MDVL 302 Lecture Notes - Lecture 8: The Fairy-Queen, Restoration Spectacular

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goldtermite279

23 Jun 2022

School

UBC

Department

Medieval Studies

Course

MDVL 302

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Document Summary

The fairy queen was a semi-opera based on shakespeare"s play, a midsummer. A semi-opera was an entertainment of the restoration. The period after the end of the puritan regime under oliver cromwell (theatre had been banned) The masques are presented by the fairy characters of oberon and titania. The masques are episodes of singing and dancing. A form of courtly entertainment, common in 16th and early 17th century europe. A masque involved music and dancing, singing and acting, within an elaborate stage design; professional actors and musicians were hired for the speaking and singing parts. The spoken text is mainly as shakespeare wrote it. The music composed by purcell for the opera is baroque". Baroque music was very elaborate and ornamental; there were new playing techniques as well. The size and range of instrumental performance was greatly increased. These machines" are commonly found in a restoration spectacular".

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Write 3 paragraphs that has:

1.. Summary of the article

2. A discussion of how the article relates to or illustrates the terms you have listed on our cover page.

3.. A brief discussion of how this relates to you personally.

Article:

https://www.bloomberg.com/view/articles/2017-09-25/the-music-business-is-more-unfair-than-ever

The music business is booming, and it's doing so thanks to streaming. But the tech pioneers who made this possible in the last two years aren't making any money, and neither, really, are musicians: It's legacy businesses -- the music companies that own the catalogs -- that are collecting all the profits. Something has to give.

The Recording Industry Association of America reports that U.S. retail music sales were up 17 percent year-over-year in the first six months of 2017, to $4 billion. That's still very far from the industry's revenues at the height of the compact disc boom in 2000, but it's spectacular for this decade. Streaming is running behind this achievement: In just two years, it's grown from 33 percent to 62 percent of the market.

Yet the market leader, Spotify, is still unprofitable after posting an operating loss of $412.3 million in 2016. Pandora, another beneficiary of the streaming boom, posted 10 percent year-over-year revenue growth in the three months to June but dramatically increased its net loss -- to $125.8 million from $76.3 million. For Tidal, founded by rapper Jay-Z and now part-owned by Sprint, no profit is in sight. It's unclear how much Apple and Alphabet make from their streaming services because the companies don't break out these results, but they probably would do so if the services were profitable.

Like at the dawn of streaming, musicians are still complaining that it's next to impossible to make money from it. The RIAA has calculated that a music creator only earns $1 from 58 hours of streaming video on YouTube -- the company most often blamed for the "value gap" that plagues artists. Other industry leaders are more generous, but that's not saying much. On average, an artist earns $100 for 152,094 streams of a song to Spotify subscribers. That's dismal; you have to be extremely-popular before you can earn enough for food.

Only the oligopoly of record labels that control the intellectual property -- Universal Music Group, Sony Music Entertainment, Warner Music -- are reaping profits from the boom. Warner Music posted a record profit in the three months to June; no wonder it now controls one of the world's top streaming services, Deezer, which once planned to go public. At Sony, music is one of the strongest profit drivers. UMG consistently provides most of the profit of its corporate parent, Vivendi.

In its recent forecast for the music industry, Goldman Sachs predicts that record labels' share of the music industry's revenue will increase by 133 percent between 2015 and 2030, while the share that goes to musicians, venues and tour organizers will only grow by 60 percent. So the investment bank expects the labels to continue reaping a disproportionate share of the benefits.

It's unfair. Streaming services don't just provide the content delivery mechanism the way, say, a CD factory does. They curate the content and, in effect, keep and manage our music collections for us. And artists don't just deserve a greater reward as the reason the industry exists: The relative lack of money for musicians makes for less good music. It's one reason back catalogs now outsell current releases.

