ii. 6. 8. Register of Copyrights, Report to the House of Repre- RRNA Study. See Note 6. 9. See Note 3. In terms of real (1965) dollars, this has been a 43% decline. (Beginning songwriters, requiring little capital investment to pursue that line of work are like the small farmer of an earlier generation --apparently undeterred at least in the initial stages by an inequitably low return for their efforts.) 10. CBS Records president Goddard Lieberson in a May 1974 address in London, and RCA Records executive Chet Atkins in April 1965 both emphasized that "the song's the thing" without which the best artists, musicians and recording equipment and technicians cannot be successful. 11. Congress feared that the Aeolian piano roll company was seeking a monopoly by making exclusive contracts with most of the important proprietors of musical copyrights. It thus provided in the Copyright Act of 1909 that, once the copyright owner of a nondramatic musical work had exercised his exclusive right to license the mechanical reproduction of that work to one recording or piano roll company (or record it himself), any or all other companies had the right to purchase a license to make similar use of that work. Without some statutory ceiling on the royalty to be charged, Congress then decided, such a right was unworkable; and after considerable deliberation that ceiling was fixed by law at 2 per selection for each record or piano roll manufactured. Talking machines were new, and record prices varied widely in a range far below their present level. 12. 1969 Report on Mechanical Royalty Rate on Sound Recordings by Mr. Edward Knight of the Library of Congress Legislative Reference Service. 15. For a single, of course, the maximum increase would be 26. See Note 3. 18. See Prof. Glover's testimony, for example, on pp. 819, 19. The precise figure is $998,400,000, calculated as iii. 20. 21. Billboard 1967-68 International Record Survey, pp. 10-11 While much of the analysis contained in this statement relies cited in the text. See Mr. Davis's testimony, pp. 515-516, March 21, 1967 CLIVE, INSIDE THE BEST PI BUSINESS by Clive Davis with Jam tax. 22. See Note ). iv. 23. Billboard, March 9, 1974, p. 4. 24. Billboard, February 1, 1975, p. 3; See also Billboard, 'People talk about big hits in the movies... 25. Billboard, April 5, 1975, p. 4. 26. Billboard, July 6, 1974, p. 4. See Transcript of testimony In truth even this understates the record company's |