From the course: Music Law: Recording, Management, Rights, and Performance Contracts
Unlock the full course today
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
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…
Contents
-
-
-
(Locked)
Why bother?2m 42s
-
(Locked)
The grant3m 19s
-
(Locked)
Term and options2m 1s
-
Advances and royalties5m 2s
-
(Locked)
Deductions4m 43s
-
(Locked)
Controlled composition3m 56s
-
(Locked)
Creative control4m 4s
-
(Locked)
Leaving members2m 22s
-
(Locked)
Copublishing3m 19s
-
(Locked)
Marketing provisions4m 7s
-
(Locked)
Warranties and indemnity2m 56s
-
(Locked)
One-offs3m 45s
-
(Locked)
-
-
-
-
-
-