Concert promo final
If a 4-member band is playing a venue that holds 1,000 people. And their fee deal is to receive a straight 50% of the ticket sales. How much money would they make at sellout if the tickets were $20.00 General Admission?
$10,000
You are a Promoter who booked a band to play in a 2500 capacity venue. The fee structure is $5000 plus 50% of the backend after the promoter's expenses. Tickets are $15.00 and you sold 2000 seats. How much money do you owe the band if your additional expenses (rent, advertising, catering, etc.) were $10,000? Show your work.
$15,000
Based upon the previous answer above, how much money did each of the 4-member band make (net) after paying their booking agent, business manager and personal manager commissions? {If the personal manager's commissions here are 10%}
$1875
List four specific artist rider-related expenses the concert buyer must consider in their budget projections.
1. Catering 2. Hotels 3. Security 4. Technical and/or production needs
What were the five main points of Promoting a concert?
1. Do research on artist's ticket selling history 2. Have a budget 3. Know the artist's audience, or demographics 4. Know your local media (costs, timing, etc.) 5. Look for ways to use publicity vs advertisements when available in order to save money
List four specific events or conditions that we talked about, that an Event Cancellation Policy will not cover.
1. Poor ticket sales 2. War (unless specifically noted) 3. Fraud 4. Non-appearance of the act
List the six primary revenue streams for concert venues.
1. Rent 2. House fees 3. Merchandise fees 4. Concessions 5. Parking fees 6. Sponsorships
List the four opportunities we talked about that an artist has to Make Money on the Road, and include a brief explanation as to where/how that money is generated. Be very specific according to what we discussed in class, and what was written in the notes.
1. Selling tickets - this money is generated by an artist selling tickets to consumers. An artist having fans is a very important thing, current popularity will not help you sell out a tour like long lasting fans will. 2. Selling tour merchandise - This money is generated at the shows when the people who attend buy the artist's merchandise. Bigger acts can make up to $100,000 in one night off just merch alone, so its a very important income stream for them while touring. 3. Getting sponsorship dollars - An artist can be sponsored by corporations, non-profit organizations, and/or small businesses. These companies would work with the artist to promote their product and pay them to do so while they tour. 4. Getting record label support - Record labels can give monetary support to their artist, which will help them provide for themselves, from living expenses to other things the artist can't afford while on tour. However, record label support is recoupable by the artist.
List the Concert Promoter's three major expenses in budgeting for a show.
1. Talent Fees 2. Advertising 3. Venue Rent
If in the Concert Touring area, it all starts with the Artist, list the FIVE key representatives of the Artist in this area, and write a brief description of each of their primary responsibility.
1. The Attorney: Their primary responsability is to read, draft, and evaluate all contracts for the artist, including the ones the sign with the manager and the record label. 2. The Artist Manager: Their responsability is to be the artist's primary advisor in all areas of their music career. 3. The Business Manager: Their responsability is to handle both the artist's personal and professional finances, including their budgets. 4. The Tour Manager: Their responsability for being in charge of everything, including all the artist's on the tour. They are responsible for taking care of the artist and everything and everyone who is dealing with the show. 5. The Booking Agent: Their responsability is to find live engagements for the artist to perform.
1. As discussed in class, explain the difference of primary responsibilities between a Responsible Agent (RA) and a Selling Agent (SA). 2. Who is the primary contact person for the RA? 3. Who is the primary contact person for the SA?
1. The primary responsability of a Responsible Agent (RA) is being responsible for signing the artist to the agency and developing a relationship with the Aritst manager. A Selling Agent (SA) is responsible for selling the show with the buyer and getting to know and trusting buyers in their area. 2. The primary contact person for the RA is artist manager. 3. The primary conact person for the SA is the buyers/promoters.
Name three specific things we talked about that can have an impact on a show's "sellable tickets."
1. The venue's size, or the capacity it holds. 2. The venue's set up, if the stage is round, has a catwalk, etc. 3. Production.
