Hacked was young, she always dreamed of having her own independent music publishing company. With such successful companies like MI and Sony, she realized that she wouldn’t be content being just another employee, she want be the employer. With her growing knowledge on music publishing, she believes that she is ready to launch my own independent music publishing company called Goldenrod Music along with the help of her business partner, Allan Breach.
Below is the step-by-step on how they plan to make Goldenrod Music a successful music publishing company by touching on subjects such as the business Truckee, financing and funding, personnel,roles and departments, 1 . Business Structure: Goldenrod Music will be run as a partnership between Rachel Hacked and Allan Breach. The location of the Goldenrod Music office will be in New York City in the Financial district on Ceded Street. Within this office they will have four main departments and have approximately thirty to forty employees.
In order to start Goldenrod Music, Rachel Hacked and Allan Breach must file Goldenrod Music to their local government offices to obtain a business permit (in this case NYC City Hall) (McCoy). Goldenrod Music then will apply to a performance rights organization of their choice, which will most likely be ASAP (since the company is located in the United States), by submitting an application and fee of about $35. The application can be found at http://www. ASAP. Com/Jolt/. D 2. Financing and Funding: Goldenrod Music plans on being funded without loans or grants, since interest fees are on the rise.
Rachel Hacked and Allan Breach plan on using the money from their trust funds to pay for the business’ start up costs. The cost for renting the office space Is $1 ,250 a month. Other start-up expenses not Included In the rent are furnishing, supplies, paying staff, taxes, applying for a performance rights organization(ASAP in this case), legal fees, demo costs, promotion, etc. ;elf Goldenrod Music does not generate enough income for Hacked and Breach to breakable, then they will look into adding a backer that will receive half or what Hacked and Breach will make. . Personnel,Roles and Departments: Goldenrod Music plans on having four different departments. The first key department is the A&R/ Creative/ Promotion department. The Job description includes this worker to find new songwriting talent by listening to demos, going to shows, word of mouth from other key players in the industry that they trust ,etc. This company. In order to keep a fresh and current catalog with potentially big money making hits, Goldenrod Music will need to have the best up and coming songwriters at all times.
Other Jobs within the department include matching up songwriters or composers with lyricists if needed and to get the songs used in as many different dentures as possible through record companies, performers and broadcasters. Printer)goldenrod Music will generally work with bands where one or more members is the songwriter to the band, however, in the case we sign a songwriter to Goldenrod Music, this department with try to get that songwriters work to be used by major artists.
This department can also set up songwriters and lyricists together, preferably ones both signed to Goldenrod Music so the split up of royalties will be easier. 0 Another department that would be part of Goldenrod Music is accounts and royalties department. This department is essential for Goldenrod Music to have because it handles the income as well as distribution of money. Accounts and royalties will take care of number crunching, keeping track of song usage to collect royalties and handle all monies owed.
If songwriters want their work to be expanded to other forms of media, then this department would be in contact with the accounts departments of record labels, TV, film and advertising companies. Lastly, accounts and royalties will be in charge of dealing with PROS and AMPS. O Another essential department that Goldenrod Music plans on having is the copyright/ legal department. This department will be in charge of writing agreements between the publisher and Miters. For an explanation on Goldenrod’s publisher-songwriter contract please go to the Legal section.
This department will also handle licensing and synchronization, registering new works to PROS and AMPS, dealing with copyright infringement by taking legal action, and anything else relating to legal or copyright issues. 0 Another department that would be part of Goldenrod Music is a social media department. This will only have a few employees, however, is an important part of the company. With many consumers using the Internet as ways to find and download new music, Goldenrod Music finds it would be important to showcase online recorded Narks from its catalog.
More on this topic can be found in the Technology section. Goldenrod Music would also hire several song plungers to get unrecorded songs on Goldenrod Music’s catalog recorded. Other staff personnel will include assistants, receptionists and interns. 0 4. Strategy and Services- including details on opportunities, threats and trading partners: Publishers at Goldenrod Music will be a threat to other current publishers. Chosen for having a well rounded resume and a university education, publishers are Goldenrod will have top notch experience for this new company. Publishers at
Goldenrod Music will specialize in A&R to help bring a full catalog of new up and coming songwriters. They will also strive to find new media outlets to connect the songwriters music with as many people as possible. Publishers will be push their Goldenrod Music will offer three main services for our clients. One service they offer is Creative Services. Goldenrod Music’s creative service will help bring together different songwriters on the growing catalog to help expand the songwriters abilities to their fullest potentials. Another service they offer is administration services which
Nail handle the different areas of revenue possibly available for the songwriters work. Along with recording Peps and Lips, Goldenrod Music will produce demo’s for up and coming songwriters without record deals. Goldenrod Music believes that demos are essential for songwriters looking to be signed. For these songwriters, Goldenrod suggests that typically the demo will run about three to four songs. These demos will be protected with copyrights and will not be for sale. Income for Goldenrod’s songwriters will be collected through mechanical royalties, synchronization royalties, print royalties, performance royalties.
Mechanical royalties allows a record company or any other party the right to record or reproduce one of the songwriters works. Songwriters are paid for every record the record company manufactures and distributes that is sold. In the U. K, the AMPS sets the price for how much the songwriter will make per song, but in the U. S the rate is based on a fixed rate either at the full statutory rate or as a reduced percentage of the statutory rate. Composition clauses are now currently 75% of the fixed rate. The AMPS normally Issues mechanical licenses for publishers.
Income from mechanical royalties will be plait 50/50 between the publisher and the songwriter. Performance royalties or public performance rights are paid to the songwriter and publisher when others seek to play the song on the radio, in venues, on television, at live concerts,etc. ASAP(the US version of PROS ), since given the right to license performing rights to all of Goldenrod Music’s songwriters, will make deals with Never wants to use the songs in their media outlet ,collect the fees owed, then divide up the pay between the songwriter and publisher.
