Term
| Understand the ratios for Album and Song equivalents |
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Definition
| $1 = 10 dimes = 100 pennies. You wouldn’t simply add these up and say you have 111 monies. You would convert the dimes and pennies into dollars and say you have 3 dollars. |
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Term
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Definition
| Ten track sales equals one album equivalent |
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Term
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Definition
| 1500 on-demand streams equals one album equivalent |
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Term
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Definition
| 150 on-demand streams equals one Song equivalent |
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Term
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Definition
These reports are where changes in the business as a whole will be seen
Be able to spot and understand macro trends
Know how to review current and catalog and the differences as well as genre and format |
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Term
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Definition
| Understand components of album, artist, and song dashboards and how to measure and recognize trends and differences |
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Term
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Definition
| Know how to construct various ranked list for custom analysis |
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Term
| Review and understand important points of discussion in the narrative of RIAA Midyear report and the scope of this report |
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Definition
| i.e. report represents dollars not units, U.S. only, Music industry Trends etc.) |
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Term
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Definition
Be able to spot and explain regional differences
Pay attention to global trends and industry implications |
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Term
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Definition
Review and understand why this is important to the music industry
Understand both sides of the argument and be familiar with high level concepts in the reading material on this topic |
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Term
| Billboard Chart Rules and Methodology changes |
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Definition
| know How has measuring success changed over the years |
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Term
| Latin Music Insights Report |
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Definition
Importance of indexes and how they provide context to the numbers
How different data elements can be pulled together to formulate a story |
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Term
| % change - there are two acceptable formulas for calculating percent change. |
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Definition
X/Y-1
(X-Y)/Y Note: the parentheses are necessary in this example
So, as an example, if you are trying to calculate % change for YTD 2017 vs. YTD 2016, you would do the following. If the 2017 YTD number is 500 and the 2016 YTD is 400, you could perform the calculation by either doing: 500/400 - 1, which would result in an answer of 0.25, or 25%, which is a 25% increase.
(500-400)/400, which would also result in an answer of 0.25, or 25%.
Another example, if the 2017 YTD was 400 and the 2016 YTD number was 500, you would perform the calculations as
400/500 - 1, which would result in an answer of -0.2, or -20% (a 20% decrease)
(400-500)/500, which also would result in a result of -0.2, or -20%. |
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Term
| % of total, or share - measuring what share of a total universe is represented by a portion of that universe. |
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Definition
| For example, if there are 500 sales in the total industry and Rock accounts for 25 of those sales, the share that Rock represents would be calculated as 25/500 which would be 0.05, or 5%. Your answer will always be a number between 0 and 100% - it is not possible to have an answer less than zero for share, nor is it possible for something to be over 100%. |
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Term
Equivalent Album and Equivalent Song ratios.
Remember for purposes of Album Equivalent calculations that the following always apply to Industry, Dashboard, Ranked List, and Chart calculations |
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Definition
1500 On-Demand streams = 1 Stream Equivalent Album, or SEA
150 On-Demand streams = 1 Stream Equivalent Song, or SES
10 Song/Track sales = 1 Track Equivalent Album, or TEA
The Billboard Top 200 Chart ONLY includes On-Demand Audio streams, at the above mentioned rate of 1500:1.
When calculating share, please remember to convert Streams or Tracks to Equivalent albums when comparing to total volume of Albums + TEA + SEA. Again, share should never be less than zero or over 100%, so you will get an incorrect number if you take streams divided by Total Album Equivalent volume.
For Example, if the Total Industry Album Equivalent Volume (Album + TEA + SEA On-Demand) is 100 and the total On-Demand Streams is 45,000, you would first have to calculate the SEA volume by taking 45,000/1500, which would be 30. Then you would take that 30 and divide into 100, for a result of 0.3, or 30%.
If you are calculating total Album Equivalent volume, such as the Billboard Top 200 Chart, you would have to add total Albums + TEA + On Demand SEA. So, if your album sales are 100 and your Song/Track sales are 1,000 and your streams are 150,000, your total Album Equivalent Volume would be 100 + (1,000/10) + (150,000/1500) or a grand total volume of 100 + 100 + 100 = 300.
Similarly, if you are doing this at the Song Equivalent volume level for a Song, you would take Song/Track sales and add Streaming Equivalent Songs (SES) to get the total Song Equivalents. So 1000 song sales + 1,500,000 on-demand streams would result in a formula of 1000 + (1,500,000/1,500) = 2,000 total Song Equivalents |
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Term
| Know sorting and filtering, as well as calculating metrics (like the above) in an excel sheet by using the “=” in a sheet. |
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Definition
https://www.goskills.com/Excel/Articles/Excel-essentials (Links to an external site.)Links to an external site. Navigation tools, such as freeze panes will be helpful in making things quicker and simpler, but are not necessary to get to the right answers.
The fixed reference (using the “$” in a formula) is a necessary skill that can be challenging, but is something that you should endeavour to understand if you are going to do any work in Excel. It will not be on this test, however. |
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