 |
|
|
|
Sell
Your Songs Here: SongConnect
Tip Sheet
Music Industry Form
Contracts
Join TMBIO Full Version Now!
~ You Get Over 1500 Music Business Topics with All Discussion
Cross-Links Hot!
|
|
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 For example, money received by an artist or songwriter to sign with a record company or to assign unpublished or reassign published compositions to a music publisher.
|
|
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.
(Must
Have TMBIO Full Version Password!)
|
|
.
© Copyright 
La Costa Music All Rights Reserved