Record contracts have spawned a whole litany of legal jargon and terms to cover every conceivable scenario in a record deal with an artist. I’m going to focus on the key points of a record deal that you should understand based on my own experience as a manager. Along the way I’ll explain some of those key contract terms you’ll become familiar with sooner or later. When we are done you’ll probably be a little sad or angry, but you’ll be alot wiser too. First you’ve got to make a deal. So let’s talk about exactly what you are signing up for.
- I think for most artists, if they're being honest,…they dream about getting signed to a big record deal,…having a bunch of hit singles,…and selling tons of albums.…For some folks, it actually happens.…I'm going to assume now that you've taken all my advice…and now you are the one that's finally…being offered a record deal.…There are so many things to cover in a record deal,…it would take weeks to cover them all.…That's why it's not uncommon for those record contracts…to be 100 pages long.…
Record contracts have spawned…the whole litany of legal jargon…and terms to cover every conceivable scenario…in a record deal with an artist.…In most cases, you need a diagram…to keep track of all the lingo…and the references to different sections of that contract.…So much, that it can actually just drive you crazy.…So, in this lesson,…I'm not going to try and cover every possible detail…in that recording agreement.…I'm a manager, not an attorney.…So, when it comes time to make that record deal,…you're going to hire an experienced music business attorney…
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