This course focuses on the accounting and quantitative tools of financial analysis that are used by busines professionals in corporate settings and investors. In the course, students look at finance in three ways: first, they discover how music companies record financial transactions in a booking system and calculate ratios of financial statements; second, they determine and understand financial calculations, both focused on the music industry in particular, as well as more general important overall business calculations; and third, they budget and fund music business ventures. Mastering these tools helps students analyze firms from a financial point of view and to measure ventures’ sustainability over the long-term. Students learn how to use financial analysis tools, both basic and sophisticated, to assess the potential of music enterprises, and create new businesses in the music industry.
Leadership is one of the fundamentals of success in today’s age, both on the personal and professional level, and this course is designed not only to help students learn the many facets of the global entertainment business world and leadership in theory, but also to master the skills and experiences necessary to turn them into effective leaders in their own right. Students have the opportunity to learn from real industry case studies, understand the organizational implications of quality leadership and global implications on a variety of levels, and participate in a diverse set of activities and assignments towards developing quality sensibilities and practices as thoughtful leaders in whatever endeavor they might choose to pursue. They study human behavior, internationalization, leadership and communication tactics, and other organizational elements combined with a thorough application of these principles towards building a solid understanding and integration of what makes true leaders in the modern entertainment world.
This course focuses on the practices, principles, and theories that guide marketing in the contemporary music industry. Students study best practices as applied by leading marketers today as well as the concepts and theories that knowingly or unknowingly guide these operations. Students explore music marketing as three overlapping areas: first, the development of an artist’s brand and imagery; second, an appreciation of the likely target market for this music and artist; and finally, the marketing and promotional campaign of the artist’s recorded music. Students also learn the necessary concepts, language, and tools of music marketing and gain insight into the more specialized marketing and promotional aspects studied in depth in MB-615 and MB-550, in addition to marketing theory and practice. Students will learn how marketing has a significant effect on the development and dissemination of music: by selling tickets, recorded music services, and products and is the key means of developing talent. This course is designed to explore a variety of perspectives and equip students for the challenges of exploiting, developing, and marketing music-related services and products in a global market.
No business like show business? This course offers an economic analysis of creative industries defined as industries that produce goods that provide artistic, cultural, or entertainment value for the consumer, including music, movie, television, sports, advertising, fashion, and video games. Students apply economic concepts to understand firms’ strategies as they evaluate, using economic reasoning, the latest trade and scholarly writings in the field. Students also analyze current events in world affairs thanks to classroom debates about controversial issues, and their effect on creative industries. Students also master tools and concepts that allow them to navigate these industries and anticipate emergent trends that shape business strategies.
Through this course, students will acquire a detailed understanding of music publishing beginning with the signing of a songwriter through to the exploitation of an administered work via a synchronization license. We will look at the basics of copyright and how a music publisher handles its works in order to best monetize its catalog through print, mechanicals, performance, and licensing.
Students will also complete a detailed study of the clearance process of synchronization and the language and terms included in licensing agreements for film, television, video games and other digital media. This course will provide a comprehensive look at music licensing from the point of view of the various departments within a music publisher as well as from a music supervisor’s perspective.
This course will review the use of music in popular and current film, TV and advertising projects to look at aesthetic, artist positioning, and the relationship between the value of a song, pricing and a production’s budget. Students will acquire the knowledge and skills needed to be a music supervisor; work at a film/television studio or advertising agency’s music department, an international music publishing company, or an online media distribution company; or to start their own music publisher.
“All humans are entrepreneurs not because they should start companies but because the will to create is encoded in human DNA.” (Hoffman, Casnocha, 2012). Today, the average person changes jobs 13 times during his or her career, and most people will explore diverse fields and industries. For this reason, it is now essential to develop an entrepreneurial mindset: being nimble, continuously reinventing yourself by recombining existing skills while developing new ones. Through this course, students develop an entrepreneurial approach to their careers and learn to apply design thinking (Brown, 2009) to imagine new business models in the field of music and entertainment. The course is structured into three sections: ideation, conceptualization and implementation. In the mindst of this creative journey, students go through the early stages of startup development: from the identification of new opportunities, conception of prototypes, collection of market data to the development of an innovative value proposition, business model and strategy, to respond to emerging needs of the market.
- Write a survey or conduct a focus group (e.g. Qualtrics, SurveyMonkey)
- Apply online databases and search engines (e.g. Google Alerts, Next Big Sound, BuzzAngle Pro, BMAT Vericast)
- Import metrics from social media (e.g. Facebook, Twitter) or streaming platforms (eg. Spotify Artist Insights)
- Sort important data and clean unuseful data by using spreadsheet software (e.g. Excel)
- Visualize statistical hypotheses (e.g. whatif function)
- Assess industry reports (e.g. PRS, BPI, CISAC, IFPI)
- Present and report the result of the analysis (e.g. graphs, maps)
- Communicate the results of the data analysis (e.g. infographics)
- Provide recommendations for business decisions (e.g. Tableau)
This course explores the multidimensional relationship between music and society and its evolution in the past 150 years. Students analyze the impact of a number of different technological innovations on that relationship. Students also examine changes in consumer tastes and consumption trends in different periods of time and the reasons that motivated those changes. Students explore the intersection between music and the media and how that relationship has adapted to technological changes. Finally, students evaluate the impact of music itself on individuals, as well as music’s cultural dimension and the role it has played at times in channelling certain societal changes. Through this course, students gain a better understanding of the central role that music has traditionally played in modern societies.
This course provides an integrated analysis of the structures, theories, and strategies of technology and how technology interacts with music. Because most successful companies in music are now based on robust technology platforms, an understanding of IT structures, APIs, app development, and data mining allows students to leverage such assets effectively. Students review the basic concepts behind contemporary information systems, how they can be developed, and how they could represent a key competitive asset for music perspective. They also evaluate innovative ways to implement new technologies for the distribution, recording and creation of music.
This is a seminar in which students learn interdisciplinary skills necessary to thrive in a fast-paced industry. Students explore the contemporary challenges that impact the music industry today, make predictions about future challenges, and work on solutions. Students meet with leaders and experts who will help them develop a global understanding of the industry. Students will also share in the responsibility for inviting guest presenters and organizing panel discussions with speakers of their choice, related to their professional goal.
As students complete their studies and transition to the professional world, it is important for them to assess and develop their short- and long-term goals, as well as to put in place an action plan to reach these goals. This plan requires students to reflect upon their unique proposition and to develop their personal brand. What will they offer the world and how do they develop and present that offering? Students learn to cultivate an active mindset and take responsibility for creating and pursuing opportunities for themselves. Through seminar-style discussions, peer group work, individual reflection and writing, role-playing, and individual mentoring and coaching, students come to understand their competitive value; to optimize their professional presentation; to identify their core values and explore how these values relate to their career choices; to define their strategies and next steps; and to develop as networkers, interviewers and professionals.
The online free-for-all approach in creative industries has destabilized payment models for music, movies or video games. This practicum enables students eager to test and develop emerging business ideas in the entertainment industry. To do so, students learn practical concepts, including market research, submission of business licensing application, location, organizational structure, financing, employee issues, project management and many other considerations. Students complete work that is extremely experiential in nature and based on the refinery and delivery of a business plan. Among other tasks, students complete a professional business plan at the end of the course.