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e. Å:... al Bilibrar! Surveys; Record World, Jure 7, 1975

Sources - Summary Table

(1) Consumer Price Index (CPI) for July 1975, U.S. Department of Labor. (2) The value for 1975 was obtained by multiplying 2.5¢ by 0.582, the ratio of the CPI for 1965 to the CPI for July 1975. (3) The value for 1975 was obtained by multiplying 2.5¢ by 1.717, the ratio of the CPI for July 1975 to the CPI for 1965. (4) For current dollar figure, survey by Robert R. Nathan Associates of royalty payments made through the Harry Fox Agency in the fourth quarter of 1974. This survey covered the sale of 145 million recorded songs. The 1965 figure is based on a similar survey for the second quarter of 1965, which covered 32 million songs. The 1975 survey included the twenty largest publishers for each of the three largest record companies. The value for 1975 in 1965 dollars was obtained by multiplying 1.620 by 0.012, the ratio of the average CPI for the second quarter of 1965 to the average CPI for the fourth quarter of 1974. (5) Contract scale of American Federation of Musicians (Local 892, New York). (6) As reported by the Federal Pay Advisory Commission. (7) Prices of the top 200 best selling albums as reported in Billboard, the industry trade journal, for May 5, 1965, and January 4, 1975. It should be noted that the price of a typical tape in January 1975 was $7.98. Tapes account for about 30 percent of the total sales of all recordings, thus the average price per recording is more than $7.25. (8) Based on a count of songs on the best selling albums listed in Billboard. (9) Column (7) divided by column (8). (10) 2.5¢ divided by column (9). (11) Values are for 1964 and 1974. For 1974: Record World, June 7, 1975, page 3. For 1964: Billboard 1972-73 International Music-Record Directory, page 9. (12) Values are for 1964 and 1974. As stated by the Recording I:.dustry Association of America in material submitted to Congress. RIAA also alleges that royalty Fryments totalled $77.1 million in 1971. However, it a sears that the RIAA data over state total royalty payments for the following reasons:

a) In the 1974-75 International Music-Record Directory. B2: Dard made the following estimates for 1973:

242 million record alting and tapes sold

193 milion single reis sold
With 10 songs per albir ortae, 2 songs per single record, and
raxinum royaity of 20 per Sony:

$58.4 aillion maxim royalties on albums and tapes
$ . .isun ax.-.- !!.$ en sinile rens

5.5.1 iii. ix. Pojallal's
This even if all r! Alties were paid at the ceiling rate (which
they are not, as s!. T. it's i 41,, total payments couid not have

munted to more than $66.1 million in 1973, or $11 million less a PIM figure.

in their news release about 1974 sales (Record World,

1975the RIAA indicated that the total dollar volume of terw sales rose by more than 9 percent in 1974, but that the ..er of units sold derreysed as a result of the sharp rise in feirices. Because royalties depend on the number of units .., salt on the total dollar volume, total royalty payments

have fallen in 1974, not risen by 8.3 percent as alleged by : RiM. The data for 1974 show the obvious fallacy in the RIMA a hent that composers and publishers have benefitted greatly I'm the increase in the dollar volume of record and tape sales.

of this increase, especially in recent years, has been the test of higher prices, not of an increase in the number of

.wla. il mine author, composer, and lyricist dues-paying, workp

menbershs of American Society of Composers, Authors, &" widters (ASAP) and Broadcast Music Incorporated (BMI), on. :-** tu, 1965 and June 24, 1975. 26 P the values in current dollars, column (11) multiplied by

2012divided by column (13). The value for 1975 in 1965 wears was obtained by multiplying $2,362 by 0.582, as in (2). 33 Par 2.56 in 1965, from column (10). For 4.00 in 1975, *28. set by multiplying 46 by 10 (songs per album), and dividing - $6.98. 24 Pix 4.06 in 1975, obtained by multiplying 4¢ by 0.582, as in

., 156 divided by $6.98.
:: 15€ divided by $3.00 ($6.98 minus $3.98).

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