Mba In Marketing Is About Creating Exchange

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Generally we know that marketing is the process of planning and executingthe conception, pricing, promotion, and distribution of ideas, goods andservices to create exchange and satisfy individual and organizationalobjectives. So this definition agrees that marketing is a management process,and that it is about satisfying individual objectives: it also introduces theidea that online MBA in marketing is about creating exchange, and that itis about competitors, but neither of the foregoing definitions addressthis. Companies and other organizations might do an excellent job ofmeeting customer needs at a fair price, but still fail simply because othercompanies offer even better products or even better prices- or, more confusingstill, might offer a product which is actually worse and more expensive, but isoffered at a more convenient location or time.

In MBA we learn that the primary reason that accuracy is the most oftenmeasured dimension of sales forecasting performance is that it is the moststraightforward. The dimensions of costs and customer service have less directrelationship with forecasting, are not as easily quantified. Because theambiguity of these relationships varies by company, it is not possible to putforward such universal measures of these dimensions of sales forecastingperformance as we can in the dimension of accuracy. Rather, we need to discussthe impact that sales forecasting has on both cost and customer service andleave the development of company-specific metrics to individual companies.

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Management cost:- The cost of managing the sales forecasting functioninvolve the fixed and variable expenses associated with staffing the function,training the personnel involved in developing and using the sales forecasts,and providing the computer systems necessary for maintaining the relevant data,analyzing that data, and communicating the resultant information. In correspondenceMBA courses we know also about the low cost of the product and the factthat it represented a small cost. Although improved forecasting accuracy oftenhas a profound impact upon corporate profit and shareholder value, it is seldompresented as such to upper management.

Given this reality of business management, what is the most effective way todemonstrate the impact of improved sales forecasting performance? Online MBA courses makesable marketing managers to determine what is unique about their organizationand use it to their advantage. They conduct research about what similar organizationare doing to help develop the angle they want to pursue. Additionally, theydecide to whom they should be marketing- the general public, corporations, orspecific groups. They also work to identify new markets, finding untappedgroups for new membership bases, fund-raising opportunities, corporatesponsorships, program participation, partnership, and more.

Cyprus and Malta adopt the euro

Tuesday, January 1, 2008

Today at midnight, the Republic of Cyprus and the Republic of Malta, both small island states in the Mediterranean and former British colonies, adopted the euro as their official currency; less than four years after their accession to the European Union. Because Cyprus and Malta are in different time zones, Cyprus adopted the euro one hour before Malta did the same. In both countries the euro was welcomed with outdoor celebrations, including a fireworks display in Malta’s capital Valletta. According to the BBC Cypriot Finance Minister Michalis Sarris has said the euro “will benefit consumers and businesses alike because of the eurozone’s low inflation, low interest rates and large market.”

The BBC reports that Cypriot and Maltese leaders “made symbolic withdrawals of euros from cash machines just minutes into the New Year.” TIME reports that Maltese Prime Minister Lawrence Gonzi had to wait a little while before getting his hands on the new currency because “an automated teller machine did not work when Gonzi tried to withdraw euros, and he was obliged to use a different ATM.”

The Cypriot pound (CYP) and the Maltese lira (MTL) will remain in use during a dual circulation period that will last until the end of this month, at which point they will cease to be legal tender. However, it will still be possible to exchange them for Euro free of charge after the end of this period. Commercial banks in Cyprus will exchange Cypriot pounds for Euro until 30 June, but only for amounts up to CYP 1000 per customer and per transaction in banknotes and up to CYP 5O in coins. The Central Bank of Cyprus will exchange coins until the end of 2009 and banknotes until the end of 2017. Maltese commercial banks will exchange Maltese lira for Euro until the end of March, with a limit for non-customers of MTL 250, whereas the Central Bank of Malta will exchange coins until 1 February 2010 and banknotes until 1 February 2018.

We’re sorry to say goodbye to our pound but happy to welcome the euro.

The single currency has replaced the Cypriot pound and the Maltese lira at a rate of one euro to 0.585274 Cypriot pound and 0.4293 to the Maltese lira, or 1.71 euro per Cypriot pound and 2.33 per Maltese lira. This conversion rate had been fixed on 10 July 2007 by Ecofin, the council comprising the finance ministers of the EU Member States.

