Music Business Finance for Entrepreneurs

Music Business Finance for Entrepreneurs breaks down finance into three digestible components: (1) determining and understanding financial calculations, both focused on the music industry in particular, as well as used more broadly across industries; (2) money, markets, and the music business; and (3) funding music. You will learn how to access money, take advantage of microfinance opportunities, and apply financial tools to assess the financial health of an enterprise. Topics include capital markets, startups, stocks and IPOs, cash flow, balance sheets, price elasticity, and exit strategies. We’ll also explore nontraditional forms of music funding, such as venture capital and crowdfunding opportunities like Kickstarter, PledgeMusic, and others. You will also learn about bonds, grants, business loans, financing in rounds, and more.

By the end of the course, you will be able to:

• Assess the role of venture capital for music entrepreneurs
• Assess the cash flow dynamics of music startups and evaluate a company’s cash flow statement
• Explain how to leverage the loan market for a music business
• Employ best practices and budgeting in crowdfunding
• Define equity in a music enterprise
• Use stock indicators to track publicly-traded music companies
• Understand bonds and use them in the music business
• Prepare a pitch for venture capitalists
• Apply the methodology of price elasticity to music goods
• Evaluate profit and loss statements
• Assess government funding and non-profit grants
• Plan entrepreneurial exit strategies

Syllabus

Lesson 1 Financial Calculations, Money Markets, and Crowdfunding

Lesson 2 The Compound Formula, Business Equity, and Crowdfunding II

Lesson 3 Money Growth, Stock Quants, and Crowdfunding III

Lesson 4 Payment Streams, Bonds, and Crowdfunding IV

Lesson 5 Present Value of Payment Streams, Bond Yields, and Crowdfunding V

Lesson 6 Net Present Value, Discount Rates, and Venture Capital

Lesson 7 IRR, Risk vs. Return, and Venture Capital II

Lesson 8 Business Loans, Investor Multiples, and Venture Capital III

Lesson 9 Owners’ Shares, Price Elasticity, and Venture Capital IV

Lesson 10 Accounting Profit, Variable Pricing, and Venture Capital V

Lesson 11 Assets and Liabilities, Business Reports, and Venture Capital VI

Lesson 12 Cash Flow, Off-Beat Funding, and Early Exits

Requirements

Proof of a Bachelor’s Degree

Proof of a bachelor’s degree is required to enroll in this non-degree, graduate-level course.

Required Textbooks

Investing 101: From Stocks and Bonds to ETFs and IPOs, an Essential Primer on Building a Profitable Portfolio by Michele Cagan, Adams

Venture Deals: Be Smarter Than Your Lawyer and Venture Capitalist, by Brad Feld and Jason Mendelson, John Wiley & Sons, Inc.

The Crowdfunding Bible, by Scott Steinberg (PDF)

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Software Requirements

Mac Users

• OS X 10.9 Mavericks or higher (click here for system requirements)
• Latest version of Google Chrome

Windows Users

• Windows 7 or higher (click here for system requirements)
• Latest version of Google Chrome

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Hardware Requirements

• Scientific or Financial Calculator
• 500 MB hard drive space
• Webcam
• Speakers or headphones
• Internet connection with at least 4 Mbps download speed (http://www.speedtest.net to verify or download the Speedtest by Ookla app from your mobile app store)

Instructors

Peter Alhadeff

Author

Peter Alhadeff, D.Phil., is a distinguished Oxford economist and historian who has a made his own unique and successful career in the U.S. music business. He has published and been engaged by the National Academy of Recording Arts and Sciences, the Harvard Berkman Center, the Latin Grammy, the InterAmerican Bank at the Di Tella Institute in Buenos Aires, and the Business and Economics Society International, for which he delivered the keynote address on the state of the music trade in Athens, Greece.

Peter is a pioneering educator with a practical bend. As a professor and founding faculty member of Music Business/Management at Berklee, he taught the first ever courses in math, music economics, and statistics. He also taught the first HTML and Javascript courses at Berklee. He works closely with his students, as well as faculty from inside and outside the college to produce The Music Business Journal at www.thembj.org. Digital Music News identified him as one of the most important attendees at Midem, Cannes, 2012.

Alhadeff is the past chair of the Music Entertainment and Educators’ Association’s international conference and founded the monthly trade Recording En Español and its successor Músico Pro, passing the editorial baton to his students. He has built a prolific writing record of more than one hundred music business articles that he says is fed by his experience in the classroom. Read Less

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Luiz Augusto Buff De Souza E Silva

Instructor

Luiz Augusto Buff de Souza e Silva is a Brazilian lawyer, with a masters degree in Entertainment, Media and Intellectual Property Law from UCLA School of Law, and a degree in Music Business and Management from Berklee College of Music. Luiz developed experience in the music industry both as a musician, and also working at companies such as Warner Bros. Studios, Ted Kurland Associates, Soundtrack Group, and consulting firm Digital Cowboys. Luiz was a Research Collaborator in the development of the Music Business Finance course and also co-wrote the article “Budgeting for Crowdfunding Rewards” with prof. Peter Alhadeff, published in the Music & Entertainment Industry Educators Association (MEIEA) Journal.

What’s Next?

When taken for credit, Music Business Finance for Entrepreneurs can be applied towards these associated programs:

Associated Certificate Program

• Music Business Entrepreneurship Graduate Certificate

Associated Degree Major

• Master’s Degree in Music Business

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