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Record companies will generally increase royalty rates or give artistic freedom to get acts to re-sign contracts with them once the original deal has been fulfilled. Established acts may otherwise go where they see better opportunity. During 1980, Diana Ross released her album diana, which fulfilled her contract with Motown Records.
It is often used in recording industry contracts as a basic figure for defining royalty shares. [1] [2] Compare Suggested Retail List Price (SRLP).
For recoupment in terms of U.S. tax law, see equitable recoupment.. Recoupment, in the music industry, is when a record label pays for a musical artist's expenses, such as for recording and marketing, and later deducts an equal amount from the artist's royalties, [1] which are between 15 and 20 percent of sales revenue. [2]
'Typical royalties' are historically applied royalty rates. To understand the concept of 'typical royalties' one must infer that the term 'royalty' originally applied to the 'share of the proceeds' that the Crown demanded of its subjects for any exploitation of the assets owned by the Crown, for instance, mines, shipping lanes, geographic territories and the like.
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.
MECP is responsible for administering Ontario Regulation 153/04 which requires, under specific circumstances, a Record of Site Condition (RSC) to be submitted to the Ministry for acknowledgement. A RSC contains Environmental Site Assessments that ascertain the current condition of a site, including whether contamination exists on-site.
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In 2021, ASCAP collected over US$1.335 billion in revenue, distributed $1.254 billion in royalties to rights-holders, and maintained a registry of over 16 million works. [ 3 ] [ 4 ] ASCAP membership surpassed 900,000 and revenues exceeded $1.5 billion in 2022.