A perennial bestseller, this definitive guide to all legal, economic, and financial aspects of the music business is better than ever in this revised, thoroughly updated new edition. This edition addresses the implications of MP3, the Copyright Term Extension Act, union treatment of digital music, and more. As this "bible of the music business" moves into its 40th year, the book's expanded scope addresses challenges and opportunities of a new century, including: MP3 record duplication, Internet sales, and cybercasting, digital record performance rights for artists and record companies, new markets emerging from WIPO and GATT treaty enforcement of copyright protection against counterfeiters and bootleggers, greater reliance on major labels, further merging of powerful companies, and reduced record distribution by independents, revised markets opened by the European Economic Union and other consolidations, and the impact, both positive and negative, of growing motion picture and theater investments in the music business.