CHAPTER 10Recorded Music

CHAPTER OVERVIEW

In this chapter you will learn about the challenges and opportunities for recording companies in the digital age. You’ll examine the record industry’s failures and reflect upon lessons learned. Third Rail and other DIY artists are finding entrepreneurial ways to market and monetize their recorded music without a third-party record label. You will help them decide if DIY is a long-term strategy or something to pursue while they’re waiting to get signed.

KEY TERMS

  • Arbitron
  • Big Champagne
  • Cross-collateralization
  • DRM
  • Expanded (or 360) rights deal
  • IFPI
  • Independent labels
  • Joint venture
  • Loss leader
  • Major labels
  • Monetize
  • Nielsen Soundscan
  • Ownership vs. access
  • RIAA
  • TEA

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