Music Business Procedure And Knowledge Quiz #2

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1. The four major record companies are: EMI, Sony, Universal, and ___________.

Explanation

The question asks for the name of the fourth major record company, and the correct answer is "Warner." This means that Warner is one of the four major record companies alongside EMI, Sony, and Universal.

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Music Business Procedure And Knowledge Quiz #2 - Quiz

Music Business Procedure And Knowledge Quiz #2 assesses understanding of market dynamics, branding, and market share in the music industry. It evaluates key skills in identifying consumer needs, differentiating brands, and understanding competitive standings of major music companies.

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2. The four major record companies are: Warner, EMI, Sony, and _________.

Explanation

The question asks for the missing major record company to complete the list. The correct answer is "Universal." Universal Music Group is one of the four major record companies, along with Warner Music Group, EMI Group, and Sony Music Entertainment. These companies dominate the global music industry and have a significant influence on the production, distribution, and promotion of music worldwide.

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3. Each record company is made up of three components:

Explanation

The correct answer is "All of the above" because each record company consists of distribution companies, record labels, and a publishing company. These three components work together to handle different aspects of the music industry. Distribution companies are responsible for distributing the music to various platforms and retailers. Record labels are in charge of signing and promoting artists, as well as producing and marketing their music. The publishing company deals with the copyrights and licensing of the music. Therefore, all three components are necessary for a complete record company.

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4. Putting music up for download on iTunes or streaming files on Pandora is considered digital distribution/sales.

Explanation

This statement is true because both putting music up for download on iTunes and streaming files on Pandora involve the distribution and sale of digital music. iTunes allows users to purchase and download music digitally, while Pandora allows users to stream music online. Both methods involve the distribution and sale of music in a digital format, making the statement true.

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5. Artists and Repertoire (A&R) is the individual at a record company that finds talent and deals with all the creative elements of making records. 

Explanation

Artists and Repertoire (A&R) is indeed the individual at a record company responsible for finding talent and handling all the creative aspects of making records. They play a crucial role in scouting and signing new artists, overseeing the production process, and ensuring the artistic direction aligns with the company's vision. A&R professionals are involved in selecting songs, working with songwriters and producers, and providing guidance to artists throughout the recording process. Their expertise and insights contribute to the success and quality of the records released by the company.

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6. The content of a record company is its record labels and the master recordings that the label owns. 

Explanation

A record company's content refers to its record labels and the master recordings that the label owns. This means that the record company's value lies in the ownership and management of these labels and recordings. Therefore, the given statement that the content of a record company is its record labels and master recordings is true.

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7. _______ is money paid to an artist for sales of their music.

Explanation

Royalty is the correct answer because it refers to the money paid to an artist for sales of their music. When an artist's music is sold, they receive a percentage of the revenue generated, which is known as royalty. This payment is a form of compensation for their creative work and serves as a way to reward and incentivize artists for their contributions to the music industry.

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8. Major labels have access to huge amounts of capital.

Explanation

Major labels have access to huge amounts of capital because they are backed by large corporations or investors who are willing to invest significant amounts of money into their operations. This allows major labels to fund expensive recording sessions, marketing campaigns, and other promotional activities that can help launch and promote an artist's career. Additionally, major labels often have established relationships with distribution channels, which further enhances their ability to generate revenue and access capital.

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9. Indie labels take more creative risks than Major labels.  They are the "tastemakers" that set the trends.

Explanation

Indie labels are known for their willingness to take creative risks and explore new and unconventional sounds and styles. Unlike major labels, which often prioritize commercial success and mainstream appeal, indie labels are more focused on artistic integrity and pushing boundaries. They are often seen as the "tastemakers" of the music industry, setting trends and influencing popular culture. Therefore, it can be concluded that indie labels do indeed take more creative risks than major labels, making the answer "True."

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10. Royalty can be a negotiated percentage or a fixed amount. 