Today with the adoption of the Euro, Cyprus and Malta have become even more integrated in the heart of the European Union, less than four years after they joined the EU.

Cyprus and Malta are the 14th and the 15th country to join the Eurozone, which already includes Austria, Belgium, the Netherlands, Finland, France, Germany, Ireland, Italy, Luxembourg, Portugal, Spain, Greece and Slovenia. All EU Member States are required to join the Eurozone once certain conditions are fulfilled, except Denmark and the United Kingdom which have negotiated a so-called opt-out that allows them not to adopt the single currency.

The Turkish Republic of Northern Cyprus, the de facto independent Turkish-controlled area in the north of Cyprus, will not join the Eurozone. Northern Cyprus is not part of the European Union and is recognised only by Turkey. As a result, the Turkish lira will remain the official currency in the north of the island; however, TIME reports that “many Turkish Cypriot merchants will also accept euros along with Turkish lira.” Cypriot Euro coins are inscribed in both Greek and Turkish.

The euro will also be legal tender in the Sovereign Base Areas, British military bases in Cyprus.

The national sides of the Cypriot Euro coins feature three separate designs for the three series of coins. The 1, 2 and 5-cent coins feature the mouflon, or wild sheep, the 10, 20 and 50-cent coins feature the Kyrenia ship, the wreck of a 4th century BC Greek merchant ship discovered in 1967 and salvaged closed to Kyrenia, and the €1 and €2 coins feature the Idol of Pomos, a prehistoric sculpture from the village of Pomos, three national symbols of Cyprus. The designs were jointly created by Tatiana Soteropoulos and Erik Maell.

The Maltese euro coins’ national sides will also feature national motifs. The 1, 2 and 5-cent coins will feature the altar of the Mnajdra temple grouping, a complex of three Neolithic temples on the southern coast of Malta and one of the oldest free-standing temple groupings in the world, the 10, 20 and 50-cent coins will feature the Coat of Arms of Malta, and the €1 and €2 coins will bear the Maltese cross, a symbol associated with an order of Christian warriors known as the Knights Hospitaller or Knights of Malta, which was based on Malta for more than 250 years after they had been given the islands by Charles V, Holy Roman Emperor. The designs of Maltese engraver Noel Galea Bason were selected after two rounds of public consultations in which people were invited to vote via SMS.

Both Cyprus and Malta have taken a number of steps to address fears of undue price rises. 7,130 Cypriot companies have subscribed to a Fair Pricing Code launched by the authorities and the Cypriot government urged companies to round their prices down. In Malta, the FAIR initiative, a fair pricing scheme, was put in place in January 2007. This scheme, which provides for administrative fines for those failing to respect their commitment, now involves 80% of all retail outlets. Malta, according to the BBC, has also signed 12 price stabilisation agreements with importers, which will last until March 2008.

In both countries, the authorities will monitor retailers to ensure they do not exploit the changeover for unfair gain by rounding up their prices, contributing to inflation.

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Is Prosperity Freedom Builder By Kimball Roundy A Scam?}

Is Prosperity Freedom Builder by Kimball Roundy a Scam?


