent agents
C) Business managers
D) The AF of M
E) The Harry Fox Agency

Accepted Answer

Film actors are typically represented by talent agents who negotiate contracts and book auditions on their behalf. The other options listed (artist personal managers, business managers, AF of M, and Harry Fox Agency) may be involved in the entertainment industry but are not typically responsible for representing film actors.

Question 15

Most recording artists never make any money from their record deals and some labels fail to make any money from a few of their acts.

Accepted Answer

This is true. Although some recording artists become incredibly successful and wealthy, many do not make significant money from their record deals, and some even end up owing the label money. Additionally, some labels may invest in certain acts that do not end up generating much revenue, leading to a loss for the label.

Question 16

For a recording artist, talent is always more important to a label than a work ethic, personality, and minor airplay.

Accepted Answer

While talent is crucial, labels also highly value an artist's work ethic, personality, and existing exposure (like airplay) as these factors significantly contribute to an artist's marketability and potential for success.

Question 17

For an artist, it is important to live on the adrenaline rush and think that someday you'll be discovered, and then become rich and famous.

Accepted Answer

While it is normal for artists to dream of success and recognition, relying solely on the hope of being "discovered" and becoming rich and famous is not a sustainable approach to building a successful career in the arts. It takes hard work, dedication, and proactive effort to develop one's skills, market oneself effectively, and build a following or fanbase.

Question 18

Talent is more important than networking to getting your shot at a career in the business.

Accepted Answer

While talent is important, networking can often open doors and provide opportunities that may not have been available solely based on talent. Building relationships and connections with people in the industry can lead to valuable connections and opportunities for aspiring professionals.

Question 19

Many professional industry executives are always looking for the ""next big thing.""

Accepted Answer

Yes, it is commonly known that professionals are always looking for the next big thing to propel their industry forward and stay ahead of competitors.

Question 20

In typical record labels deals, the option means that either the act or the label may decide to continue or drop the deal.

Accepted Answer

In typical record label deals, the option usually gives the label, not the act, the right to extend the contract for additional albums or periods.

Quiz 11: Representation

Traditional major label deals offer high exposure and large budget agreements between artists and labels.

Booking agents in the music industry who work with major artists must be franchized by

An attorney should be hired to

The artist/manager relationship and business is built on

An example of post-term royalties to an artist manager after the deal is over is

Courtney Love in a statement claimed ""All of those independent promotion costs are charged to the band. Since the original million-dollar advance is also recoupable, the band owes $2 million to the record company."" How much money did the band really owe the label?

Lady Gaga's real name is

The current problems facing the entertainment industry have been caused by

Artist personal managers bring to the artists

Career goals are established and based on

Business managers are hired to

Personal managers provide

Pollstar is the trade magazine for

Film actors are representated by