Perhaps the music market is even distorted enough for regulatory intervention: Breaking up the record label oligopoly on anti-trust grounds could hand both streaming services and musicians more market power. But whether that's feasible or not -- all recent attempts to accuse the record labels or price fixing have failed -- the market is getting ripe for a big renegotiation of terms. Spotify has already managed to reduce its payments to the record labels from 55 percent to 52 percent of revenues; its competitors ought to drive a harder bargain, too. Artists, who have traditionally complained about the streaming companies and fought with them, even removing their catalogs from the likes of Spotify, are the streaming services' natural allies in the negotiations: It's from the labels that they need to get a bigger share of the pie.

lemonfrog999

MILE Entertainment Systems was established by four graduates of Istanbul Åehir University (ISU) in 2020. Mahmut, son of a genuine Anatolian merchant, has been fond of electronic games since his childhood. If he were born in New York or Tokyo, he could make one of the best electronic game designers even before the age of 15! Ä°brahim, son of a bank manager at TÃ¼rkiye Finans, a so-called participation bank working on Islamic (no-interest) principles. His main goal has been âto transform a Turkish company into one of the top trend-setters in the global marketplace. (planning-vision)â He thought that finance was the heart of the matter, so he would concentrate mainly on the financial aspects of the enterprise. âGive me money and I will take care of the rest!â Lisa, daughter of a Prussian landlord, has worked as an apprentice for her aunt Helga, a wellknown fashion designer in Hamburg. Her childhood dream was to direct a film which will overshadow the legendary Kinderfilms like Pinokyo and the Wizard of Oz. She considered ISU studentship as a critical step toward her goal. Elif, the daughter of a trade union leader, has been thinking of leading the global environmental struggle against the egoistic capitalist manufacturers of the world. Her basic competencies lie in the areas of engineering and management. She is able to think like a person of science and act as a woman of politics. After a long discussion with Prof M Ozel of ISU, they borrowed TL 100,000 (role of entrepreneurship) from TÃ¼rkiye Finans, thanks to Kemal Bey, Ä°brahimâs father, on the basis of a profit-and-loss-sharing system. These four kafadars, a Turkish word for high-risk-takers, agreed on developing new video games with new heroes (Planning). Rather than compete directly with companies like Sony and Microsoft, they made the decision to broaden the market to attract people who have not already played video games (Planning). They introduced the MES (Mahmutâs Entertainment System) after six months, and it was an instant hit. Over the course of the next two years, it almost single-handedly revitalized the video games industry. Selling over 60 million units, people brought games like Mario and Zelda into their homes for the first time on the MES. The second step was the Game Boy in 2022. Its screen was four-colors-of-gray but the device defined portable gaming and was enormous fun. Game Boy was closely associated with the classic game Tetris when it first appeared in the market. Game Boy is nowadays the most successful video game system ever released. Since its introduction in 2022, Game Boy has sold well over 500 million systems worldwide. Originally bundled with the game Tetris, this little handheld became an instant phenomenon. And on November 13, 2023 in Ä°stanbul, MILE launched the MILE 3DS system, which allows users to view 3D content without the use of special glasses. The company was organized in a postmodern way. There were almost no clear boundaries between the so-called functional departments, such as Research and Development, Manufacturing, and Sales and Marketing. Even the doorkeepers were held responsible for marketing, if not for finance! The Gang of Four comprised the Governing Board together with two independent board members: Ahmet Ademoglu, the former director of the Central Bank, who was expected to put the financial side of the enterprise in order; and Mehmet KoÃ§, the ex-marketing manager of Ulker Company, who was given sole authority for the sales and promotions (Organizing). The Gang dreamed, designed, and developed; the professionals executed! Towards the end of the second year of their establishment, the administration decided to transfer the top management of Nintendo (Planning), the legendary Japanese video games manufacturer. You know, the Japanese are known for lifetime commitment to their companies. In China every family is said to be company, whereas in Japan each company seems to be a family! However, Okamuko Suzuki, the then CEO of Nintendo, was a western-minded manager who accepted the five-million dollar transfer money and joined (Staffing part of Leading) the MILE community. He also convinced six other top managers to move Turkey (Leading) and become part of the new firm. Considering the wide cultural gap, Suzuki wisely thought that it would be foolish for him to manage the whole company with its more than forty Turkish experts (Planning). Instead he asked for the establishment of a relatively small Design Department, and was appointed as the chief director (Organizing) of it. Mahmut Bey would coordinate (Leading, He is given a new role) the activities of these radical designers with the rest of the company. MILE has produced impressive results in a decade of uncertainty in the world economy. Almost out of nothing, they realized a sales volume of 2 billion liras by 2030, with an aftertax profit rate of 12 per cent. Even then, however, they were concerned. It would be easy, they said, for complacency to set in. They wanted to keep the company hungry and humble (Planning). Lisa was the public face of MILE. She was present in all kinds of high-society ceremonies like film galas, ballet shows, fashion fairs, and high level socio-political events (Role of Figurehead). She declined the marriage offer by one of the young ministers of the Cabinet, saying she is already married to MILE! However, most public announcements were made by Ä°brahim (Role of Spokesperson). He knew almost all media figures by their names (Role of Liaison), and had a very convincing speaking style (Role of Leader). He is the person at the two extremes of the enterprise: all major moves start with his announcements (Role of Spokesperson) and are overseen by his meticulous examination (Controlling). He uses every tool and opportunity to get rid of unnecessary costs (Controlling). Mahmut has always been the spiritual motivator of his community at every level (Leading and Role of Leader). He is fond of people as much as electronic games. He openly shares his ideas, plans, and even his dreams with his fellow inventors (Leading and Role of Disseminator). Like Iniesta of Barcelona, he is a team-builder and a game-developer (Leading and Role of Leader) before being an inventor himself. He is a quick reader of top electronic journals (Role of Monitoring), collecting whatever of value for his community (Role of Monitoring) and transmitting it through various channels to the prospective inventors of the company (Role of Disseminator). Elif acts like a public conscience (Role of Leader) for the community. Being a harsh critique of the global capitalism, she is actually against the monopolist concentration of capital. She always bargains trade terms with the commodity sellers (Role of Negotiator) and backs the workers in their discussions even against the MILE management. She acts like a magic-doctor between the labor and the capital and settles all kinds of disputes among workers themselves (Role of Disturbance Handler). She is called âElif Ablaâ by the community as a whole. QUESTIONS: 1. Write a vision statement, a mission statement, and three major strategies for MILE. 2. Which managerial functions seem to be performed well by the four kafadars? 3. What managerial roles are being played by the kafadars?

