Thursday, July 4, 2013
Music Business/Law Tips - "Joint Venture"
What is a joint venture? Its basically when 2 or more parties decide to work together on the launch of a new project and split the profits. A recent joint venture example that really explains how it works is between Warner Music Latina and Telemundo Media to promote Latin artists. Warner Latina and Telemundu have decided to work together to identify, sign and market new and established Latin talent. Warner will focus on the music side (i.e., picking songs and producing the records). Telemundo will promote the acts on its media platforms (i.e., TV and online). The partners will share equally in all related revenues, including record sales, touring and sponsorships. Ben McLane Esq benmclane.com