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ADVANCE

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1) Money paid up front (also called "front money") by one party (sometimes referred to as an "angel") to facilitate the career or business endeavor of another party, e.g., an investor fronts an artist money to record a demo. The advance is paid before any contractual considerations are delivered by the party receiving the advance. See Cross-links: ANGEL, RISK, SPECULATION, PRODUCER under "Executive Producer."

2) Money paid up front by one party to entice another party to sign a contract. For example, money received by an artist or songwriter to sign with a record company or to assign unpublished or reassign published compositions to a music publisher.

3) Money paid up front by a music publisher or performance rights society to a songwriter. The advance is against future royalties and is made only if/when a song has achieved chart success.

Advances may be either specific or general, and recoupable or non-recoupable. A specific advance is a recoupable advance that is recouped from a specific future income source, e.g., from a single musical composition. A general advance is a recoupable advance that is paid back from a general income source, e.g., from an entire music catalog. Specific and general advances may be either fully recoupable, partially recoupable, or non-recoupable. The amount of recouping may depend on the royalty return. If the royalty return is less than the advance or zero, full recoupment is not usually required. Advances specified as gifts are non-recoupable and no pay back is ever required.

Generally, artists and producers receive advances from record companies, songwriters' advances are received from music publishers, and music publishers sometimes receive advances from subpublishers, and print music licensees. Performance rights societies do not generally advance money to music publishers or songwriters. Mechanical rights licensors also do not advance money to their licensees, although there are exceptions-usually in emergency situations. See Cross-links: GUARANTEE, ROYALTY under "Artist Royalty," "Songwriter Royalty," RECORD COMPANY, CROSS-COLLATERALIZATION, BONUS, INCOME, CONTRACT-A CLOSER LOOK, CONTRACT-RECORDING CONTRACT clause #30, MUSIC PUBLISHER, CONTRACT-SONGWRITER/PUBLISHER CONTRACT clause #21.


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