Christian P. Pewitt Blogs

Tuesday, October 31, 2017

Mortgage rates today, October 31, plus lock recommendations

Mortgage rates today are driven by movements in financial markets worldwide. When the economy heats up, bond price drop, and rates increase. When the economy pulls back, interest rates tend to fall.

from Mortgage Rates, Mortgage News and Strategy : The Mortgage Reports http://ift.tt/2hqbfkU

WMG Relaunches Asylum Records In U.S.

Warner Music Group is relaunching its iconic Asylum Records label in the U.S. The new incarnation will be helmed by Kenny Weagly and Dante Ross.

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Warner Music Group has relaunched its iconic Asylum Records in the U.S. It will be helmed by long-time WMG executive Kenny Weagly as President and Grammy-winning producer Dante Ross has been named Senior Vice President, A&R.

The original Asylum Records was founded in 1971 by David Geffen and Elliot Roberts. In its first incarnation, it was the home to a new generation of singer-songwriters, including Jackson Browne, the Eagles, Joni Mitchell, and Linda Ronstadt. The label was reborn in 2004 as an urban music enclave in the U.S., signing notable hip-hop artists such as Waka Flocka Flame, Cam’ron, Gucci Mane, Paul Wall, Mike Jones, Bun B, and others. Asylum UK is currently home to Ed Sheeran, Charli XCX, Rudimental and Anne-Marie.

The new Asylum Records U.S. has already scored an RIAA certified platinum hit with “Water,” the viral track from the label’s first signing, rapper Ugly God. Expanding Asylum’s roster into the dance world, Crankdat has released his original solo debut “Dollars”. Since breaking onto the scene in 2015 with his viral remix of Fetty Wap’s “Trap Queen”, which has accrued more than 200 million streams, he has received immense support from artists like The Chainsmokers, Marshmello, DJ Snake, and many others.

The label has also inked deals with Mike Dean - the Grammy Award-winning producer behind artists like Kanye West, Travis Scott, Jay-Z and Desiigner - for his next protégé Dice Soho; The Queen of Bounce, New Orleans artist Big Freedia, whose vibrant twist on hip-hop has sparked collaborations with Beyoncé (“Formation”) and Sia (“Eye of the Needle”), as well as her hit reality TV series Big Freedia Bounces Back (Fuse); Baltimore rap duo, Peso Da Mafia, whose breakout track “Money Man” was featured on Complex’s “Bout to Blow” list; and Staten Island emcee, Shoneyin – whose debut single “Mozzy” was recently described as “addictive” by Pigeons & Planes.

“Asylum was founded with artistic freedom as its guiding principle,” said Weagly, “and the new Asylum expands on that ideal by believing in and supporting our artists’ visions for their music, as well as when and how they want to release it. Our mantra is nimbleness and flexibility – the ability to tailor-make deals, from singles projects to multi-album careers – for original artists across a spectrum of genres.”

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Where to buy: America’s most and least affordable big cities

if you;re looking for affordable big cities, you know it's a tough ask. But we've just made it a little easier with this list of most and least affordable big cities.

from Mortgage Rates, Mortgage News and Strategy : The Mortgage Reports http://ift.tt/2zl43kO

10 Most Popular Halloween Songs 2017

Nielsen Soundscan and Billboard have named the ten most popular Halloween songs of 2017. The list includes several perennial favorites along with some newer tracks. Here, countdown style, are the 10 Most Popular Halloween Songs 2017:

10 Most Popular Halloween Songs 2017

10. "Warewolves of London" - Warren Zevon

9. "Somebody's Watching Me" - Rockwell

8. " The Monster" - Eminem ft. Rihanna.

7. " Monster" - Skillet.

6. " Highway To Hell" - AC/DC.

5. " This Is Halloween" - Danny Elfman.

4. " Demons" - Imagine Dragons.

3. " Monster Mash" - Bobby "Boris" Pickett & The Crypt-Kickers.

2. " Ghostbusters" - Ray Parker Jr. 1.

" Thriller" - Michael Jackson.

(the full list)

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The Songwriter & Music Publisher Relationship Examined [PART 2]

In a follow up to part one of this series, Justin M. Jacobson outlines some of the standard clauses that one might typically see contained in a music publishing company's exclusive agreement with a songwriter.

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Guest post by Justin M. Jacobson, Esq. on the TuneCore Blog

[Editors Note: This is a guest blog written by Justin M. Jacobson, Esq. Read Part 1 of this series here. Justin is an entertainment and media attorney for The Jacobson Firm, P.C. in New York City. He also runs Label 55 and teaches music business at the Institute of Audio Research.]

We will now continue our examination of some of standard clauses contained in the music publishing company’s exclusive agreement with a songwriter.

Below is another clause included in a major publishing agreement.

ROYALTIES – Provided that Publisher has recouped any and all monies payable to Writer under this Agreement, Publisher shall pay to Writer the following royalties with respect to the exploitation of the Compositions:

(a) Mechanical Income – fifty percent (50%) of Publisher’s Net Receipts derived from the license of the Compositions.