Define these four items and explain why they are important to keep in mind when considering the venue's role in the show: 1. venue personnel 2. venue operations 3. "above and beyond" basic operations 4. venue revenue stream
1. venue personnel - the venue management. This is important to keep in mind when considering the venue's roles in the show because you want to make sure you're working with profession people who can provide what the tour expects and what the fan expect, while also keeping everything safe and happy. 2. venue operations - what the venue's basic responsibilities are in terms of staging a concert. This is important to keep in mind when considering the venue's roles in the show because you want the venue's primary responsibility to be to provide a safe and user-friendly site with the appropriate acoustics for the artist to play their songs for fans. 3. "above and beyond" basic operations - what services a venue can offer artist and tours in order to gain a competitive edge. This is important to keep in mind when considering the venue's roles in the show because the venue's reputation is important, you want to make sure you put your artist in a venue that other artists have had good experiences with. 4. venue revenue stream - how venues make money. This is important to keep in mind when considering the venue's roles in the show because the venue still needs to make money in order to keep operating, however, you don't want the venue to rip you off with high merchandise and/or house fees.
Standard venue merchandising rate on CDs/albums for a large venue is usually what range
10-15%
You are the talent buyer for a 200-capacity club. You have made an offer for a band to play for $500 versus 50% of the net. The tickets are $15.00. Your expenses are $1,000. How much money would you make if the show sold out? Show your work.
15 x 200 = 3,000 3,000 - 1,000 = 2,000 2,000/2 = 1,000 1,000 > 500 Artist makes $1,000 and talent buyer also makes $1,000 after expenses.
Explain the difference between a show's Line Up and the Billing.
A Line Up is something that a festival or other Multi-Artists events would release that annouces who is confirmed to perform, this is not to be confused with billing, which reflects who's opening, who performing in the middle slot(s), and who's closing, or headlinging, the event.
Define what is meant by a P.O.P. Ticket? Give an example.
A P.O.P. ticket means a "pay one price" ticket, which would allow you admission to serveral different attractions. An example of this would be an admission to a fair, which would give ticketholders access to a nightly concert, rodeo, or live stock show.
Explain what is meant by the term "semi-soft" ticket venue, and name two of the ones we indicated as that type of venue.
A semi-soft ticket venue is one where some tickets are for specific events while other are for a series. PACs and Casinos can be semi-soft ticket venues
Explain the difference between a show's Gross Potential and the Net Potential.
A show's Gross Potential is the shows total gross income from all of the potential ticket sales. It's the ticket prices multiplied by the capacity of the venue at each price level. Net Potential is the Gross Potential after taxes have been cut.
As far as types of Business for an artist to set up, describe the difference between a Sole Proprietorship and an LLC. And indicate the primary difference we discussed between the two.
A sole proprietorship is when someone owns their own company. Therefore, they are personally liable for any damages that occur. An LLC is when a company owns the assets and risks. This is good because if an artist does something wrong, they will not be held personally liable. It essentially creates a legal shield.
What is the difference between a venue's total capacity and a venue's sellable seats?
A venue's total capacity includes how much people maximum can fit in the venue. Sellable seats include only the seats that can be purchased. This does not always correlate with the venue's capacity because there may be seats that are not sellable because they are "kills," which mean they aren't sold because they interfere with the show's production.
What do the initials for the industry union AFM stand for? Who do they represent? Your written answer must be fully correct to receive credit.
AFM stand for American Federation of Musicians. The AFM is a labor organization that represents individuals who are professionally active in the entertainment and the arts fields.
List the three main Performance Rights Organizations (PROs) we've mentioned in class.
ASCAP, BMI, SESAC
Define what a venue considers ancillary revenue. Then list three specificexamples.
Ancillary revenue is the additional revenue made by an event that isn't from ticket sales. This revenue can come from parking fees, concessions, and house fees.
Which type of insurance covers the promoter if an artist cancels the show due to an illness?