Explanation

Royalty refers to the payment made to the owner of a property or intellectual property for the use or sale of that property. It can be calculated as a negotiated percentage of the revenue generated from the property or as a fixed amount. This means that the amount paid as royalty can be based on a percentage of the sales or profits, or it can be a predetermined fixed sum. Therefore, the statement that "Royalty can be a negotiated percentage or a fixed amount" is true.

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11. A ______ is the final version of a track or album that is turned into the record company that goes into the vaults as the final asset that the record company owns.

Explanation

The term "master" refers to the final version of a track or album that is submitted to the record company. This version is considered the ultimate asset owned by the record company and is stored in their vaults. The master represents the completed and polished version of the music, ready for distribution and release.

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12. An _________ is a series of payments from the record label to the artist that is recoupable against artist record royalties.

Explanation

An advance is a series of payments made by the record label to the artist. These payments are recoupable, meaning that they can be deducted from the artist's record royalties. In other words, the artist will need to repay the advance through their future earnings from record sales. This allows the record label to provide financial support to the artist upfront, while also ensuring that they can recoup their investment before the artist starts earning significant royalties.

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13. Record labels advance money for:

Explanation

Record labels advance money for various purposes such as recording, tour support, and recoupable marketing services. When an artist signs with a record label, they often receive an advance, which is an upfront payment to cover the costs associated with recording their music. This includes studio time, hiring musicians, and production expenses. Additionally, record labels may provide financial support for the artist's tours, covering expenses like travel, accommodation, and promotion. Lastly, record labels invest in marketing services to promote the artist's music, and these costs are recoupable, meaning they are deducted from the artist's future earnings. Therefore, the correct answer is "All of the above."

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14. Major labels act as a distributor for many independent labels.

Explanation

Major labels often have a distribution arm that allows them to distribute music not only from their own artists but also from independent labels. This means that independent labels can benefit from the major label's established distribution network and reach a wider audience. Acting as a distributor for independent labels also allows major labels to diversify their catalog and potentially discover new talent. Therefore, the statement that major labels act as a distributor for many independent labels is true.

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15. Caroline/EMI Label Services is the indie distributor for EMI.

Explanation

Caroline/EMI Label Services being the indie distributor for EMI means that they are responsible for distributing EMI's music to independent record stores and online platforms. This implies that Caroline/EMI Label Services works closely with EMI and handles the distribution process on their behalf, making the statement true.

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16. Record companies take part in the ________ of recorded music.

Explanation

Record companies are involved in various aspects of the recorded music industry. They are responsible for sales, as they distribute and sell the recorded music to consumers. They also play a role in production, overseeing the recording, mixing, and mastering processes. Record companies are involved in the creation of music by signing and developing artists, and they also handle the manufacturing of physical copies of the music, such as CDs and vinyl records. Therefore, all of the options listed - sales, production, creation, and manufacturing - are activities in which record companies participate.

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17. Booking agents earn their money by taking a percentage from the artists live performance income.

Explanation

Booking agents earn their money by taking a percentage from the artists' live performance income. This means that when an artist performs at a concert, the booking agent receives a portion of the money earned from ticket sales or other sources of income related to the live performance. This arrangement incentivizes booking agents to secure high-paying gigs for their clients and ensures that they are financially invested in the success of the artist's live performances.

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18. The term used to describe the process in which a record company recovers the money they have advanced to a recording artist is...

Explanation

Recoupment is the term used to describe the process in which a record company recovers the money they have advanced to a recording artist. This typically happens by deducting the artist's earnings from album sales, merchandise, or other revenue streams until the initial investment is fully recovered. It is an essential aspect of the music industry, ensuring that record labels can recoup their expenses and make a profit from their investments in artists.

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19. A ___________ is a recording deal in which the record label receives money from not just record sales, but also touring income, merchandise income, etc...

Explanation

A 360 deal is a recording contract where the record label receives a percentage of not only the artist's record sales, but also their income from touring, merchandise, and other sources. This type of deal allows the record label to have a financial stake in all aspects of the artist's career, not just their recorded music. It is a way for record labels to maximize their profits and ensure a more comprehensive partnership with the artist.