Leighton JamesHang on to your seat because this article is about to shock you.Prosperity Freedom Builder is unlike any of the “Next Great Internet MoneyMaking Ideas” However, It is safe to assume that most of you still are timid about this new program and will need to investigate it before you truly see it’s beauty.The question that you will all ask yourselves is “Will This System Work For Me?I had the same question when I first began to research Kimball Roundy’s system, I just could not believe the claims the system made could be true. Most of the products advertised on the web never live up to their hype, and there are always negative reviews regarding them, the Prosperity Freedom Builder is no different.For argument sake I Will Compare it to The Reverse Funnel System. The Reverse Funnel System handles all of the normal hassle associated with internet marketing including: splash pages, the email auto responders, the advertising campaign tracking, and the merchant accounting.You may think thats great right? What the RFS system does NOT do for you is 1. Generate Traffic 2. Generate LeadsAll it does for you is give you a couple mediums in which YOU have to do all the advertising for.Prosperity Freedom Builder takes care of absolutely everything, and I mean everything. This system handles all of the “normal hassle associated with internet marketing including: splash pages, the email auto responders, the advertising campaign tracking, and the merchant accounting” AND on top of that they provide you with the traffic that you need to build your business.Let me explain to you how,1.Most of you are losing money because of your marketing costs, aka Google Adwords. You are ALL paying way to much for your keywords. And I bet all the money you are spending advertising is going down the drain.2.Here is the beauty of Prosperity Freedom Builder, They SET UP your very own Google Adwords account, With numerous campaigns and keywords that will cost you at most 20 cents a click. How Can You Beat That?3.Last But Not Least, Once they set up your account, then you have knowledge about google adwords, which you can take with you.Now, you may think that is wonderful, but there are many downsides to this.Since Kimball Roundy is setting up the Google Adwords account for you, many of the same keywords are going to be spammed. Which might lower your results. This system is not for everybody, you will still have to manually promote the site for better results. However, the hassle of paying for high priced keywords is taken care of for you.Another negative point, is that the system is fairly new. It has only been about 4 months since its creation. And like most new ventures there is risk involved.Copyright (c) 2008 Leighton James

Leighton James is an online money making machine. He has offered to let you in on his NEW secret weapon. Find out how to be the next internet success story

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Google Taiwan: Building knowledge sharing center-stage with innovations

Tuesday, December 25, 2007

Last Tuesday in Taipei, Google Taiwan held an annual summary press conference named “Collective Intelligence & Innovation” (In Chinese: ?????????). With many products had already been presented to the public like wikis, blogs, and photo albums in the Web 2.0 era, Google served to provide lots of services like Google Apps, Google Maps and YouTube with suitable versions in Taiwan differing other countries this year.

Global Deputy Director of Google Kai-Fu Lee said: “The contents on the Internet were mostly limited with some copyright issue in the past, but after many products in the Web 2.0 era are presented, several contents are progressively released and opened to the public in the presence. As those factors, we [Google] hope developers in Taiwan can develop useful tools for local people to apply with people’s life.”

“In order to change minds in public, we [Google] conjoined some required elements into people’s life, and services on iGoogle in Taiwan are progressively more and newer because of the improvements of developers. We hoped a simple service can be multiplied with releases of useful and functional tools,” he also said.

Also in this conference, the Engineering Director of the Google Taiwan R&D Center Li-feng Chien also announced the achievements on the “Google Taipei Developers’ Day” and invited developers named Chi-pao Hu and Yi-ru Lin to share some actual applications on iGoogle.

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How To Do The Home Renovation Jobs