Artist Non-Appearance
Which type of insurance covers the promoter if the show has to be cancelled due to the breakdown of the truck, preventing the equipment and crew from arriving to the venue?
Artist Non-Appearance
Regarding the type of reports that a good booking agent will research while routing an artist's tour, define and describe the differences between the Artist Tour Histories and the Venue Priors.
Artist Tour Histories are lists that include box office reports for one selected act, dating back to when their information was first reported. Indifferently, Venue Priors are data from all shows presented in that venue for a specific period of time. Tour histories is focused on one artist at a venue, while venue priors are focused on multiple artist who have performed at that venue.
An offer is a written document that contains the basic deal points that the buyer has been talking to the booking agent about. What needs to happen before an offer becomes a fully-executed contract.
Before the offer form becomes a contract, the artist has to agree fully to the terms provided. Usually the offer form will go to the agent, who then shows the manager, and the manager will either accept or reject it acting on the artist's behalf. If the offer form is rejected, then a new offer form needs to be created.it is important to also note that the Buyer must also sign off on the final agreement if there have been any changes made by the artist management.
A _____________ is the person who represents the Artist for live performances and negotiates performance fees
Booking Agent
The ____________ is the person who negotiates offers and artist contracts on behalf of an event.
Buyer
A count of "ticket stubs" after an event, used to determine attendance, is a ______________________.
Drop Count
A Hard Ticket event is an event offering several forms and/or days of entertainment for one low-priced ticket. And an artist's payment is not connected to the number of tickets sold.
False, this soft ticket
Name four specific items that we discussed in class which would fall under the Force Majeure protection.
Fire, Flood, Earthquake, Tornado, Plague, War, Riots, etc.
Which one of these fee structures are best defined as the money an artist makes from a show, regardless of the number of tickets sold. VERSUS DEAL PLUS PERCENTAGE DEAL FLAT GUARANTEE DEAL STRAIGHT PERCENTAGE DEAL
Flat Guarantee Deal
Name the four Basic Fee Structures we discussed in class, AND give a brief description of each one.
Flat guarantee is when the act is paid a "flat" fee no matter how well the show sells. A straight percentage deal is when the artist makes a specific percentage of the ticket sales from the show. A guarantee plus a percentage deal is when the artist receives a guaranteed price in addition to a percentage from the door. Guarantee versus percentage is when artist receives either a fixed fee or a percentage of ticket sales, whichever is greater.
Which one of the following types of insurance offers the promoter financial protection in the event that a member of the audience, the tour, or the venue staff gets injured?
General liability
What do the initials GBOR stand for?
Gross Box Office Receipts.
Although the venue is responsible for having a license and paying the PROs for the public performance of a musical composition, what other license would they need if they wanted to record the live performance?
If they are recording the performance, they would need to obtain a mechanical license for the sound recording of the live performance!
If a venue indicates that their RENT is a variable expense, explain what that means to the Promoter.
It would mean the Promoter's cost would vary depending on the venue, it is not a fixed expense.
Define (with detail) what are Performance Rights Licenses?
Performance Rights Licenses are agreements that permit the artist to perform copyrighted protected music during the show. The cost of these licenses is determined by the size of the venue or possibly the nature of the event.
Which trade publication did we say that box office reports could be found?
Pollstar
A __________________ is the person who organizes everything related to the artist's equipment and stage needs while on the road.
Production Manager
Which one of the following industry people did we say assumes the greatest financial risks in concert touring?
Promoter
______________ is the person or company that finances and/or organizes an event.
Promoter
Contract verbiage for the Event and/or Event Representative who signs the Artist contract is the __________.
Purchaser
have to spend marketing the show, if it doesn't have the four Basics in place, which includes having the Right ___________, __________, __________, and _________.
Right Act, Right Place, Right Ticket Price, and All things being equal, with equal right to success.
Radio entrepreneur Robert Sillerman's first live entertainment company was called?