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20. Traditional record deals give the record company ownership of any recordings made by an artist.

Explanation

Traditional record deals typically involve the record company owning the rights to any recordings made by an artist. This means that the record company has control over the distribution, promotion, and monetization of the artist's music. The artist may receive royalties or a percentage of the profits, but ultimately, the ownership and control lie with the record company. This arrangement has been the standard in the music industry for many years, although there has been a shift towards more artist-friendly deals in recent times.

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21. The traditional chain of music distribution is: Artist > Record Label > Record Company/Distributor > Retail > Consumer

Explanation

The traditional chain of music distribution involves the artist creating the music, then signing with a record label. The record label then works with a record company or distributor to distribute the music to retail stores. Finally, the consumer purchases the music from the retail store. This process has been the standard way of distributing music for many years.

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22. This identifies the wants and needs of the consumer/customer:

Explanation

Marketing is the correct answer because it involves identifying and understanding the wants and needs of the consumer or customer. Marketing strategies are designed to analyze consumer behavior, conduct market research, and develop products or services that meet the demands of the target audience. Through various marketing techniques, businesses aim to effectively communicate and promote their offerings to attract and satisfy customers.

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23. ____ holds 10% of the current market share.

Explanation

EMI holds 10% of the current market share.

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24. The publishing companies operate independently from the distribution and record labels. 

Explanation

This statement suggests that publishing companies function separately from distribution and record labels. In the music industry, publishing companies are responsible for managing and licensing the rights to songs, while distribution companies handle the physical or digital distribution of music, and record labels oversee the production and promotion of artists and their music. Therefore, it is true that publishing companies operate independently from distribution and record labels.

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25. ___________ is a company's percentage share of total sales within a given market. 

Explanation

Market share refers to the percentage of total sales that a company has within a specific market. It is a measure of a company's success and competitiveness in relation to its competitors. By calculating market share, companies can assess their position in the market and evaluate their performance. It is an important metric for businesses to track as it provides insights into their market presence and helps in making strategic decisions to improve their market position.

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26. RIAA stands for  ___________.

Explanation

The correct answer is "Recording Industry Association of America." The RIAA is an organization that represents the recording industry in the United States. They work to protect the rights of music creators, promote the value of music, and enforce copyright laws. They also certify and award certifications for albums and singles based on their sales and streaming numbers. The RIAA plays a significant role in the music industry and is responsible for many initiatives and actions to support and advocate for the recording industry.

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27. Distributing CDs or records would be considered digital distribution/sales.

Explanation

Distributing CDs or records would not be considered digital distribution/sales because CDs and records are physical formats, not digital formats. Digital distribution/sales refers to the distribution or sale of digital files, such as music or movies, through online platforms or streaming services.

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28. The process of converting goods or services into money is known as __________.

Explanation

Monetization refers to the process of converting goods or services into money. This can be done through various means such as selling products, offering services for a fee, or generating revenue through advertising. Monetization is an essential aspect of any business or economic system as it allows for the exchange of value and facilitates economic growth.

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29. Only __% (or less) of records "break even"

Explanation

This answer suggests that only 20% or less of the records achieve a break-even point. This means that the majority of the records do not generate enough revenue to cover their costs. It indicates that a significant portion of the records may be operating at a loss or not generating any profit.

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30. Mechanical royalties is not split up amongst co-writers. 

Explanation

Mechanical royalties are typically split among co-writers based on their respective contributions to the song. This means that if multiple songwriters collaborated on a song, they will generally share the mechanical royalties in proportion to their individual contributions. Therefore, the statement that mechanical royalties are not split up amongst co-writers is false.

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31. ____ holds 26% of the current market share.

Explanation

Sony holds 26% of the current market share.