(b) Synchronization Income – fifty percent (50%) of Publisher’s Net Receipts derived from the license of the Compositions for use in commercials and synchronized in audiovisual works.

(c) Print Income – fifty percent (50%) of Publisher’s Net Receipts derived from the licensing of the right to print, publish or sell printed editions or other printed reproductions of the Compositions.

As the paragraph heading states, the above language describes the royalty rate that the writer earns. It is important to note, similar to most agreements in the music industry; the music publisher must first recoup “any and all monies” already paid to the writer, such as advances or other costs or expenses incurred on behalf of the songwriter, prior to the songwriter earning any of the above listed royalties. This means that until the writer’s account is balanced, they will receive no additional funds from the publisher.

However, once the songwriter recoups the outstanding balance, they will begin to earn royalties based on the above listed percentages. For instance under the above language, the writer is entitled to fifty percent (50%) of the “mechanical income” (CDs, Downloads), fifty percent (50%) of the “synch income” (song used in motion picture or television show), and fifty percent (50%) of the print income (printed or digital sheet music).

The listed percentages are fairly standard and are applicable to most exclusive publishing deals. Nevertheless, it is prudent to at least attempt to negotiate for higher percentages or better provisions; ultimately, the publisher may not agree to any increase.

Writer warrants he is a writer member and publishing member in good standing of ASCAP, BMI or SESAC. In the event that Writer is in breach of Writer’s warranty of being a member in good standing of ASCAP, BMI or SESAC, Writer hereby warrants he will become a member in good standing of ASCAP, BMI or SESAC.

In addition to the above listed clauses, most standard publishing deals require the songwriter to be a member in good standing with their respective country’s P.R.O. This is typically due to the publisher requiring the P.R.O.’s assistance in collecting the public performance royalties due for the licensing of compositions. If a writer is not in good standing or is not a member of a P.R.O. at all, it could potentially cause issues in the publisher receiving payments, which they want to avoid. The above language helps obviate the issue by requiring that the songwriter warrant they are in good standing with their P.R.O. and will stay as such.

OPTION TO PURCHASE – In the event that Writer desires to grant, sell, license or otherwise transfer any right, title or interest in or to any of the Compositions, for a period of thirty (30) days, Writer hereby agrees to negotiate in good faith exclusively with Publisher, and to exert best efforts to reach an agreement with Publisher for Publisher’s acquisition of such rights in and to the Compositions. In the event that Publisher and Writer fail to finalize the terms of such agreement by the end of the thirty (30) day period, then Writer shall thereafter be free to negotiate with any third party for the sale, license or other transfer of such rights, but only on terms and conditions that are no less favorable to Writer than those last offered by Publisher. Furthermore, if Writer receives an offer from a third-party at any time (the “Third Party Offer”) to purchase all or any portion of Writer’s interest in the Compositions, or any one of them, and Writer desires to sell such interest, Writer agrees to first offer in writing to sell such interest to Publisher (the “First Offer”).

The First Offer must specify all of the terms and conditions of the Third Party Offer. In the event Publisher does not agree to match the First Offer within fifteen (15) days after Publisher’s receipt thereof, then Writer will have the right to accept the Third Party Offer. However, any sale to such third party must be consummated upon terms no less favorable to Publisher as those contained in the First Offer. If such sale is not so consummated, Writer will not sell all or any portion of Writer’s interest in the Composition(s) or any one of them without again offering such interest to Publisher as provided hereinabove.

One way a publishing company ensures that they can potentially retain rights to lucrative materials after the expiration of the agreement is through a right of first refusal or a “matching right.” As described above, a right of first refusal provides the publishing company with the option to purchase a composition and/or all of the compositions, if the writer is attempting to sell the rights to the material. This language provides the publisher with a proscribed time period (30 days) where the writer must present any third-party offer they receive for the material to the original publisher.

The publisher then has a specified time period (15 days) to either match the third-party offer or to pass. If the publisher matches the offer, then a deal will be finalized on those terms; however, if the publisher fails to match the third-party offer, the writer is free to enter into a new arrangement with the third-party on the same terms as those presented to the original publisher. The above specific language requires that the deal must be consummated no later than a specified period of time (15 days). If the deal with the third-party is not finalized by the end of this time period, the original publisher has an additional opportunity to purchase the composition(s) for the same terms as those offered by the third-party to the writer.

Since “publishing” money is one of the most lucrative and consistent streams of income in the music business and music publishers are the top facilitators of licensing in this space, it is prudent to fully understand how they function and the best way to approach them. Overall, most standard deals are negotiable and should be viewed as so.

This article is not intended as legal advice, as an attorney specializing in the field should be consulted. Some of the clauses have been condensed and/or edited for content purposes, so none of these clauses should be used verbatim nor do they act as any form of legal advice or counseling.

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