SFX Entertainment
Explain at least two reasons why we said that Club Venues were easy to route.
Short booking cycle is correct. They are always looking to fill dates; there are clubs for almost any type of genre, etc.
When budgeting for a tour, which fee structure did we say was the hardest to create a budget?
Straight percentage
What is the definition of the "Walkout Potential?"
The "Walkout potential" is the amount of money that the artist is expected to be able to receive. It is an estimated amount. To calculate this one would take the show's gross potential and then subtract out fees, expenses, etc.
Define what is Breakeven/Split Point.
The Breakeven/Split Point is the monetary point which all agreed upon event expenses have been covered by ticket sales and, sometimes, the point when the artist and the promoter begin to share the revenues of the event.
Explain, in detail, what the Force Majeure clause in a contract does for the Artist.
The Force Majeure is a protective clause that makes sure that the artist will still be paid in the event of inclement weather, a castatrophic event, or an "act of God." This clause willl excuse a party from a contract in the case of such event.
A band has agreed to a straight 50/50 percentage of the door. Tickets are $10.00 and the club has sold 150 tickets. The band has also sold $200 in merch in a 0% house rate venue. How much money did the band make this night?
The band made $950.
What is the primary difference between Advertising and Publicity?
The primary difference between Advertising and Publicity is that Advertising is paid form of marketing and Publicity is a free form of marketing.
What is the specific responsibilities of the PROs in concert touring?
The specific responsibilities of PROs in concert touring is to collect the fees for the licenses and distribute a portion to the songwriters and music publishers.
If a tour is a 3-artist package, and there is no co-billing, what is the term used to refer to the artist who performs in the middle slot? Your answer must be exact to receive full credit.
The term used to refer to the artist who performs in the middle slot during a 3-artist package is the support act. This is typically someone of the same value as the headliner, but who isn't strong enough to headline the same level of tour.
Who is ultimately responsible for obtaining a PRO license?
The venue is the one who is ultimately responsible for obtaining a PRO license.
If you are a talent buyer for a club, what are three sources of income you may have when doing a show, other than ticket sales?
Three sources of income you may have when doing a show other than ticket sales if you are a talent buyer for a club include parking, concessions, and merchandise.
Other than the artist's touring history, what are three other things we discussed that can have an impact on a show's ticket sales?
Three things that have an impact on the show's ticket sales are the economy, the strength of the market, and other traffic in the market.
A ___________ is a detailed report of the status of all event tickets at a specific time
Ticket Audit
The number of tickets "off the system" at a specific time is called what? Tickets "off the system" includes those sold, comped, killed, and on hold.
Ticket Count
A detailed report of all event tickets, including location and price (scaling) is called ______________
Ticket Manifest
Breach of contract means one of the parties to the agreement has failed to fulfill their promises stated in the agreement.
True
Force Majeure is defined as an unforeseeable event or occurrence preventing the fulfillment of an agreement.
True
If an artist receives Tour Support from their record label to go out on a tour, they are responsible for paying that money back to the label from their record sales.
True
The booking agent can commission the artist's tour sponsorship money.
True
Venues are responsible for paying a licensing fee to the Performance Rights Organizations whenever there is a live performance in their venue.
True
Explain the difference between when a Booking Agent is checking AVAILS versus HOLDS.
When a Booking Agent is checking Avails, they are researching the artist's availability to see if they would be eligible to play an event at a certain location on a specific date. When a Booking Agent is checking Holds, they are reserving tenative dates for a show on the venues event calander and on the artist's calendar. So, Avails is checking the Artist's availability for a show and Holds is booking the artist and venue for a show.
When a Concert Buyer is doing a concert, the most common reasons for a show losing money include ________________ or __________________.
When a Concert Buyer is doing a concert, the most common reasons for a show losing money include under-estimating expenses or over-estimating potential income.
Explain, in detail, the difference between when a Tour Manager is Advancing a show with a Buyer versus when the Tour Manager is Settling a show with a Buyer.