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32. The group that represents American record companies, awards gold and platinum status to songs and albums, and is infamous for filing lawsuits against copyright infringing music downloaders is known as the _____

Explanation

The correct answer is RIAA. The Recording Industry Association of America (RIAA) is the group that represents American record companies. They are responsible for awarding gold and platinum status to songs and albums based on their sales and streaming numbers. The RIAA is also notorious for filing lawsuits against individuals who illegally download copyrighted music.

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33. All of the following are owned by publicly held corporations except:

Explanation

EMI is the correct answer because it is not owned by a publicly held corporation. Universal, Sony, and Warner are all examples of publicly held corporations that are involved in the music industry. EMI, on the other hand, is a British music company that was once publicly traded but is now privately owned. Therefore, it is not owned by a publicly held corporation.

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34. _______ is owned by a private equity firm and their only source of income is music. 

Explanation

EMI is owned by a private equity firm and their only source of income is music. This suggests that EMI is a company that specializes in the music industry and is owned by a private equity firm, meaning it is not publicly traded. The fact that their only source of income is music implies that EMI generates revenue solely from activities related to music, such as music sales, licensing, and publishing.

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35. You are not allowed to sign a recording deal with one company and a publishing deal with another company. 

Explanation

This statement is false because it is possible for an artist to sign a recording deal with one company and a publishing deal with another company. In the music industry, recording deals are focused on the production and distribution of the artist's recorded music, while publishing deals are centered around the rights to the artist's compositions and the collection of royalties. It is common for artists to have separate agreements with different companies for these two aspects of their music career.

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36. ______________ are individuals that book shows/tours for the artist and earn their money by taking a percentage from the artists live performance income. 

Explanation

Booking agents are individuals who work on behalf of artists to secure shows and tours. They play a crucial role in the artist's career by negotiating contracts, coordinating logistics, and promoting the live performances. Booking agents earn their income by taking a percentage from the artist's live performance earnings. This arrangement incentivizes them to secure as many high-paying gigs as possible for the artist, as their income is directly tied to the artist's success in the live music industry.

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37. Record labels provide _________ for: Recording, tour support, and recoupable marketing services.

Explanation

Record labels provide advances for recording, tour support, and recoupable marketing services. Advances are upfront payments given to artists by record labels to cover their expenses related to recording, touring, and marketing. These advances are usually recoupable, meaning that the label will deduct the amount from the artist's future earnings. This financial support allows artists to focus on their music and career without worrying about the immediate financial burden.

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38. Each major distribution company also has distributed labels throughout a secondary ______ distributor.

Explanation

The correct answer is "indie" because the sentence suggests that each major distribution company has distributed labels through a secondary distributor. The term "indie" is short for independent, which typically refers to small, non-mainstream companies or artists. Therefore, in this context, the word "indie" would be appropriate to describe the secondary distributor as an independent or non-mainstream entity.

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39. A _______ is any guest that plays on a recording who is not an artist contracted to the record company. 

Explanation

A side artist refers to any guest who performs on a recording but is not under contract with the record company. This means that they are not officially signed or affiliated with the record label and are instead brought in as a guest or session musician. They may contribute to the recording by playing an instrument or providing additional vocals, but they are not considered a primary artist or part of the main lineup.

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40. A recoupable advance an artist receives from the record company that allows them to go on tour without losing money is known as _________.

Explanation

A recoupable advance is a sum of money given to an artist by the record company, which they can use to fund their tour expenses. This advance is called "tour support" because it allows the artist to go on tour without incurring financial losses. It helps cover costs such as travel, accommodation, equipment, and other expenses associated with touring. The artist is expected to repay this advance from their future earnings, typically through album sales or concert revenues.

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41. The three major components of a record company are: Distribution companies, Publishing company, and _________.

Explanation

The three major components of a record company are: Distribution companies, Publishing company, and record labels. Record labels play a crucial role in the music industry as they are responsible for signing and promoting artists, producing and distributing music recordings, and managing the overall business aspect of the artist's career. They provide the necessary resources and support to artists, helping them reach a wider audience and achieve commercial success. Without record labels, the music industry would lack the infrastructure and expertise required to develop and market artists effectively.

