What is MFN in music licensing?

What is MFN in music licensing?

What is MFN in music licensing?

Most Favored Nations: Called “MFN” for short, this is an old contract phrase. If a contract has an MFN clause, it means that if you agree to better terms with another party for something similar, you have to go back and give the first party the better terms.

What is a favored nations clause in a contract?

Share: Most-Favored Nations (MFN) clauses (also known as antidiscrimination clauses or most-favored customer clauses) are common in business today. These provisions require that the supplier will treat a particular customer no worse than all other customers (and sometimes even better).

What is a most favored nations clause within the entertainment industry?

This is an industry term which means that you are getting equal contractual treatment to others on the project – billing, accommodations, and any other contractual provision. This is not required by SAG-AFTRA and must be separately negotiated between Performer and Producer.

How do you license music for record labels?

Licensing is when another business, usually another record label or a distributor, purchases the rights to an album from you. They pay you a set fee and then take on the task of acting as the label for that album in the territory for which they licensed the album.

What is an MFN fee?

MFN means Most Favoured Nations. This simply means that whatever amount you agree to pay the publisher, you also agree to pay the master owner and vice versa. If the publisher ends up charging more than the master owner, you must increase the fee for the master so they are equal amounts on both sides.

What is the most favored nations rule?

Most-favoured-nation (MFN): treating other people equally Under the WTO agreements, countries cannot normally discriminate between their trading partners. Grant someone a special favour (such as a lower customs duty rate for one of their products) and you have to do the same for all other WTO members.

How do MFN clauses work?

A most-favored-nation (MFN) clause requires a country to provide any concessions, privileges, or immunities granted to one nation in a trade agreement to all other World Trade Organization member countries. Although its name implies favoritism toward another nation, it denotes the equal treatment of all countries.

What does MFN mean in film?

Most Favored Nations
Film, television, performing arts, theater, gaming, webisode and other contracts that involve live or filmed performance differ in many ways. However, one term that can crop up in any of these contracts is “Most Favored Nations,” or MFN.

How do I ask permission to use a song?

In general, the permissions process involves a simple five-step procedure:

  1. Determine if permission is needed.
  2. Identify the owner.
  3. Identify the rights needed.
  4. Contact the owner and negotiate whether payment is required.
  5. Get your permission agreement in writing.