When a Tour Manager is advancing a show, they are negotiating production, catering, local ground transportation, day of show schedule, and more with the Buyer. When a Tour Manager is Settling a show, they are calculating the event's profit/loss with the buyer, and sometimes the artist's final payout.
When talking about touring, describe what it means when a promoter says their shows are cross-collateralized.
When a promoter says their shows are cross-collateralized, this means that if one show not the tour doesn't do well, the money will hopefully be made up by another more successful show. The final settlement is across multiple show, instead of per night.
What does it mean when an Agent checks the "traffic" in the market while routing a tour? Explain with details.
When an Agent checks the "traffic" in the market while routing a tour, they were checking to see if any other events are happening on the day they are planning to book the show. They do this to make sure the artist can get as many people at the show as possible without having to worry about something else conflicting with their event and taking away some of the crowd.
When we are talking about concert touring, explain (with detail) what it means when an agent is checking the "traffic" in the market while working on the routing of an artist's tour. Why is this important?
When an Agent checks the "traffic" in the market while routing a tour, they were checking to see if any other events are happening on the day they are planning to book the show. They do this to make sure the artist can get as many people at the show as possible without having to worry about something else conflicting with their event and taking away some of the crowd. This is important to make sure the artist will have the largest crowd possible.
What is the purpose of a universal rider, and give an example of when one is used?
When the artist is ap art of many acts on a bill, a universal rider (in house) is typically used. This is when the rider applies to all acts and they all have to agree to it. The purpose is so that the artist knows what the venue is offering and what is shared among artists as far as lighting, drum sets, etc. It helps keep all artists on the same page with the promoter.
Miguel is a videographer who works for a local venue. His employment with the venue is based on a verbal agreement. The venue asks Miguel to record audio and video of every show performed at the venue, edit the videos, and upload the videos to the venue's Facebook page. Miguel's Dad is a famous songwriter whose massive hit song "Let's Party" is frequently covered at the venue where Miguel records video. Miguel's Dad sees Miguel's videos from the venue online, including performances of "Let's Party", and tells Miguel to stop uploading the videos to the venue's Facebook page because it is infringing on his copyright in "Let's Party". Is Miguel's Dad correct?
Yes, Miguel's Dad is correct because the venue should have obtained a synchronization license from him before distributing Miguel's videos on its Facebook page.
In touring, it's not enough to book shows in the right market. You must also look for the right ___________________ and the right ____________________.
You must also look for the right venue and the right time.
You are the owner of a 250 capacity club. You've booked a band to play for $500 versus 50% of the door. Tickets are $10.00 and you sold 200. How much money do you owe the band?
You owe the band $1,000.
Give examples of buyers whose shows are most often a "soft ticket" concert event?
college buyer, club buyer, and fair buyers
Based upon the "industry standard" we talked about, in a Merchandise Deal, if there is no advance to the artist, then the artist does not receive any royalties from the merchandise sales.
false
In the case of the Inclement Weather clause, if the roads are closed due to a snow storm, and an artist is unable to get to the venue to perform, the Buyer can sue the artist for Breach of Contract.
false
The Artist Manager's commissions from touring come from the artist's NET income.
false
The Personal Manager can commission the artist's tour support.
false
The Tour Manager is the person who approves concert dates for the artist.
false
The Venue hall fee is based upon the artist's total ticket sales.
false
The age of the audience has no impact on the average dollar amount of merchandise the artist sells.
false
The personal manager of an established artist is responsible for settling the show with the promoter after the concert.
false
The Industry Standard commissions for an artist manager representing an established artist is 20 percent?
false, 10%
The Industry Standard commissions for an artist manager representing a new artist is 15 percent?
false, 20%
In the timing of Promotions, the Ad Date is the day the tickets go on sale to the general public.
false, Ad Date is announcement of the show, this is On-Sale Date
In a Performance Agreement, Indemnification means that the artist cannot be held responsible for compensating the venue for damages to the physical building.
