Join Richard Stim for an in-depth discussion in this video Why bother?, part of Music Law: Recording Management Rights and Performance Contracts.
- A record contract enables a record label…to sell, license, and distribute an artist's recordings.…In return for granting these rights,…the artist's music is promoted…and the artist is paid a percentage of the sales revenue.…For many musicians, a record contract…is a symbol of success.…Finally, the world will hear their music.…But in all the excitement about landing a record contract,…artists sometimes don't realize how much risk is involved.…
They may be giving up rights to an important recording…and end up receiving little in return.…Record companies, because of their superior…bargaining position, typically have much less at risk.…For example, it's not uncommon for a record label…to make a profit on a recording but with the same time,…the artist who made the recording remains in debt…to the company.…Because the balance of power can be skewed so heavily…in favor of the label, an artist may wonder whether…it's even worth reviewing a record contract.…
Why not just sign it and accept the consequences?…First, an artist who is serious about his or her career…
For example, when it comes to record contracts, it's important to know how advances and royalties work, how to maintain creative control, and what happens when a member leaves a band. Rich also tackles management contracts, describing what managers can do for you—and what to do when you need to let them go. Next, he explores the basic terms, riders, and payment options in performance contracts. Then learn about releases, artwork permissions, publishing and producer agreements, and other types of legal arrangements. Rich wraps up the course with a discussion of oral agreements, attorney fees and roles, and five basic rules worth remembering for every music contract.
DISCLAIMER: This course is taught by an attorney (or other instructor) and addresses US law concepts that may not apply in all countries. Neither LinkedIn (including Lynda.com) nor the instructor represents you and they are not giving legal advice. The information conveyed through this course is akin to a college or law school course; it is not intended to give legal advice, but instead to communicate information to help viewers understand the basics of the topic presented. The views (and legal interpretations) presented in this course do not necessarily represent the views of LinkedIn or Lynda.com.
- Why bother with a contract?
- Understanding terms, options, royalties, and deductions
- Making provisions for marketing
- Including warranties and indemnity clauses
- Hiring a manager
- Understanding performance contracts
- Getting permission to use samples
- Creating a band partnership
- Record keeping
- Going through mediation or arbitration