Through performing a tiny bit of preemptive upkeep right now, you’ll be able to prevent minor problems through Through performing these kind of smaller vehicle repairs right now, you’ll be able to prevent fresh air, corrode along with wetness puncture through targeting this structural sincerity in your home in the future along with critically lowering it is benefit.”Our roof covering building contractors tend to be often occupied in the springtime, solving harm along with leakages who have happened on account of snow damming, inches Felton included.Remove corrode along with patch this gutters having roof covering bare concrete. Caulk leaking seams along with ensure place rivets tend to be risk-free.inches Examine this ceiling with regard to difficulties indicators like shattered or maybe missing out on shingles, chipped, attachment or maybe straightening shingles, or maybe bare areas the spot that the granular coating features put on down. Examine sporting close to ports, skylights along with chimneys. Look for parts who have peeled back again along with with regard to chipped caulking that could make it possible for wetness puncture.inches Contain the masonry cleaned out along with check the outer design with regard to put on sporting, loose bricks or maybe failing mortar.Inches Include your own furnace cleaned out, scrutinized along with safe practices tested. With regards to the system, you have got to hold the furnace vacuumed, this filtration system modified and the pilot tested.inches Check for blockage associated with attic louvres by simply wasp’s nests along with put published metallic, wire display screen or maybe timber above just about any spaces, including beneath eaves, to counteract pets through nesting.inches Remove along with store your own screen ac. Always clean this coils along with filter systems along with handle generally for your winter. In case one is leaving the air conditioner in screen, put a weatherproof handle above the idea to shield the idea throughout the winter.inches Clean up your own lawnmower along with other lawn tools ahead of holding. Give all of the metallic areas of your own tools a erase with an oiled publication to counteract rusting. Drain this gas through gas-powered equipment along with run this motor before the collections tend to be crystal clear. Drain this oil along with replace the idea. Clean up caked-on lawn along with debris.inches Examine doors and windows with regard to appropriate caulking along with weatherstripping. Accomplish this nfl draft analyze: store a lit candlepower unit along with run the idea on the seams associated with doors and windows. Any flickering flame signifies your own heating us dollars ‘re going out and about this screen. Examine this feet of doors for just a tight limit close up or maybe doorway sweep.Inches Ensure your own open fireplace was in risk-free doing work obtain. Be sure this damper starts along with sales techniques without problems along with matches correctly to counteract high temperature reduction. Adding a masonry cover can certainly cure a cigarette smoking open fireplace by simply enhancing this nfl draft.inches Drain outdoor water collections, hose-pipe bibs, sprinklers, along with swimming pool tools prior to initial key freeze. Caulk close to conduits exactly where these people type in the home.inches Clean up your own bbq along with store the idea within a safeguarded area for your winter. By no means store lp tanks inside your home.inches Clean up garden and patio furniture along with store, generally covered, within a dried up area.inches Wash glass windows in order to permit in the highest high temperature along with lighting during cool winter nights.Doing all of your slide tasks may make your health less complicated appear springtime, when you prefer to possibly be angling as compared to solving winter harm. There are lot additional ideas in this categories segment.

At least 53 killed, over 90 injured in Shanghai apartment fire

Tuesday, November 16, 2010

China’s Xinhua News Agency said Tuesday that at least 53 people were killed in Shanghai during a deadly fire. The blaze, which occurred on Monday at 2:15 p.m. CST (0615 UTC), consumed a 28-story high-rise apartment building in the city’s Jing’an District.

The building was being renovated at the time of the fire, and was home to over 150 families. At least 100 victims have been admitted to area hospitals, although some later died. Most survivors were not seriously injured, but needed treatment for smoke inhalation. Firefighters were still looking for survivors and over 70 were still hospitalized on the morning after the fire.

The fire was the worst in recent Shanghai history and took over 100 fire engines more than four hours to contain. Strong winds blew heavy smoke into the air, hampering rescue efforts by helicopters. The smoke was seen by witnesses around 15 kilometres (9.3 miles) away from the high-rise. The fire was largely extinguished by 6:30 p.m. local time (1000 UTC), allowing fire and rescue officials to enter the building.

The apartment building, built in the late 1990s, was home to mainly retired teachers. Some residents climbed down the scaffolding to escape, while others called for help but were unable to flee the blaze. “I saw at least four or five people hanging onto the scaffolding which covers the building, screaming for help,” said Li Qubo, who was working near the high-rise.

The cause of the fire has not yet been determined, but local residents said fire safety regulations were not strict, and workers often tossed used cigarettes into the building’s hallways. Qiu Jingshu, a 38-year-old worker who was outside the 18th floor when the fire struck, said he saw sparks from welding being done on an adjacent building fly over onto the high-rise. The sparks lit up foam on the scaffolding around the apartment, according to Qiu. “We had tried to put out the blaze, but the fire was so big and spread so quickly that we could barely escape ourselves,” he said. Crews were said to have been installing insulation at the time of the fire, and witnesses saw construction materials on fire before the building was overtaken by flames.

Two nearby buildings were evacuated, and their residents were temporarily sent to local hotels, and a school. Meng Jianzhu, China’s Minister of Public Security, said that an investigation would determine who was responsible for the fire, so they could be punished accordingly. Meng said that a team had been formed under China’s State Council to look into the disaster.

A similar incident occurred in Beijing early last year. In February 2009, the illegal use of fireworks caused a fire that gutted a 34-story building under construction at the time.

Shanghai has a population of about 20 million, housed mainly in high-rise apartments. Many buildings in the city are under construction or being renovated.