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42. All four of the major labels are owned by publicly held corporations.

Explanation

The statement is false because not all four of the major labels are owned by publicly held corporations. While some of the major labels may be owned by publicly held corporations, it is not true for all of them. Therefore, the correct answer is false.

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43. This is a means of a distinguishing the goods and services of one business from that of their competitors:

Explanation

Branding is the process of creating a unique and recognizable identity for a business or its products/services. It involves the use of specific elements such as a name, logo, design, and messaging to differentiate the business from its competitors. By establishing a strong brand, businesses can effectively communicate their values, establish trust, and create a loyal customer base. This differentiation helps consumers identify and choose the products/services of a particular business over others in the market.

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44. ________ is media exposure or information disseminated through various media outlets to attract public notice. 

Explanation

Publicity refers to media exposure or information disseminated through various media outlets to attract public notice. It involves creating awareness and generating interest in a product, service, or organization by sharing news stories, press releases, or other promotional content through media channels such as newspapers, television, radio, and online platforms. Publicity aims to capture the attention of the target audience and create a positive image or reputation for the entity being promoted. It is a strategic communication tool used to increase visibility and enhance public perception.

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45. ________ is the group that puts on the Grammy Awards.

Explanation

NARAS, which stands for the National Academy of Recording Arts and Sciences, is the group responsible for organizing and hosting the Grammy Awards. They are responsible for selecting the nominees and winners in various music categories and putting together the annual awards ceremony. NARAS is made up of music industry professionals, including musicians, producers, engineers, and other recording professionals, who vote on the awards and contribute to the overall mission of promoting and honoring excellence in the recording arts.

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46. A _______ is necessary to retain ownership of something, such as music, and can allow another entity to use it for a defined period of time.

Explanation

A license is a legal document or agreement that grants permission to an individual or entity to use or retain ownership of something, such as music. It allows another entity to use the licensed material for a specific period of time, while the original owner retains ownership rights. This ensures that the owner maintains control over their intellectual property and can regulate its usage. Licensing agreements are commonly used in various industries, including music, software, and intellectual property.

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47. _________ are the methods and activities employed to establish and promote a favorable relationship with the public. 

Explanation

Public Relations refers to the methods and activities used to create and maintain a positive relationship with the public. It involves managing communication, building trust, and promoting a favorable image of an organization or individual. Public Relations professionals use various strategies such as media relations, social media management, event planning, and crisis management to establish and enhance the reputation and public perception of their clients. Through effective Public Relations, organizations can cultivate goodwill, manage their reputation, and gain support from the public.

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48. A corporation or group engaged in the creation, production, manufacturing, distribution, marketing, and sales of recorded music is known as a _____________.

Explanation

A corporation or group engaged in the creation, production, manufacturing, distribution, marketing, and sales of recorded music is known as a record company. This term refers to the business entity responsible for various aspects of the music industry, including signing and promoting artists, producing and distributing albums, and managing the sales and marketing of recorded music. Record companies play a crucial role in the music industry by facilitating the production and distribution of music to the public.

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49. Tour support is usually given to developing artists that don't earn a lot touring.

Explanation

Tour support refers to financial assistance provided to artists who are in the early stages of their career and may not have a significant income from touring. This support helps them cover expenses such as travel, accommodation, and production costs associated with touring. Therefore, it is true that tour support is typically given to developing artists who do not earn a substantial amount from touring.

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50. _________ are the study of population segments to identify consumer-buying habits. 

Explanation

Demographics refers to the study of population segments, including factors such as age, gender, income, education, and occupation. By analyzing these characteristics, marketers can gain insights into consumer-buying habits and preferences. Understanding demographics helps businesses tailor their products, services, and marketing strategies to specific target audiences, increasing the effectiveness of their campaigns and ultimately driving sales.

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51. Side artists are contracted to the record company.

