ACM was pleased to welcome Music Industry Executive Eric Longley to joined the ACM Guildford Odeon Lecture series on Friday 22nd November and who delivered two special seminar session entitled ‘Demo to Limo’.
Seminar Overview – Demo to Limo
The seminar covered the early days of getting a group together, how to avoid some classic errors which have very important consequences for performers later on in their recording and performing career, for example how to avoid a Morrissey v Smiths court case.
The seminar looked at how performers (including producers and engineers) can set themselves up to minimise their tax costs all legal, honest and decent, cover the various royalty income streams and how the unwary artist can have their royalty pockets picked by unscrupulous third parties as well as how to deal with merchandise to maximise the income flow over the net and on tour, not least the thorny issue of what happens when performers tour other countries.
In addition, the session also dealt with disgruntled partners leaving and the financial consequences – the history of rock music is littered with bitter feuds between ex members of the same band and the Seminar will cover some preventative measures that will save costs later. Playing in the USA, it’s not just the muggers on Times Square you need to be aware of but also the need to keep in with the IRS (remember they busted Al Capone for tax fraud not for bootlegging).
Finally the Seminar provided a broad overview of a developing artist becoming successful and the changing business needs that attach to popular success.
“I have no need for bodyguards but I do have a need for a good accountant.”
Eric Longley Quoting Elvis Presley
About Eric Longley
Eric Longley was for a while the managing director or one of UKs most iconic independent record labels, Factory Records. In addition to this Eric managed a number of indie band including John Robb’s Gold Blade and The New Fast Automatic Daffodils amongst others. As a penance Eric also managed a boy band for Sony Records an experience he says taught him a lot about marketing and promotion. Still heavily involved in music industry as the Director of Taxation at Prager and Fenton an international accounting firm specialising in the music and film industry Eric still goes to see unknown bands play and works with a number of record producers dealing with new talent. An interesting speaker full of insights into the business practices of the industry Eric is one of the few individuals able to talk from both a creative and business experience.