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Spy Cameras Various Spy Cams Choose The Right One For You

Submitted by: Thomas Jones

These days you can come across spy cams in houses, workplaces and as well in automobiles. There has been a remarkable increase in this business. The goal of spy cam business is to give evidence in lawful issues on the other hand it has found its immoral usage. Individuals spy for the reason that they would like to hinder in other s private lives. You can come across spy cams in a number of companies worldwide. These are installed to detect whether employees are working properly throughout working hours and as well to stop theft by employees. Thanks to improvement in technology, spy cams can be concealed in a pen and no individual can locate it. Earlier than purchasing a hidden camera you have to be familiar with the product, take care that you have all the pieces that you want and know about your entire neighborhood. A range of spy cams are accessible in the market. Get familiar with all the features of a few kinds of hidden cams listed below.

Mini wireless spy cameras are an expensive kind of spy cams due to its features, tiny size and wireless capabilities; operating range of this colored camera is just about 100 meters or so. Clock spy cams can be installed in a wall clock and alarm clocks and positioned in places where uninterrupted observation is necessary. These kinds of clock which has hidden spy cams can be moved to other positions. It as well has a wireless transmitter to transmit the recording to the remote DVR.

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Color spy camera come with significant features like wireless capabilities and a transmitter to transmit the recordings to the remote DVR and screen where the user can watch all the action. This kind of camera can be positioned within a vase, fire alarms, air fresheners, mobile phones and a number of other locations. One more type of spy cameras the bullet cameras are incredibly small physically. Additional features take account of, it can work for a number of hours, comes with a CCD camera, these long-lasting, all weather spy cameras are right for both indoor as well as outdoor uses.

Pinhole spy cameras are one more kind of miniature camera that is installed in locations where huge cameras cannot be installed and are noticeable. This can be hidden in a tissue paper box, DVD players or any other household item without being visible. Pen cameras are a pen with a hidden camera. Pen cameras look like a normal pen and can be used for writing purpose or carry the pen in your shirt pocket to snoop on someone. Additional features comprise it can be used for nearly 4 to 6 hours depending on the memory sizes usually these come with 2, 4, 8 or 16 GB s micro SD cards. These are categorized as wired spy camera. Another features include this can be used as a pen drive and it can be plugged to USB port of your PC to view the recording.

Night vision cameras capture clear pictures and video recordings of all the action even in complete darkness. Other features comprise infra red vision for night surveillance and unique kind of lens for day surveillance. These are best option for round the clock surveillance.

About the Author: Thomas is an expert in the field. For more information on

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World’s highest railway links Tibet to rest of China

Saturday, July 1, 2006

The first trains were flagged onto the Qinghai-Tibet Railway line, the world’s highest railway line connecting the Tibetan capital Lhasa with Golmud in Qinghai, China. At its highest point in the Tanggula Pass, the railway line reaches an altitude of 5072 metres.

The line is designed for travel at speeds of 100 km/h on frozen ground to 120 km/h on non-frozen ground. The cabins are supplied with oxygen because of the thin air at the high altitudes. The windows have ultra-violet filters to keep out the sun’s glare. Cooling pipes have been used to ensure the ground remains frozen.

Air trips to Tibet are expensive and road trips slow and dangerous.Three trains, each carrying 900 passengers are scheduled to run daily along the line. The basic tickets cost 389 yuan to go from Beijing to Lhasa. The trip should take just under 48 hours. According to state television the tickets for the inaugural trip sold out within 10 minutes.

Speaking at the flagging-off ceremony in front of the Golmud railway station, the Chinese President Hu Jintao said, “The project is not only a magnificent feat in China’s history of railway construction, but is also a great miracle of the world’s railroad history,”

The Chinese government states that it spent more than US$95 million reducing the environmental damage of this railway. Passengers will not be able to open the windows of the train to litter. There will be a rubbish train to pick up refuse from various sites along the line.

Critics claim that the railway will be used to assert control over Tibet as the line can quickly transport Chinese troops to Tibet during unrest.

They also claim that the railway will damage both the environment and the culture of Tibet. Tibet is home to many endangered species such as the Tibetan antelope.

On Friday, 3 women from the United States, Canada, and Britain were detained for displaying a banner saying “China’s Tibet Railway, Designed to Destroy” at Beijing’s main station.