Anyone who wants to use songs from Goldenrod Music’s songwriters will have to pay a blanket license, which oversee all works from Goldenrod Music’s catalog as well as any other publishing companies under ASAP. The Broadcast Data Service will be used to keep track of songwriter’s work on the radio. ASAP will pay the songwriters directly( peg 251 ,Pajamas), Synchronization royalties allow the usage of works in visual media outlets like commercials, television, movies, computer games, etc. Income from these types of royalties range depending on where the work of the songwriter is being used.
With major motion pictures, the income generated depends on where in the movie the song is being used. Songs used in the main title normally range between$50,OHO to $250,000, in ending credits between $35,000 to $100,000, and out of context usage of the songwriters song( using the song differently then used in films) generate anywhere between $25,000 to $250,000. Instrumental cues in movies will get around Income, however in the US it is completely different. Income from television in the US runs typically depending on if the work is unknown or super popular.
Songs in commercials can range anywhere between $50,000 to $200,000 for one-year national usage in the United States( peg 262 All You Need to Know About The Music Business. ) For video/computer games, songwriters get paid a flat fee for the song usage which is generally from$8,OHO to $10,000. The only video games that pay royalties are in music-based games such as Dance Dance Revolution, Rock Band or Guitar Hero. Print music royalties are paid from the sheet music’s manufacturer to the songwriter for each unit sold.
In the I-J, royalty for single-song sheet music ranges between 10%-15% while in the US the standard rate is 20% for single sheet music and 10% to 12. 5% for folios (songbooks). As an up and coming music publishing company, Goldenrod Music would have he fresh start opportunity. We have are not in debt, not being sued and not currently trying to be bought out by a larger company. Being a new partnership allows Goldenrod Music to build from the ground up a modern catalog, and will hopefully become a threat to current giants in music publishing.
Along with having a ‘clean slate” comes the opportunity to network without having a bad record against the company. There is opportunity to learn about the changing music industry and adapt with it. Goldenrod Music, being located in New York City, also has many opportunities to meet with many songwriters from New York City and elsewhere. New fork City is home to many different record labels, word renowned recording studios, and fresh talent. One threat that Goldenrod Music will have to overcome is other established publishing companies.
Songwriters who are looking to put their trust into someone to get their songs published, recorded and eventually make them money, seek out publishers with experience. Although Goldenrod Music has a lot to offer, songwriters may look to music publishing companies with a good track record. In order to get over this phase, Goldenrod Music will have to “break the ice” with signing a successful engineer to show other songwriters we are a trustworthy company. Goldenrod Music’s main customers are songwriters who are also established artists.
Goldenrod Music doesn’t focus primarily on mainstream artists, but at the same time strives to get songs on the catalog into as many different media outlets as possible. Goldenrod Music looks to sign songwriter/musicians who are willing to collaborate with other artists and lore put their works in other forms of media than lust purely music. Songwriters/ artists on Goldenrod Music’s current catalog include Sonny Moore/ Shriller, EH! 3, Andy Samsung, This Love, Nick Mina] and Kina Grannies. Goldenrod’s account department will collect revenue from all outlets the song is used.
All songwriters will be paid their royalties at different times depending on what 7. Legal When it comes to contracts, Goldenrod Music will try to construct a contract that is both suitable for the songwriter/composer as well as the publisher. Goldenrod Music Nail offer two different contracts. To new songwriters not looking to go mainstream Ninth their music, they will be issued the co-publishing agreement. This is where the songwriter receives 50% of income listed and the publisher receives the other 50%. Goldenrod would also offer an exclusive writer deal to songwriters with a history of making hits.
This is where they would control the entire output of works of the songwriter under the Term, promising exclusivity to Goldenrod Music. Songwriters Math Goldenrod will not share monies collected from performance royalties. In this contract, Goldenrod Music will seek the exclusive rights to all original musical compositions and copyrights (which includes the copyright registration and protection) from the songwriter. The transfer of these copyrights allow Goldenrod Music to reproduce the work, distribute copies of work, have work performed publicly, and make a derivative of work.
Performances of the songwriters work are allowed in all forms of media, whether for a profit or nonprofit(Exclusive Songwriter Agreement). Goldenrod Music will be allowed to make master recordings of all works of the publisher. In return, Goldenrod Music will protect all works from any copyright infringement from another songwriter/composer/publisher by getting all works a copyright notice. If there is an issue with copyright infringement, Goldenrod Music will get an injunction and try to either get the fair market value, recover the infringer profits, or cover statutory damages.
The fair market value is if the song is worth a certain amount and is stolen from the songwriter, then the songwriter will receive that exact amount of money that the song is worth. If Goldenrod Music seeks to recover the infringer profit then Goldenrod can recover all the infringer profits. If Goldenrod chooses to recover statutory damages then if won, the court will reward Goldenrod Ninth money for damages. 3. IT/ Digital: The developments in the digital world may seem like a struggle to some companies, however Goldenrod Music plans to use it to their advantage. Goldenrod
Music set up a youth account where they would allow “Ad-World” to have ads on their videos, which will generate income overtime the video for that songwriter is played. Also, Youth’s Content ID system allows the songs copyright holders to receive profit from any infringement use of their songs(Van Buskins) Goldenrod Music will use social media outlets to its advantage. Social media sites include but are not limited to Twitter, Backbone, Namespace, Prologue and more to department, their employee’s will find ways to get Goldenrod’s songwriters work exposed through music blobs, both known and unknown.