Now that we understand what a record deal is, the first thing you’ll want to know is how many albums they are committing to Recording Commitment - How Many Albums? Options are totally at the discretion of the labels. If your sales are growing or showing promise the label will continue. If not they won’t. In most deals, your advances and royalties will increase with each option album.
- Now that you understand what a record deal is,…the first thing you'll want to know…is how many albums is that label committing to?…That's called the recording commitment.…A typical record deal would be…for one or two records guaranteed,…or quote on quote firm,…as we say in the record business,…and options for four or five more albums.…Let's talk about those guaranteed records.…Guaranteed albums, it turns out,…may not be guaranteed at all.…As I mentioned earlier,…the label owns those recordings,…and can do just about anything they want…with those recordings,…including choosing not to release a record at all.…
If they choose not to release it,…in most cases, it's tough luck for the artist.…If the label chooses not to put the record out,…there's not a whole lot you can do…unless your attorney can negotiate…a quote on quote guaranteed release.…In that scenario, the label has to release the record…or let you out of the contract if they don't.…That's the good news.…The bad news is they still own those recordings,…and in most cases, as sad as it might be,…
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