M+E Daily

Vistex announced that Musicians Institute is the first school to implement Record Maestro as a core requirement of its Music Business Program, which is designed to equip future music industry professionals with the skills they’ll need to succeed. Founded in the heart of Hollywood in 1977, Musicians Institute (MI) was built on the idea that musicians should teach—and learn from—other musicians in a creative, supportive environment. In addition to their student-first philosophy, MI is leading the way in music business education by taking a progressive approach to preparing their students for success after college.

“Vistex is proud to contribute to the next generation of industry professionals and their success. Record Maestro is the market leader for royalty solutions in the music industry and is the go-to solution for record labels… large and small. The real-world education MI is providing students by implementing Record Maestro into the curriculum will give them a competitive edge in gaining access to the music industry,” added Natalie Eig, Account Executive for Vistex.

Stacy Turner, Chair of MI’s Music Business Program, said that in today’s market, “music companies typically don’t have the time to invest in training new employees. They expect new hires to hit the ground running. So it is a priority for us as a college to prepare our students accordingly.”

Turner, alongside Music Business faculty who have backgrounds working at Universal Music Group, Capitol/EMI, BMG Rights Management, Warner Chappell (France) and more, developed a robust program taught by industry veterans whose aim is to revolutionize the way students learn by providing a full education on the current industry landscape to the next generation of professionals.

From the very beginning of MI’s expansion plan of the Music Business Program, it was unanimously agreed to integrate technology that translates into real-world application for students. As part of a series of computer and accounting courses, students first learn how to interpret business contracts and pull out terms, then subsequently input them into various royalty models and apply them within Record Maestro.

Using Record Maestro, students are learning how to work with assorted sales files and complete mass data uploads, calculate royalty obligations, and ultimately how to generate artist and mechanical statements. Plans are also in place for developing a curriculum to cover advanced areas as well as integrating Record Maestro into other courses.

“When I was first investigating software for the program, industry professionals and colleagues overwhelmingly recommended Vistex products, particularly Record Maestro and Music Maestro,” Turner continued. “Then with the assistance and support of Sovereign Music, we were able to work quickly with Vistex to secure Record Maestro for the program. The software’s ability to manage contracts, complex rate models, and income analysis is exactly what our students need to learn to prepare them for their future careers.”

Musicians Institute is the latest client to join Record Maestro’s client list, including BMG Rights Management, Unidisc, Blanco y Negro, Australian Music Corporation, Epitaph and more.