Artist Management Test 1 – Rush Hicks, Dwayne O’Brien (Belmont U)

RIAA
Recording Industry Association of America
If the Artist is the corporation, the Artist Manager is the ____
CEO
T or F: California prohibits a manager from being a booking agent
True
T or F: It’s a good idea to have your record producer or publisher also be your personal manager
False
What is the lifeblood of the music industry?
Finding, developing, and exploiting talent.
Limited management involves engaging the services of a person other than the (1)___ to provide certain specific (2)___ services. The (3)___ performs all other management functions not delegated to the (4)___.
(1) artist, (2) management. (3) artist, (4) manager.
T or F: The greatest disadvantage of self-management is that many artists simply don’t have the experience and expertise needed to manage their own careers effectively.
True
Total management involves an (1) ___ or (2) ____ that is completely involved in the creative and business development and maintenance of artists’ career
(1) individual, (2) management firm
If an artist is serious about a career in the music business, they should probably move to a music center such as ___, ___, ___, ___, or ___.
Nashville, Los Angeles, Miami, Atlanta, or New York.
An artist’s promotional package should include a (1) ___, (2) ___, (3) ___, and a (4) ___ of two or three of your best (5) ____.
(1) photograph, (2) brief biography, (3) press clippings, and a (4) professional demo, (5) songs.
What is probably the most critical factor in determining a potential manager’s credentials?
Reputation in the industry
What commission range do managers usually charge of the artist’s gross earnings?
15% – 25%
T or F: Artists will always insist on paying managers from their gross revenue, but managers should always insist on being paid from net revenue.
False
What is it called when an artist’s manager is paid a commission on the artist’s gross earnings while also receiving other income from the artist?
Double dipping
AFTRA stands for what and represents who?
The American Federation of Television and Radio Artists. They represent singers.
AFM stands for what and represents who?
The American Federation of Musicians. They represent musicians.
T or F: A manager should know the artist’s career history and financial condition, professionally and personally.
True
What is a good training ground for personal managers?
Being a road manager for a national act.
Artist management consists of anything that will further an artist’s ___.
Career
T or F: An artist’s talent alone is never enough
True
A strong artist-manager relationship is similar to a good ___.
Marriage
Is compatibility between the artist and manager important?
Yes
What is the intangible quality of an artist that separates stars from talents called?
Belief
T or F: The manager should be expected to make loans to the artist.
False
What is the word for that exceptional “star” quality generated by an individual that makes him or her stand out in a crowd?
Charisma
T or F: An escalating manager’s commission percentage goes up as the artist’s gross earnings increase or could just as easily decrease if the artist’s earnings increase.
True
A good artist manager probably has some experience in (1) ___, (2) ___, (3) ___, (4) ___, (5) ____, (6) ___, or (7) ___.
(1) management, (2) booking, (3) recording, (4) engineering, (5) producing, (6) music publishing, or (7) public relations
How does an artist manager succeed in the music business?
Through contacts, an insight into the industry, and by opening doors and making sure the artist is ready to step through them.
An accountant should file the necessary ___ and ___ tax returns on behalf of the artist.
state and federal
Is a manager probably also a publicist, graphics specialist, choreographer, recording engineer, studio musician, sideman, or songwriting partner?
Nope
What is a sole proprietorship?
A business conducted by one individual who is the sole owner.
Does a sole proprietorship require contracts?
No
Is a sole proprietorship required to provide worker’s compensation insurance?
It may be.
What is a partnership?
An association of two or more persons conducting a business on a continuing basis as co-owners for profit.
Is a corporation a separate, legal entity recognized by state law?
Yes
How is a corporation governed?
By a board of directors
Who selects the managing officers in a corporation?
The board of directors
What do you have to file to start a corporation?
A charter, sometimes called articles of incorporation
What are the laws called that govern the operation of the corporation?
Bylaws
What is the governing document of an LLC called?
Operating Agreement
How are LLCs treated for tax purposes?
As partnerships
What does a buy-sell agreement specify?
How death or withdrawal of a member is handled so that the entity continues to exist without disruption.
What does an artist’s agent do?
Represents the artist in negotiations and deal making
What does the Initial Exploratory Conference allow?
It allows the parties to determine if their goals match up and whether or not they should go ahead with the business relationship.
Sound, material, physical appearance, image/branding, musical history, other significant areas, and charisma are contained within the ___.
Creative inventory