This month marks the 47^th Annual Conference for the Broadcast Cable Financial Management Association, which will be held in Las Vegas just 10 days from now.

May is also the month that our long-awaited second edition of Introduction to Broadcast and Cable Finance: A Handbook for the Non-Financial Manager will go to the publisher. 

Since BCFM (and its Broadcast Cable Credit Association subsidiary) is an educational association, it should come as no surprise that most of the topics covered in the handbook will be addressed during the BCFM conference .

It should also come as no surprise that our conference presentations will encompass not only the basics, through our "101" sessions, but will also include sessions designed to update the industry's more knowledgeable veterans on issues affecting our businesses.

The BCFM Conference won't be "all work and no play." Members tell us that some of the most valuable information they take away from the conference is often obtained during the informal networking events. 

We are fortunate to have a couple of these events sponsored by two of the three premiere music licensing organizations in the U.S.—BMI and SESAC.

Both will bring a singer-songwriter to perform for attendees. BMI will help to cap our three-day event with a performance by singer-songwriter David Pack, who is best known for his role as the lead vocalist for Ambrosia.

Earlier that same day, SESAC will bring us the music of PJ Morton Jr. and the "nu soul" sound of his band, Freestyle Nation, during lunch.

Thanks to BMI and SESAC, we often get to enjoy both accomplished and up and coming artists like PJ Morton Jr. and Freestyle Nation.

Platinum artists like David Pack not only treat us to the nostalgic sounds of their former hits, but also invite us how their talents have evolved.

For those of us who buy into stereotypes, it may be hard to picture your CFO, controller or collections manager rocking out to Pack's Holdin' On To Yesterday, or the music of Freestyle Nation's Freeversation project.

But trust me, they can sing "I've go the music in me" as honestly as anyone else in your organization. After all, they have chosen to work in the entertainment industry.

But what do performances by singer-songwriters have to do with "Introduction to Broadcast and Cable finance …"? A lot, actually. One of the expenses that finance people love to hate is music copyright payments.

Add to that the recent outcry over moves by the RIAA to significantly increase the fees owed for Internet music and new contractual terms covering the use of music in televised newscasts and other non-musical programming and you can begin to understand why music is a hot-button issue.

Performances by singer-songwriters help to remind us that there is another side to the music copyright issues.

One of the chapters in the next edition of the BCFM handbook explores music licensing. The issue has its roots in U.S. and International copyright law.

Basically, musical composers have a performance right for which they must be paid each time there is a public performance of their composition. Music licensing organizations handle the negotiations for these performing rights so that the artists are free to focus on what they do best—writing music. 

In addition to providing memorable networking events for our conference attendees, performances by singer-songwriters humanize the music licensing issue and remind us how important the creative community is to our businesses.

For every Bob Dylan, there are hundreds, perhaps thousands, of lesser-known artists who struggle to make ends meet. 

All good business and finance people know that the quintessential good business deal is one in which all parties involved get a fair return on their investment.

Thanks to BMI and SESAC, BCFM conference attendees will have the chance experience first-hand an outcome of their companies' investments.

This is certainly an instance where I hope what happens in Vegas doesn't stay in Vegas.

Mary Collins is the president of the Broadcast Cable Financial Management Association, a professional society for financial, MIS and HR executives in the electronic media. Her column appears here every other Friday. She can be contacted at mcollins@bcfm.com or 847-716-7000.