All You Need To Know About The Music Business : 10th Edition by Donald S Passman
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All You Need to Know About the Music Business by veteran music lawyer Don Passman, referred to as the “industry bible,” has been updated to address the revolutionary impact of streaming on the music industry. This book, now in its tenth edition, has long been recognized as the definitive guide to the music industry.
In this latest edition, Passman guides both newcomers and seasoned professionals through the most significant change the music business has seen since the days of wax cylinders and piano rolls. The emergence of streaming has completely altered the way music is monetized. Rather than selling physical products, music is now monetized based on the number of times songs are streamed.
This shift has fundamentally changed the business ecosystem, and Passman meticulously explains the implications and intricacies in his comprehensive guide. From the advent of file-sharing technology to the rise of the iPod, the music industry has been on the cusp of a transformative moment. Streaming has finally brought about this long-anticipated change.
Passman’s guide provides invaluable and up-to-date information on various aspects of the music business, including selecting and hiring advisors, structuring commissions and fees, navigating record deals, understanding songwriting, publishing, and copyrights, maximizing concert and touring opportunities, securing merchandising deals, and adapting to the streaming world.
Adam Levine, lead singer and guitarist of Maroon 5, strongly recommends the book, stating, “If you want to be in music, you have to read this book.” With its track record of success, this updated edition of All You Need to Know About the Music Business is more essential than ever for musicians, songwriters, lawyers, agents, promoters, publishers, executives, and managers—anyone seeking to navigate the rapidly transforming music industry.
Music Business Revolution: Unveiling the Transformation and Challenges of the Industry in its 10th Edition
The 10th edition of my book, “All You Need to Know About the Music Industry,” represents the most comprehensive and significant update in its history. This is primarily because the music industry has undergone a radical transformation, unparalleled in its entire existence. In the early days of music, from the era of piano rolls to the advent of wax cylinders, the primary means of monetization was through the sale of physical copies.
However, this scenario has drastically changed with the rise of streaming platforms. Today, the monetization of music is primarily determined by the number of listens or streams an artist receives. Contrastingly, in the past, whether you listened to a record once or a thousand times, the artist would receive the same amount of compensation. This fundamental shift is further magnified by the realization that each listen an artist receives may come at the expense of another artist, as it is impossible to listen to multiple songs simultaneously.
Formerly, music consumers had the option to purchase multiple albums during a single store visit, thereby expanding the market for artists. However, with the transition to streaming, the available revenue pool is finite and distributed based on the number of plays an artist receives. Consequently, an increase in my plays and popularity would result in a decrease in your potential earnings, as we vie for a slice of this limited pie.
The music landscape has been completely transformed by these dynamics, particularly in terms of marketing strategies aimed at encouraging listening rather than purchasing. The latest edition of my book encompasses all of these game-changing developments in the music industry. To delve into this rich and rapidly-evolving subject, I highly encourage you to explore the new edition of “All You Need to Know About the Music Industry.”