# ASC 440-928-05: Commitments — Entertainment—Music — 05 Overview and Background

Source: FASB Accounting Standards Codification, Basic View

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## ASC 440-928-05: 05 Overview and Background

[Read section](https://asc.understandingaccounting.org/asc/440/928/#05-overview-and-background)

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##### [440-928-05-1](https://asc.understandingaccounting.org/asc/440/928/#440-928-05-1)

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This Subtopic addresses the disclosure requirements for commitments made by an entity in the music industry to pay artist advances in the future, and for any guarantees obligating the entity to pay [royalties](https://asc.understandingaccounting.org/glossary/r/#royalties "Amounts paid to record producers, songwriters, or other artists for their participation in making records and to music publishers for their copyright interest in music. Amounts for artists are determined by the terms of personal service contracts negotiated between the artists and record entities and usually are determined based upon a percentage of sales activity and license fee income, adjusted for estimated sales returns. Royalties for publishing are based on the copyright or other applicable laws, but the requirements of the law may be modified by licenses issued by the publishers.") in the future.