“It’s the first direct, low-cost, quick, and easy way for migrants to arrive in central Tibet. This will lead to the overwhelming of Tibetans and competition for scarce jobs. The eventual idea is the dilution of Tibetan language, culture and identity,” said Lhadon Tethong, executive director of the New York-based Students for a Free Tibet.

“The railway line itself is not a cause of concern for the Tibetan people,” said Thupten Samphel, spokesman for the Dalai Lama’s government in exile. “How it will be used is the main concern.”

“Despite the rosy economic forecasts and dire predictions of Chinese control, the train is unlikely to touch off social disaster or commercial windfall,” said Andrew Fischer, an economics researcher at the London School of Economics.

“When the railroad opens the commercial service and more people move in and out of the region, I think it will be good for the outside world to know more about Tibetan culture,” Zhu, the railway official, said. “No culture can develop and thrive in a closed environment.”

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Interview: PRS, the UK’s music royalty collection society

Tuesday, January 26, 2010

PRS for Music is the UK’s music royalty collection society tasked with working on behalf of copyright holders, specifically authors and music publishers. Founded in 1914, the PRS is a non-profit organisation with 350,000 UK businesses holding PRS licenses. The society works in conjunction with PPL which collects fees on behalf of the copyright holders of the actual recording.So, if a cover version of a song is played on UK radio, PRS collect a fee on behalf of the original writer and publisher, whilst PPL collect a fee on behalf of the record company of the cover. In a recent Wikinews interview, Paul Campbell, founder of Amazing Radio, an unsigned UK radio station, lambasted PRS for their “barmy standard contract” and their outdated equipment. That interview can be found here.

The music industry is changing and the way we use music is continually changing

Wikinews reporter Tristan Thomas interviews PRS, following up on Campbell and others’ criticism as well as finding out about future plans.

((Wikinews)) Firstly, thank you for the time in doing this interview.

((WN)) Last year, you were involved in a high profile dispute with YouTube. Can you briefly explain to our audience what that was all about and the final outcome of it?

((PRS)) PRS for Music was the first collecting society in the world to license the YouTube service, meaning if music videos were watched online then our members – who created them – would receive a small royalty payment. When we went to renew the licence that YouTube held we couldn’t agree as to how much should be paid and exactly what should be covered within it. We believed that music had become a much larger part of the YouTube service and that YouTube/Google should reflect the increased use of our members’ creative talent in the amount they paid.

The great thing is that we kept talking to YouTube throughout the dispute and managed to reach an agreement in September which meant that the videos could be accessed again by UK YouTube users and that our 65,000 songwriter, composer and music publisher members would be paid.

((WN)) How many artists do you represent and how much did you collect during 2009 for them?

((PRS)) We represent 65,000 songwriters, composers and music publishers. We haven’t released our 2009 figures yet but in 2008 we collected over £600m for them. The main sources of revenue come from recorded media (CDs, DVDs etc), international use, public performance use and use in television, radio and online.

((WN)) Paul Campbell in a recent interview with us said the following:“PRS has a barmy standard contract for using their members’ music online. It requires us to pay them a fixed percentage of ALL revenue from that website – whether or not the revenue is derived from their members’ work. So if we had 100,000 songs from non-PRS artists on, and one song from a PRS artist, we’d have to pay them a percentage of the revenue from ALL 100,000 songs. I.e., we’d have to take money out of the pockets out of non-PRS artists to pay to PRS. That would be immoral.”How do you respond to that?

((PRS)) Anyone using music in a commercial way – such as a radio station – is required to obtain the permission of those that created the music. This could be numerous writers, publishers and a record label for each song, possibly in different countries around the world. By obtaining a PRS for Music and PPL licence in the UK you are ensuring you have those permissions for over 10million musical works. Obviously much of the music used on radio comes from non-UK writers who may not be members of PRS for Music. Radio and television stations give us almost 100% accurate reports of their music use through their own playlists; this data then enables organisations such as ours to work out who should be paid and how much. PRS for Music has 144 agreements in place with similar societies around the world, resulting in us representing almost 2 million writers worldwide. If French, American, Spanish, Australian or any other writer’s music is used we will pay the respective societies so they can pay their members.

