Team Players
The Search
Show Me the $
Wheelin' & Dealin'
Binding Words
100
The main players of an artist's team include the business manager, personal manager, attorney and this team member.
What is an agent? Daily Double: True or False, Agents in the music business are very different from agents in the film business.
100
The record company is looking for music that moves your soul and creates a clear vision of who the artist is and what their music is. The demo should have a minimum of this many songs.
What is 2-4? Daily Double: How elaborate and well-recorded should a demo be?
100
Managers typically get from ___ % to ___ % of an artist's gross earnings, with the majority getting ___ %.
What is 15, 20, 15?
100
When negotiating a manager's deal, this term is defined as "the possibility of reducing certain types of earnings."
What is exclusion?
100
Historically, the term of a management agreement was between this range of years.
What is 3-5?
200
The first member of your team and the "key to an open door," according to Passman, is this key member.
What is a lawyer or business manager? Daily Double: According to Passman, which is more involved in structuring deals and shaping artists' business lives, take part in most areas of the artists' career, and end up seeing more deals than anyone else?
200
Record companies will only accept material from these people.
What is a music biz attorney? Large record companies do not accept unsolicited material.
200
Passman recommends limiting the manager's percentage to this amount.
What is 15%?
200
The following are examples of deductions the artist will want to subtracted before computing a manager's percentage: money paid to a producer, publishing, recording costs, tour support, opening acts. There is one that cannot be deducted before computing the percentage.
What is publishing?
200
This clause says that the manager is getting paid only on records recorded and released during the term (and not on any others).
What is sunset clause?
300
This first team member is easier to get than a manager.
What is a music lawyer?
300
The person on an artist's team who handles the accounting, money collection and tracking, paying bills, investments, and taxes.
What is business manager?
300
Passman states that one of the most important points an artist must negotiate is what the manager gets paid after the end of the deal. The manager can be paid on records made after the term of the deal, if the records are recorded under a contract signed at this time.
What is during the term?
300
This term refers to a period of time from the commencement of recording an album until the end of the promotional activities surrounding it.
What is an album cycle?
300
This clause is inserted into a management contract stating that the person with whom the artist has a relationship with must personally act as said artist's manager, and if not, said artist can terminate the deal.
What is a key man clause?
400
The last person on the team is typically this person.
What is a business manager?
400
One item on Passman's "Business Manager Checklist" mentions E&O Insurance in case the business manager mishandles your financial affairs and costs the artist money. E&O stands for this phrase.
What is Errors and Omissions?
400
The custom is for business managers to work on either a percentage (5%), an hourly rate, a _______ , or a combination.
What is flat fee?
400
When negotiating an agent deal, the artist will typically be asked for a term of ___ or more years, and should only offer ___ year(s).
What is 3 and 1?
400
This provision in an artist management contract gives much authority to the manager.
What is a power of attorney provision? Daily Double: Is this a good or bad provision for the artist?
500
The most important person in an artist's professional life is this team member.
What is the personal manager?
500
If an attorney discloses a conflict of interest to their artist, involving that artist and another client, the artist may choose to ignore, or ________, the conflict.
What is waive?
500
The payment option when an attorney asks for a fee based on the size of a deal and his/her contribution to it once the deal is finished, is referred to as this.
What is value billing?
500
These are 2 of the unions that regulate agents.
What is AFM, AFTRA, AE, or SAG? Daily Double: What does the acronym stand for and who do they represent specifically?
500
The union regulation of agencies is called this.
What is franchising?
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