false, Artist is responsible for compensating the Venue for injury or damage
Industry standard commissions for a booking agent is 15%.
false, agents are on salary and the agency commissions 10%
In larger venues, the person who is the liaison between the venue and the artists, agents, and promoters for concerts is the Marketing Director?
false, assistant general manager is
The tour manager is responsible for booking shows for the artist.
false, booking agent is
In larger venues, the Manager who deals with outside ticket companies, and runs the in-house ticketing operation, is the Operations Manager?
false, box office manager
The challenge with booking an artist at a church venue is that they only do soft ticket events.
false, can do hard tickets
One of the challenges with booking an artist at a club venue is that it's hard to route and requires booking months in advance.
false, easy to route
In larger venues the person who is responsible for dealing with the municipalities, sports teams, and other tenants, is the Assistant General Manager?
false, general manager is
The draw is the audience which can be identified through demographic research.
false, market appeal
In an standard contracts, a booking agent receives commissions on an artist's gross income generated from all three revenue streams.
false, only from live
A "Shed" is another name for an "Arena."
false, outdoor amphitheater
A radius clause in a performance agreement means that the buyer cannot promote another concert event within a certain radius of the artist's performance.
false, radius clause is limitations on where and when the Artist can perform before and after the date of the performance
Gross Potential is an event's total net income of ticket sales, after taxes.
false, that's net potential
If an artist has agreed to a straight percentage deal, that means they are going to receive a flat guarantee, no matter the ticket sells.
false, they are getting a percentage of ticket sales
In the case of the Cancellation Clause in a Performance Agreement, if an artist gets sick and is unable to perform their show, they are required to reimburse the Promoter for their expenses for the show.
false, they are not required
A Road Manager receives 5-10 percent commissions on the artist's life shows.
false, they don't receive commission
Comp tickets are seats that cannot be sold for a particular reason such as production, staging, or sight lines.
false, this is Kills
The process of reserving tentative dates on a venue's event calendar and reserving tentative dates on an Artist's calendar is called Checking Avails.
false, this is Placing Holds
Input list is the process used to determine that all microphones and other inputs are setup correctly, but without checking sound levels.
false, this is Soundcheck
The total amount of money an Artist receives as payment for a performance, including the guarantee and/or percentage and any overages or bonuses is called the Adjusted Gross Potential.
false, this is Walkout
An isolated date that doesn't route with any other date is called a Fly Date.
false, this is called One-Off
The booking agent is responsible for making the travel arrangements for the artist to and from the shows.
false, tour manager is
Tour Sponsorship dollars is money that the artist receives from their Record label to be used towards the tour.
false, tour support
When an Artist hires a Merchandising Company to handle their merchandise on tour, they then do not have to pay the individual venue merchandise fee since they are already paying the merchandising company.
false, yes they do
When budgeting for a tour, which fee structure did we say was the easiest to create a budget?
flat fee
Regarding the previous question above, what other license would the venue need to obtain if they wanted to air the live performance on television?
if they aired the live performance on television, they would need to obtain a sync license being that it is an audiovisual work!
Tour Sponsorships may come in many forms including:
marketing support, product ailment, naming rights
What is the ratio of ticket buyers to total merchandise sales.
per capita
When seats become unsellable due to sight line interference from the production.
ticket kills
A Business Manager's primary area of responsibility is handling the finances for the artist.
true
A Buyer who fails to provide the backline equipment outlined in the artist's rider can be held in Breach of Contract.
true
A Flat Fee is also called a Guarantee.
true
A Hard Ticket Event is typically where the main source of entertainment is the Artist's performance.
true
A National promoter is a buyer who promotes an entire tour, rather than individual shows.
true
A Territorial Agents (TA) is the person who sells an artist's tour to a promoter.
true
A challenge with booking State Fairs is that they are hard to route.
true
A radius clause not only limits the mileage within which an artist can perform another show, but also can limit the length of time within which they can perform in the same market.
