Record label 360 deals can impact artists’ intellectual property rights
Artists are offered a variety of deals and opportunities every single day. Unfortunately, there are plenty of legitimate looking businesses that.and what the
One of the most recent types of record contracts to emerge is known as a record deal. And if your band is presented with one of these contracts, you should know exactly what this type of deal is before you sign. While these contracts can work to your advantage, they also carry a different type of risk than other contracts. First things first — what exactly is a record contract? With traditional record contracts, artists are typically fronted money from the label to record an album, and then the record company takes a percentage of record sales after the album is released in addition to recouping the advance. In a deal, however, the record company has a hand in most or all aspects of the band, including the aforementioned touring and merchandise revenue.
Since it is getting harder and harder to make money in the music industry by selling albums alone, record labels are turning to so-called deals. These deals let a record label take a piece from all of the income earned by a musician, not just their album sales. Under deals, also called "multiple rights deals," record labels may get a percentage of things that were previously off-limits to them, like concert revenue , merchandise sales , endorsements , and ringtones. In exchange for getting a bigger cut from the artists they represent, the labels commit to promoting the artist for a longer period of time and are supposed to actively try to develop new opportunities for them. In essence, the label will function as a pseudo-manager and look after the artist's entire career rather than only focusing on selling records.
I will however give you some information on what deals are so that you can form your own opinion—and make better business decisions as an artist. Album sales have been on a steady decline since the days of Napster, and with cloud based services like Grooveshark and Spotify on the rise, the need for physical CDs is diminishing. The record business is dying because way fewer people are buying records. The music business on the other hand is still very much alive. Record labels know this and are looking for other ways to cash in on their investment besides traditional album royalties.
Record Deals – The Full 360
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One of the most recent types of record contracts to emerge is known as a record deal. Over the past decade or so, these types of contracts.
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