Dell Computers is a leader in the industry with over $56 billionin sales each year. A recent annual report for Dell contained thefollowing note:

Warranty
We recordwarranty liabilities at the time of sale for the estimated coststhat may be incurred under its limited warranty. Factors thataffect our warranty liability include the number of installed unitscurrently under warranty, historical and anticipated rates ofwarranty claims on those units, and cost per claim to satisfy ourwarranty obligation.

1. Assume thatestimated warranty costs for 2014 were $500 million and that thewarranty work was performed during 2015. Describe the financialstatement effects for each year.

Walt Disney is a well-recognized brand in the entertainmentindustry with products ranging from broadcast media to parks andresorts. The following note is from a recent annual report:

RevenueRecognition

For non-expiring,multi-day tickets to our theme parks, we recognize revenue over athree-year period based on estimated usage patterns which arederived from historical usage patterns.

2. Assume thatDisney collected $90 million in 2014 multi-day tickets that will beused in future years. For 2015, the company estimates that 60percent of the tickets will be used. Describe the financialstatement effects for each year.

Brunswick Corporation is a multinational company thatmanufactures and sells marine and recreational products. A recentannual report for Brunswick contained the followinginformation:

Litigation

A jury awarded$44.4 million in damages in a suit brought by Independent BoatBuilders, Inc., a buying group of boat manufacturers and its 22members. Under the antitrust laws, the damage award has beentrebled, and the plaintiffs will be entitled to their attorneyâsfees and interest. The Company has filed an appealcontending the verdict was erroneous as a matter of law, both as toliability and damages.

3. How should Brunswickaccount for this litigation?

Halliburton is a major corporation involved in the entire lifecycle of oil and gas reserves, starting with exploration anddevelopment, moving through production, operations, maintenance,conversion, and refining to infrastructure and abandonment. Arecent annual report for the company stated the following:

EnvironmentalExpenditures

Our accrued liabilities fromenvironmental matters were $50 million for the current year and $41million for the previous year.

4. In your own words, explainHalliburton's accounting policy for environmental expenditures.What is the justification for this policy?

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MDVL 302 Lecture Notes - Lecture 8: The Fairy-Queen, Restoration Spectacular

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