From the course: Music Law: Recording, Management, Rights, and Performance Contracts
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Term and options
From the course: Music Law: Recording, Management, Rights, and Performance Contracts
Term and options
- How long does a record contract last? That is, how long does a musician have to furnish recordings exclusively to the record label? This period of time is called the term. There is typically an initial term of 12 months to make the first recording, and subsequent one year terms, known as options, to make other recordings. Independent record companies usually seek options for one to three albums. Majors typically seek four to seven. For a musician, it may be tempting to sign a deal providing for many options. After all, it's a multi-album deal. How exciting is that? However, because these are options, the musician is guaranteed only the first album. If the label doesn't want to continue, they don't exercise the option, and drop the musician, and that's it. By doing it this way, the record company lowers its risk, and increases its chance of making a profit. Because there is no guarantee that options will turn into recordings, it benefits the musician to limit options to as few as…
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