{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/605/928/","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","number":"605-928","topic":"605","title":"Entertainment—Music","area":"Revenue","paragraphs":8,"summary":"ASC 605-928 formerly provided industry-specific revenue recognition guidance for the music industry (licensors of music rights, record masters, and related fees). Every paragraph in the subtopic — scope, recognition, initial measurement, and relationships sections — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). 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class=\"ph b\">Action</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Accounting Standards Update</strong> </td> <td class=\"entry\"> <strong class=\"ph b\">Date</strong> </td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">License Agreements</strong> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Minimum Guarantee</strong> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <strong class=\"ph b\">Record Master</strong> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> <td class=\"entry\"></td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/605/928/#605-928-05-1\" class=\"xref\">928-605-05-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/605/928/#605-928-15-1\" class=\"xref\">928-605-15-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <div class=\"xref-range displayInline\"><a href=\"/asc/605/928/#605-928-25-1\" class=\"xref\">928-605-25-1 through 25-3</a></div> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/605/928/#605-928-30-1\" class=\"xref\">928-605-30-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> <tr> <td class=\"entry\"> <a href=\"/asc/605/928/#605-928-60-1\" class=\"xref\">928-605-60-1</a> </td> <td class=\"entry\">Superseded</td> <td class=\"entry\"> <a href=\"/updates/asu-2014-09/\" class=\"xref\">Accounting Standards Update No. 2014-09</a> </td> <td class=\"entry\">05/28/2014</td> </tr> </table> </div> </div>","snippet":"The following table identifies the changes made to this Subtopic.\nParagraph | Action | Accounting Standards 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Every paragraph in the subtopic — scope, recognition, initial measurement, and relationships sections — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). Entities now account for music-industry revenue under ASC 606 and, for licensing arrangements, ASC 606-10-55-54 through 55-65, with residual industry guidance in ASC 928.","key_points":["Every paragraph of ASC 605-928 (605-928-05-1, 15-1, 25-1 through 25-3, 30-1, and 60-1) is marked 'superseded by Accounting Standards Update No. 2014-09' and carries no remaining authoritative content.","The former guidance conditioned recognition of licensed music rights fees on criteria such as a signed noncancelable contract, a fixed fee, delivery of the rights, and collectibility — those bright-line conditions no longer apply.","Music revenue is now recognized under the ASC 606 five-step model, including the licensing implementation guidance distinguishing functional (point-in-time) from symbolic (over-time) intellectual property in 606-10-55-58 through 55-60.","Sales- or usage-based royalties from licenses of intellectual property, common in music, are recognized under the constraint in 606-10-55-65 when the later of the subsequent sale/usage occurring or the performance obligation being satisfied.","Remaining music-industry-specific guidance (for example, on record masters and artist advances) resides in ASC 928, not in this superseded revenue subtopic.","Researchers should treat ASC 605-928 as historical only, useful for understanding pre-2014-09 practice and transition comparisons."],"categories":["Revenue","Industry-specific","Transition and effective dates","Recognition"],"audience_level":"intermediate","student_note":"This subtopic is a shell: its only exam-relevant fact is that ASU 2014-09 wiped out the music industry's separate revenue rules. The common mistake is citing the old fixed-fee/delivery criteria for licensed music rights instead of applying ASC 606's licensing and royalty-constraint guidance.","related_topics":["606","928","605","340-40","926"],"key_concepts":["superseded guidance","music industry revenue","licenses of intellectual property","sales- or usage-based royalties","record masters","industry-specific revenue guidance"],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:4fec491a2dfb5b446a8a255650077cf29ca25614aa373f42069f96d83872968e","downloaded_from":"2026-09-10T00:48:12.626Z","last_downloaded_at":"2026-09-10T00:48:29.629Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},"related":[{"number":"605-920","title":"Entertainment—Broadcasters","topic_title":"Revenue Recognition","score":0.9225,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:b8639e95b6b8a392cda46381686c7dcd15aab67639254e93d5f3d8d0f674dc42","downloaded_from":"2026-09-10T00:46:59.084Z","last_downloaded_at":"2026-09-10T00:47:08.048Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"605-926","title":"Entertainment—Films","topic_title":"Revenue Recognition","score":0.9201,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:adfe4ef64fa5ec2de4c032b62477d2a1461f210e3dd73a68442af0d1d0295306","downloaded_from":"2026-09-10T00:47:51.885Z","last_downloaded_at":"2026-09-10T00:48:09.300Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"605-922","title":"Entertainment—Cable Television","topic_title":"Revenue Recognition","score":0.9035,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:ab5204c3342a4ac6f70c2a541f3481e5d7458ced735398fe642d33fb3f4b5a98","downloaded_from":"2026-09-10T00:47:12.125Z","last_downloaded_at":"2026-09-10T00:47:25.083Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"605-924","title":"Entertainment—Casinos","topic_title":"Revenue Recognition","score":0.8821,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:80c8ce46365395a11129b1ba5629bd9fb2e0ae7bbf1e72621a1c5fc6768c4e79","downloaded_from":"2026-09-10T00:47:28.279Z","last_downloaded_at":"2026-09-10T00:47:49.424Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"430-928","title":"Entertainment—Music","topic_title":"Deferred Revenue","score":0.8785,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:1af9224683d1c4c8ea57229554aae1b78c92c530528cebbe919a4b92b1b4e1cc","downloaded_from":"2026-09-10T00:24:14.561Z","last_downloaded_at":"2026-09-10T00:24:22.885Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}},{"number":"605-30","title":"Rights to Use","topic_title":"Revenue Recognition","score":0.8608,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:7937e8c39dd519d436fede4d2337b4c6cd0e1acdd1f586262215b1ff68eb24f6","downloaded_from":"2026-09-10T00:43:25.666Z","last_downloaded_at":"2026-09-10T00:43:32.660Z","date_scope":"source_page_range","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps"}}],"prev":{"number":"605-926","title":"Entertainment—Films","topic_title":"Revenue 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