Is PRS’ standard contract “barmy” as Paul Campbell asserts?
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Similarly a writer of musician may be ‘unsigned’ by that doesn’t mean that they shouldn’t earn from their music when it is used by others. Many bands, writers and performers are currently unsigned but by being members of PRS for Music they ensure that they can begin earning vital royalties that allow them to continue with their musical career.

((WN)) How does the PRS ensure that artists outside the UK are properly compensated when their music is used within the UK, such as Thai or Chinese restaurants paying their PRS dues and exclusively using music which is from outside Europe?

((PRS)) As mentioned before PRS for Music has agreements in place in over 90 countries around the world to ensure that when music is used the right creators are rewarded. The system – built up over the last century – works both ways and when UK music is used internationally, PRS for Music receives royalties from foreign societies so we can pay our members. In 2008 £139.8m was collected from UK music use abroad, with the UK being one of only a few net exporters of music in the world.

((WN)) There have been a few cases in which PRS have been forced to apologise, exemplified by the threat of prosecution and a fine towards “singing granny” Sandra Burt, a shelf-stacker who sung to herself whilst stacking shelves. How has PRS moved forward from these incidents in order to ensure they do not happen again?

((PRS)) If we have made mistakes we will of course put our hands up and say so. For example when we were approached about the Sandra Burt case – by a journalist incidentally and not Sandra – we did give out slightly incorrect advice, although the questions were a little ambiguous. Once we realised our mistake we contacted Sandra to explain that she wouldn’t need a licence to sing to her customers and offered our sincere apologies. As an organisation we are very quick to admit where we get things wrong and ensure they are put right. We’re proud of our record with our customers and currently have 350,000 businesses choosing to use music in the UK.

Once we realised our mistake we contacted Sandra

To put the complaints in context we have only have 1 for approximately every 5,000 customer contacts we make. This is an exceptionally low ratio and there are many firms who would be envious of a record like this. During 2009 our complaints fell by 50% and we appointed an independent ombudsmen who could handle any complaints if they were not resolved internally. As of January 2010 no complaints have needed to be passed on to the ombudsmen.

((WN)) How does the PRS work with musicians who are not signed to major labels, may make music available for download via their own websites or MySpace, and do not have the financial resources to protect their copyright?

((PRS)) Many of the PRS for Music membership is not signed to a major record label and we represent creators from all genres of music in the UK and abroad. By joining PRS for Music, which only costs £10 deferred to your first royalty payment, you ensure you can begin earning royalties whenever your music is played, performed or reproduced. We have worked hard to license such sites as YouTube, MySpace, Spotify and Sky Songs to name a selection to ensure our members can be rewarded when their work is used.

Our membership team also work hard to support our creators holding showcase events, offering advice of how to get their music used as well as legal and financial advice.

((WN)) Finally, what future plans do you have as an organisation in order to further protect and enhance your members work as new technologies emerge over the next few years?

((PRS)) PRS for Music will continue to be at the forefront of licensing new digital and online services to ensure creators are paid. We aim to get the balance right to ensure new products and music services can launch and develop, but that also they pay for the music they use.

The music industry is changing and the way we use music is continually changing (it always has) but we’ll still be at the forefront enabling people to use music whenever they want, and rewarding those that have created that music.

((WN)) Thank you for taking the time out for this interview. Good luck for 2010.

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The Changing Economic Models Of Audio Book Publishing In 2012

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By Terry Lessig

The Past As Prologue

If you are one of the mega-publishers of the last 30 years, this doesnt really apply to you. Deep pockets allowed you the freedom to invest resources into producing audio books from those manuscripts your research said would be profitable, hire top named talent, fill the pipeline with product, and wait for sales. In reality, it was to your advantage, as it moved the earn-out goalpost further downfield and delayed additional author royalties by that much more. You also had the freedom to sell the audio rights to an audio-only publisher in cases where such practice made economic sense.

This is for mid-sized and small publishers who rarely, or never ventured into the full exploitation of audio rights. You might have sold those rights whenever and wherever you could to provide an immediate return on your investment, caring little if it earned you and your authors further royalties. You published books, not tapes or CDs. Your world was the tactile, printed page, and you were happy to allow niche companies to handle the spoken step-child.

