# ASC 605-928: Revenue Recognition — Entertainment—Music Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/605/928/) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-10T00:48:12.626Z to 2026-09-10T00:48:29.629Z Record version: sha256:c3aa0d250875a84095739c3eb4fcdc89964df3474a8b0d9c69f52a40bcb5e8f6 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928: Revenue Recognition — Entertainment—Music ### Machine-generated study aids ```json { "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 Every paragraph in the subtopic — scope, recognition, initial measurement, and relationships sections — was superseded by ASU 2014-09 (Revenue from Contracts with Customers). 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"key_points": [ "Every paragraph of ASC 605-928 (605-928-05-1, 15-1, 25-1 through 25-3, 30-1, and 60-1) is marked 'superseded by Accounting Standards Update No. 2014-09' and carries no remaining authoritative content.", "The former guidance conditioned recognition of licensed music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" ] } ``` Source downloaded (UTC): 2026-09-10T00:48:12.626Z to 2026-09-10T00:48:12.626Z Record version: sha256:7912cac7c02e49fb30c4bc99fef020fbf9565c3cf043f785b0ceab361cd323f6 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928-00: 00 Status [Read section](https://asc.understandingaccounting.org/asc/605/928/#00-status) SEC content: no ##### [605-928-00-1](https://asc.understandingaccounting.org/asc/605/928/#605-928-00-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:12.626Z to 2026-09-10T00:48:12.626Z Record version: sha256:efaca5b929957ccd2b9580cfa47b50cfa273e7e7c8493cf7bb9f4e0026f9b176 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The following table identifies the changes made to this Subtopic.
ParagraphActionAccounting Standards UpdateDate
License AgreementsSupersededAccounting Standards Update No. 2014-0905/28/2014
Minimum GuaranteeSupersededAccounting Standards Update No. 2014-0905/28/2014
Record MasterSupersededAccounting Standards Update No. 2014-0905/28/2014
928-605-05-1SupersededAccounting Standards Update No. 2014-0905/28/2014
928-605-15-1SupersededAccounting Standards Update No. 2014-0905/28/2014
928-605-25-1 through 25-3
SupersededAccounting Standards Update No. 2014-0905/28/2014
928-605-30-1SupersededAccounting Standards Update No. 2014-0905/28/2014
928-605-60-1SupersededAccounting Standards Update No. 2014-0905/28/2014
Source downloaded (UTC): 2026-09-10T00:48:15.409Z to 2026-09-10T00:48:15.409Z Record version: sha256:8dd9335a2a2c2f22451eb2ea0c8c077fba435c1af5ff20c211f192732069627c Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928-05: 05 Overview and Background [Read section](https://asc.understandingaccounting.org/asc/605/928/#05-overview-and-background) SEC content: no ##### [605-928-05-1](https://asc.understandingaccounting.org/asc/605/928/#605-928-05-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:15.409Z to 2026-09-10T00:48:15.409Z Record version: sha256:df558bb0dc458d194b61729457823eba16fed221b854ac1d2271b927edac3f60 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-10T00:48:19.180Z to 2026-09-10T00:48:19.180Z Record version: sha256:715de07fd47fe8525226b658d2bc5843a551e2a820111d8481691e10c7809a0d Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928-15: 15 Scope and Scope Exceptions [Read section](https://asc.understandingaccounting.org/asc/605/928/#15-scope-and-scope-exceptions) SEC content: no ##### [605-928-15-1](https://asc.understandingaccounting.org/asc/605/928/#605-928-15-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:19.180Z to 2026-09-10T00:48:19.180Z Record version: sha256:0eb6ef46c631bf74d858b1005f949333b2b33c2ed54ea00b0fa199a6b6633481 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-10T00:48:22.133Z to 2026-09-10T00:48:22.133Z Record version: sha256:bf80daccfc71ebb0d1c9b1bcb06f8014d57392beb32471eb856fa5712af96202 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928-20: 20 Glossary [Read section](https://asc.understandingaccounting.org/asc/605/928/#20-glossary) SEC content: no Source downloaded (UTC): 2026-09-10T00:48:23.962Z to 2026-09-10T00:48:23.962Z Record version: sha256:10e3b583c1f378206f239ebb23259eeb93b47aaaefb7b36759e1b61e1cdfd10f Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928-25: 25 Recognition [Read section](https://asc.understandingaccounting.org/asc/605/928/#25-recognition) SEC content: no ##### [605-928-25-1](https://asc.understandingaccounting.org/asc/605/928/#605-928-25-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:23.962Z to 2026-09-10T00:48:23.962Z Record version: sha256:a11bde30b3f5a46be88ddd722235a748610df0b7d4b5c29402bd34ce011d614a Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). ##### [605-928-25-2](https://asc.understandingaccounting.org/asc/605/928/#605-928-25-2) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:23.962Z to 2026-09-10T00:48:23.962Z Record version: sha256:9011832c758eb46c47c42657af2242191e8dc34ca20980803f42ba7d182b7f43 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). ##### [605-928-25-3](https://asc.understandingaccounting.org/asc/605/928/#605-928-25-3) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:23.962Z to 2026-09-10T00:48:23.962Z Record version: sha256:36d3229a0cce6a7a98317c6ae080810328a7d652e2dd49126107faf6845e51e8 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-10T00:48:26.615Z to 2026-09-10T00:48:26.615Z Record version: sha256:2c3030d8f4765919293c824daa50a7d739f0dcfb56401158ffd93637578a624b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928-30: 30 Initial Measurement [Read section](https://asc.understandingaccounting.org/asc/605/928/#30-initial-measurement) SEC content: no ##### [605-928-30-1](https://asc.understandingaccounting.org/asc/605/928/#605-928-30-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:26.615Z to 2026-09-10T00:48:26.615Z Record version: sha256:e432519e85ee4bbeb03908cb5a6ead90fbc4f19656c75b3aeb17fcf3bc618937 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/). Source downloaded (UTC): 2026-09-10T00:48:29.629Z to 2026-09-10T00:48:29.629Z Record version: sha256:a8396d7039ab26829917964f408b36aa90260b6c3b3422226f7911c0e63876b3 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 605-928-60: 60 Relationships [Read section](https://asc.understandingaccounting.org/asc/605/928/#60-relationships) SEC content: no ##### [605-928-60-1](https://asc.understandingaccounting.org/asc/605/928/#605-928-60-1) Pending content: no Source downloaded (UTC): 2026-09-10T00:48:29.629Z to 2026-09-10T00:48:29.629Z Record version: sha256:9e63742416e01e1b75b71ba37091b46effc9a06ea5609fcf615d157b754103ef Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. [Paragraph superseded by Accounting Standards Update No. 2014-09](https://asc.understandingaccounting.org/updates/asu-2014-09/).