There are number of other key points in that recording agreement, but when it comes to getting the money here are 5 things you’ll definitely want to know. Here’s the first thing you need to know. A record deal is NOT designed to pay the artists. The second thing you need to understand is that the label will own those “master recordings”.
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- As I think about how to explain a record deal,…I'm thinking back to that cocktail party…we went to in our first lesson,…about the big picture of the music business.…Last time we were there, your buddy…from high school, who'd gone to law school…and was gonna become a big lawyer,…asked you what you were working on,…and you told him you were in a band.…And you could just tell by the look on his face,…that he thought you were freaking crazy.…But he said, "Cool, cool."…Well, imagine we're back at another party…a year later, and we he asks this time,…you tell him, "It's going great, man.…
My band just got signed to a big…record deal with Big Time Records."…And so instead of rolling his eyes, this time…he wants to know, "How does that record deal…work, man, how much do they pay you?"…Here's what's you're gonna tell him.…There are a number of key points…in a recording agreement, which we'll…talk about at the end of this lesson.…But when it comes to getting the money, there are…five things you'll definitely wanna know.…
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