Explanation

The statement suggests that side artists are contracted to the record company, but this is not necessarily true. Side artists are typically hired or contracted by the main or lead artist to provide additional support or contribute to a recording or performance. They may have their own separate contracts or agreements with the lead artist, rather than being directly contracted to the record company. Therefore, the correct answer is False.

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52. Music sales and/or distribution based around the internet is known as...

Explanation

Digital distribution refers to the process of selling and delivering music through the internet. It involves the distribution of music in digital formats such as MP3, streaming services, and online stores. This method has become increasingly popular with the rise of digital technology and the decline of physical sales. It allows artists and record labels to reach a global audience and provides consumers with convenient access to a wide range of music. Digital distribution has revolutionized the music industry, making it easier for artists to distribute and monetize their music while giving consumers more choices in how they access and listen to music.

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53. Strengths of major labels include all of the following except:

Explanation

The question asks for an exception among the strengths of major labels. 360 Deals are not a strength of major labels, as they are controversial and often seen as unfair by artists. While leverage, distribution, and marketing are all strengths of major labels, 360 Deals involve the label taking a percentage of an artist's earnings from multiple revenue streams, including merchandise, tours, and endorsements, which can be seen as exploitative.

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54. __________ are a fixed rate of 9-cents per song, paid to the songwriter(s) of each song. 

Explanation

Mechanical royalties are a fixed rate of 9-cents per song, paid to the songwriter(s) of each song. These royalties are generated from the sale or streaming of recorded music and are paid to the songwriters as compensation for the use of their work. This is different from other types of royalties such as record royalties, which are paid to the artist or record label, and license royalties, which are paid for the use of music in commercials, films, or other media. Touring royalties are earned by artists from their live performances.

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55. The three major components of a record company are: Record labels, Distribution companies, and ________.

Explanation

A publishing company is a crucial component of a record company as it handles the licensing and administration of music copyrights. They are responsible for ensuring that the songwriters and composers receive proper royalties for their work. Publishing companies also play a significant role in securing placements for songs in various media platforms such as films, commercials, and television shows. By working closely with record labels and distribution companies, publishing companies contribute to the overall success and profitability of the record company by maximizing the revenue generated from the music catalog.

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56. The service owned by the Nielson Company that collects and compiles sales data on albums and singles (including CDs, LPs, and digital downloads) is called...

Explanation

Soundscan is the correct answer because it is a service owned by the Nielson Company that specializes in collecting and compiling sales data on albums and singles. It tracks sales across various formats including CDs, LPs, and digital downloads. Soundscan is widely recognized and used in the music industry to measure the popularity and success of music releases.

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57. The indie distributor for Sony is...

Explanation

RED is the correct answer because it is an indie distributor for Sony. RED (Relativity Entertainment Distribution) is a subsidiary of Relativity Media and has a distribution deal with Sony Pictures Entertainment. They handle the distribution of independent films and provide marketing and promotional support to filmmakers.

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58. _______________ consist of many record labels. 

Explanation

Major labels refer to the large, well-established record labels that have a significant presence and influence in the music industry. These major labels typically have a wide range of artists and genres under their roster and have the resources and infrastructure to promote and distribute music on a large scale. Therefore, when it is stated that "major labels consist of many record labels," it means that major labels encompass multiple subsidiary or affiliated record labels.

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59. The traditional chain of music distribution is: Artist > Record Company/Distributor > Record Label > Retail > Consumer

Explanation

The traditional chain of music distribution is not Artist > Record Company/Distributor > Record Label > Retail > Consumer. The correct order is Artist > Record Label > Record Company/Distributor > Retail > Consumer.

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60. _______ is the foundation and lifeblood of a record company. 

Explanation

Content refers to the music, videos, and other creative works that are produced and owned by a record company. It is the foundation on which the record company builds its brand and reputation. Without quality content, a record company would not be able to attract and retain artists, sign new talent, or generate revenue. Content is also the lifeblood of a record company as it is what drives sales, streaming, and licensing deals. It is the core product that record companies rely on to connect with audiences and generate success in the music industry.

