One of the biggest changes in today’s record business contracts is the advent of the so called “360” deal. That means they want a piece of the touring, merchandising, and music publishing, in addition to the record selling income. So if you are a brand new artist just starting out its highly unlikely you’ll be able to escape a 360 deal without some kind of leverage.
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- One of the biggest changes…in today's record business contracts…is the advent of the so-called 360 deal.…Back in the hay day of the record biz,…labels were selling tons of CDs at inflated prices…based on one or two great tracks on an album.…If you wanted to hear those two tracks,…you had to buy the whole album.…As a result, the labels were making a boatload of cash…and weren't particularly interested…in an artist's live business, selling t-shirts,…or to a lesser extent, their music publishing.…
Frankly, they just didn't need it.…In today's music business, that's all changed.…Today, it's easier to climb Mount Everest…than it is to sell a million albums.…Instead of buying a whole album for 13 or 14 bucks…to hear your favorite song,…you can download it for 99 cents.…So, this new math of today's record business…has had a huge impact on the label's bottom line.…The net effective at all…is that the labels are now demanding…that they get a piece of all the income sources generated…by a successful career.…
That means they want a piece of the touring,…
In this installment of An Insider's Guide to Today's Music Biz, Steve Rennie explores the role of record labels in the music business. He starts by talking about the different types of record labels and what they do, from marketing to manufacturing and radio promotion. Then you'll learn about why you need a record label, how to get a record deal, what a music contract will look like, and how the signing process works. As a little bonus, Steve gives you some insights on your commitments and compensation (advances and royalties) once you get signed.
- Understanding how record labels run
- Finding a record label
- Meeting with A&R and business teams at a record label
- How record labels promote your music
- Negotiating a record deal
- How record labels recoup costs