true
An Artist can call for an audit of their Business Manager at any time.
true
Artists who perform at PACs typically get paid more money than their normal going rate?
true
As an artist gets more popular and plays larger venues, a general rule of merchandising is the larger the crowd, the lower the per cap.
true
Based upon the "industry standard" we talked about, in a Merchandise Deal, if the artist receives a large advance from the merchandising company, then their royalty rate from the company is lower.
true
Booking agencies are regulated by state laws and entertainment union
true
Casino shows (which utilize a high number of comp tickets), fundraisers, and private shows are considered Soft Ticket Events
true
Casinos are great venues where "semi-soft" tickets can be sold to concerts.
true
College venues are great placed for developing artists to perform.
true
Even if a Promoter has a radius clause on the artist's contract, the artist can still play a Corporate event in the same city.
true
Festival and Fairs are great venues to break new artists.
true
Genre is the term that describes a certain style of music.
true
Hard Ticket is an event to which tickets are sold to the general public and where final payment to the Headline Artist is directly related to how many tickets are sold.
true
Hard ticket talent buyers' primary goal is to sell tickets.
true
If an artist has agreed to play for a straight percentage deal, that means they are only going to receive a pre-determined percentage of the ticket sales.
true
If an artist has entered an arrangement with a merchandising company for their tour, and they have not recouped their advance payment by the end of the touring cycle, they can still terminate the deal by paying back the advance.
true
In Concert Promotions, Advertising and Publicity are both forms of Marketing.
true
In an standard contracts, a personal manager receives commissions on an artist's gross income generated from all three revenue streams.
true
In entertainment law, one of the ways an attorney gets paid is by being on retainer, which is when an attorney gets paid a certain fee every month, regardless of whether the artist needs them or not.
true
In entertainment law, the most common fee structure for the attorney is "billable hours?"
true
In fee structure, a "flat fee" means the artist is playing for one set fee.
true
In general, concertgoers under 21 and over 35 are more likely to spend more money on merchandise at shows.
true
In the Timing of Promotions, the Early Access date is when the tickets are available to fan club members.
true
In the case of a Cancellation Clause in the Performance Agreement, if a Buyer cancels a concert due to low ticket sales, the buyer must still pay the artist their fee and expenses.
true
Industry Standard commissions for a business manager is five percent of the GROSS income from the Artist.
true
Net Potential is defined as the Gross Potential after Tax.
true
One of the things a Booking Agent might take into consideration in selecting one venue over another for a tour is the strength of the venue's Marketing Department.
true
PACs are often supported by taxes, grants and donations.
true
Planning for a major artist's tour may start as much as one year in advance of the first date of the tour.
true
Production related expenses typically represent the largest portion of a tour's budget.
true
Scaling is the number of tickets at each different price level, based on the configuration and layout of the venue.
true
The Business Manager can commission the artist's tour merchandise money.
true
The Business Manager is the person responsible for paying everyone after a tour has played.
true
The FOH (front of house) is the area where sound and lighting boards are located, normally within 100 feet of center stage.
true
The Responsible Agent is the person who is the liaison between the manager and the agency.
true
The Venue merchandise fee is based upon the artist's gross merchandise sales.
true
The industry standard number of years of the Artist and Booking Agency contract is three years.
true
The net earnings an artist makes from a concert date is the amount of money the artist has left over after all of their taxes, commissions, and expenses have been paid.
true
The primary responsibility of a booking agent is to secure employment opportunities for the artist.
true
The protective clause of a performance agreement that helps assure an Artist will be paid in the event of inclement weather, a catastrophic event, or an "act of God" is called Force Majeure.
true
Value billing is when the attorney charges a flat fee based on the value of the deal being negotiated.
true
When a concert buyer books an artist, they are agreeing to be responsible for marketing and promoting their show.
true
Based upon the definition, which one of the following items would not likely be considered a Deal Point. security needs transportation artist's fee location of the venue
vocation of venue