All You Need to Know About the Music Business: Fifth Edition

Universally regarded as the definitive and indispensable guide to the music industry and now in its fifth edition, "All You Need to Know About the Music Business" has undergone its most extensive overhaul to date. Veteran music lawyer Donald Passman sees a major change in the way record labels are doing business in response to today's numerous technological advances and uncertain post-boom economy. Anyone involved in the business is feeling the deep, far-reaching effects of these changes. This latest edition of what the "Los Angeles Times" called "the industry bible" will lead novices and experts alike through the fundamental practices as well as the new, uncharted territory of one of this country's most dynamic fields.

In the music business, the key to success lies in knowing how to protect yourself. To do that, you need the best and most up-to-date advice available. Whether you are -- or want to be -- a performer, writer, or executive, Passman's exhaustive guide to the legal and financial aspects of the music world is an essential tool. Drawing on his unique professional experience as one of the most trusted advisors in the industry, Passman offers authoritative, up-to-the-minute information. You'll learn how to:

Select and hire a winning team of advisors -- personal and business managers, agents, and attorneys -- and structure their commissions, percentages, and fees in a way that will protect you and maximize these relationships

Master the big picture and the finer points of record deals

Navigate the ins and outs of songwriting, music publishing, and copyrights

Maximize concert, touring, and merchandising deals

This latest edition alsoincludes information on:

Music downloads and streaming

How royalties are computed in the digital age

Why the record companies are hemorrhaging money

New laws of the electronic frontier, including copyright infringement, illegal downloads, and challenges to intellectual property rights

Industry strategies to combat piracy

The new model of record deals, in which the companies want to share in songwriting, touring, merchandising, etc.

In addition, there are updates on traditional industry matters such as royalties, advances, video budgets, and copyright law.

"All You Need to Know About the Music Business" shows you how, by investing a little bit of time in learning the business, you can reap huge benefits.