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61. _____________ are a negotiated percentage paid to the artist/performer.

Explanation

Record royalties are a negotiated percentage paid to the artist/performer for the sales or streams of their recorded music. This means that whenever their music is purchased, downloaded, streamed, or played on the radio or in public, the artist/performer receives a percentage of the revenue generated from these activities. These royalties are a way for artists/performers to earn income from their recorded music and compensate them for their creative work.

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62. Major record labels show a much wider variety of musical styles than Indie record labels.

Explanation

The statement is false because indie record labels are known for promoting a wider variety of musical styles compared to major record labels. Major labels tend to focus on mainstream and commercially successful genres, while indie labels often support and release music from more niche or experimental genres. This allows indie labels to have a more diverse and eclectic roster of artists, making the statement incorrect.

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63. The three major components of a record company are: Record labels, Publishing company, and _________.

Explanation

The three major components of a record company are record labels, publishing companies, and distribution companies. Distribution companies play a crucial role in the music industry by ensuring that the music produced by record labels reaches a wide audience. They are responsible for the physical and digital distribution of music to various platforms such as music stores, streaming services, and radio stations. Distribution companies handle logistics, marketing, and promotional activities to make sure that the music reaches the target market effectively.

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64. The indie distributor for EMI is...

Explanation

Caroline is the correct answer because it is an indie distributor for EMI. Caroline specializes in distributing independent music and is a subsidiary of Universal Music Group. They work with artists and labels to distribute their music globally, providing marketing and promotional support. Caroline has a strong reputation in the industry and has successfully distributed music from various genres.

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65. NARAS stands for _____________.

Explanation

NARAS stands for National Academy of Recording Arts and Sciences. This organization is responsible for organizing the Grammy Awards, which recognize outstanding achievements in the music industry. The name accurately reflects the purpose and scope of the organization, as it encompasses both the artistic and technical aspects of recording arts.

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66. The indie distributor for Universal is...

Explanation

Fontana is the correct answer because it is an indie distributor for Universal. Fontana is a subsidiary of Universal Music Group and specializes in distributing independent music labels and artists. They provide marketing, promotion, and distribution services to help indie artists reach a wider audience and distribute their music globally. Fontana has a strong reputation and track record in the music industry, making them a reliable choice for independent artists looking for distribution support.

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67. _____ holds 32% of the current market share.

Explanation

Universal holds 32% of the current market share.

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68. Money an individual receives to cover daily living expenses while on tour or in the studio is called _____________.

Explanation

Per Diem refers to the money that an individual receives to cover their daily living expenses while on tour or in the studio. It is a fixed amount of money that is given to cover expenses such as meals, transportation, and accommodation. This allowance helps artists and musicians to manage their finances and ensures that they have the necessary funds to support themselves while away from home.

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69. The indie distributor for Warner is...

Explanation

ADA (Alternative Distribution Alliance) is the correct answer because it is a well-known indie distributor for Warner. ADA specializes in distributing independent music and has a strong relationship with Warner, making it the go-to choice for indie artists and labels looking to distribute their music through Warner's channels. Caroline, RED, and Fontana are also indie distributors, but they are not specifically associated with Warner like ADA is.

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70. __% of all records released by major record labels lose money.

Explanation

The correct answer is 80 because it indicates that 80% of all records released by major record labels lose money. This suggests that the majority of records released by these labels are not profitable.

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71. ____ holds 20% of the current market share.

Explanation

Warner Music holds 20% of the current market share.

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72. Independent Record Labels hold __% of the current market share. 

Explanation

Independent record labels hold 12% of the current market share. This means that out of the total market for recorded music, independent labels have a 12% share. This indicates that independent labels are a significant player in the music industry and have a substantial presence in the market.

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73. Any outlet that sells physical or digital forms of music such as :iTunes, Wal-Mart, etc... is known as a ___________.

Explanation

An outlet that sells physical or digital forms of music, such as iTunes or Wal-Mart, is commonly referred to as a music retailer. These retailers provide a platform for customers to purchase music in various formats, catering to both physical and digital preferences. They play a crucial role in the distribution and availability of music, making it accessible to consumers through different channels.

