From the course: An Insider's Guide to Today's Music Biz: 7 Record Labels

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From the course: An Insider's Guide to Today's Music Biz: 7 Record Labels

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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…

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