How It Has Changed

The digital revolution altered every aspect of communications. The proliferation of personal computers spawned an Internet that was not possible before, and this new taste of instant accessibility fostered dreams of even greater flexibility when combined with cell phone technology. New wireless devices were developed to deliver books directly to consumers, without brick and mortar stores, without a distribution pipeline, and even without printing a page.

Publishers quickly became comfortable with the idea that sales revenue could be made without having a tactile product move from their warehouse to a readers bookshelf, as a book could now travel almost directly from an editors workstation to a consumers handheld reading device. In a very short amount of time, a remarkable percentage of titles are sold this way.

Audio Book Publishing Evolution

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Since the advent of audio books more than three decades ago, they have consistently accounted for about 15% of a titles revenues, on average. Major publishing houses saw them as a necessary evil for their major titles, and hoped the audio version would at least earn back its production costs, which could be substantial. Big name talent were often employed to read, and the cost of analog audio production was high due to the cumbersome methods of editing that had to be used.

The use of computers in audio production significantly sped up the process, but something else drastically reduced the cost of audio production across the board, including how audio books are processed. Hardware and software costs created an ease of entry such that a teenager could now accomplish on his desktop a job that used to require rooms full of sophisticated machinery, and a team of specialists to keep it operating at peak performance. What they lacked in artistic judgment was quickly dismissed in favor of the cost savings, and it wasnt long before the artistic value was restored, as the learning curve of computer editing was nil compared to the old analog ways.

It is interesting to note that despite the printed page predating its audio counterpart by a number of centuries, audio book downloading to a personal listening device was nearly a decade ahead of the Kindle and its cousins. Audio downloading remains one of the fastest growing segments of the publishing industry.

Audio Books Now

Audio book publishing is no longer a niche market, nor is it a step-child. With an abundant number of personal devices able to receive, store, and play digital audio books, and the growing number of host platforms and sites, some offering a 60% split, it is a serious profit center.

Downloading now accounts for greater than 50% of all audio book sales, and it is growing rapidly. No longer is it necessary to manufacture CDs to publish audio, and by saving this cost, along with the associated costs of inventory logistics, a distributor, freight, and returns processing, the only cost to bear is productiona one-time, finite charge for a process that has also been revolutionized and streamlined by digital technology.

An audio book can now earn back its costs with as little as a few hundred units sold. This puts profitability within the grasp of small, medium, and now for the first time, self publishers.

The Case for Retaining Your Audio Rights

A standard publishing contract feature provides for an equitable split of fees earned on subsidiary rights, so when figuring the profitability of audio, you must also factor in that by retaining them, they only cost you one-half of their true value.

By combining the unlimited virtual bookshelf, reduced production costs, and zero manufacturing, shipping, or warehousing, it is easy to envision how audio book versions can be more profitable by retaining and exploiting them rather than subjecting them to a subsidiary sale, which also depends upon the existence of a buyer. A good thing to keep in mind is that a subsidiary rights buyer must believe there is a profit to be made with that right.


So far we have learned that digital technology has revolutionized every aspect of the publishing business, and that the Internet, combined with wireless technology, has created a method of instantaneous sales, void of any physical product.

We learned that a number of personal devices exist to receive and reproduce both printed and audio books, and that the number of host sites serving them is growing.

We learned that these factors create significant savings throughout the publishing process, including the associated costs of accounting and logistics for books and audio books in physical form.

We learned that audio book downloading has surpassed the tipping point, and accounts for more than one-half of sales.

And we learned that it takes fewer sales than ever to have a title in the black.


Many opportunities exist for publishers today to monetize their audio rights, but the creation of audio books is as much an art as it is a science. While it might be tempting to buy a USB microphone and download some audio freeware, audio recording and editing needs the skill set of a professional producer who can envision the end product and guide the project to completion.

About the Author: Terry W. Lessig is the Executive Producer and Publisher at


, an audio book production and publishing company. To learn about AudioBookMan’s different options available to authors and publishers, please send an email to



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