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74. The individual at a record company that finds talent and deals with the creative elements of making records works in the ________________ department.

Explanation

The individual at a record company who finds talent and deals with the creative elements of making records works in the Artists and Repertoire department. This department is responsible for scouting and signing new artists, overseeing the artistic direction of their music, and coordinating the production and promotion of their records. They play a crucial role in discovering and developing talent, as well as shaping the overall artistic vision of the record company.

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The four major record companies are: EMI, Sony, Universal, and...
The four major record companies are: Warner, EMI, Sony, and _________.
Each record company is made up of three components:
Putting music up for download on iTunes or streaming files on Pandora...
Artists and Repertoire (A&R) is the individual at a record company...
The content of a record company is its record labels and the master...
_______ is money paid to an artist for sales of their music.
Major labels have access to huge amounts of capital.
Indie labels take more creative risks than Major labels.  They...
Royalty can be a negotiated percentage or a fixed amount. 
A ______ is the final version of a track or album that is turned into...
An _________ is a series of payments from the record label to the...
Record labels advance money for:
Major labels act as a distributor for many independent labels.
Caroline/EMI Label Services is the indie distributor for EMI.
Record companies take part in the ________ of recorded music.
Booking agents earn their money by taking a percentage from the...
The term used to describe the process in which a record company...
A ___________ is a recording deal in which the record label receives...
Traditional record deals give the record company ownership of any...
The traditional chain of music distribution is: Artist > Record...
This identifies the wants and needs of the consumer/customer:
____ holds 10% of the current market share.
The publishing companies operate independently from the distribution...
___________ is a company's percentage share of total sales within a...
RIAA stands for  ___________.
Distributing CDs or records would be considered digital...
The process of converting goods or services into money is known as...
Only __% (or less) of records "break even"
Mechanical royalties is not split up amongst co-writers. 
____ holds 26% of the current market share.
The group that represents American record companies, awards gold and...
All of the following are owned by publicly held corporations except:
_______ is owned by a private equity firm and their only source of...
You are not allowed to sign a recording deal with one company and a...
______________ are individuals that book shows/tours for the artist...
Record labels provide _________ for: Recording, tour support, and...
Each major distribution company also has distributed labels throughout...
A _______ is any guest that plays on a recording who is not an artist...
A recoupable advance an artist receives from the record company that...
The three major components of a record company are: Distribution...
All four of the major labels are owned by publicly held corporations.
This is a means of a distinguishing the goods and services of one...
________ is media exposure or information disseminated through various...
________ is the group that puts on the Grammy Awards.
A _______ is necessary to retain ownership of something, such as...
_________ are the methods and activities employed to establish and...
A corporation or group engaged in the creation, production,...
Tour support is usually given to developing artists that don't earn a...
_________ are the study of population segments to identify...
Side artists are contracted to the record company.
Music sales and/or distribution based around the internet is known...
Strengths of major labels include all of the following except:
__________ are a fixed rate of 9-cents per song, paid to the...
The three major components of a record company are: Record labels,...
The service owned by the Nielson Company that collects and compiles...
The indie distributor for Sony is...
_______________ consist of many record labels. 
The traditional chain of music distribution is: Artist > Record...
_______ is the foundation and lifeblood of a record company. 
_____________ are a negotiated percentage paid to the...
Major record labels show a much wider variety of musical styles than...
The three major components of a record company are: Record labels,...
The indie distributor for EMI is...
NARAS stands for _____________.
The indie distributor for Universal is...
_____ holds 32% of the current market share.
Money an individual receives to cover daily living expenses while on...
The indie distributor for Warner is...
__% of all records released by major record labels lose money.
____ holds 20% of the current market share.
Independent Record Labels hold __% of the current market share. 
Any outlet that sells physical or digital forms of music such as...
The individual at a record company that finds talent and deals with...
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