![]() As it is written, these options are in the label’s sole discretion. This language states that the record label shall have one “firm” or “committed” album release with the “option” for up to three additional albums, totaling a potential four album deal. ![]() (ii) The date six (6) months after the last day of the month in which Company commercially releases the Album made in fulfillment of the Recording Commitment for the first Contract Period in the United States. (i) The date twelve (12) months from the commencement of the particular Contract Period or (c) Each subsequent Contract Period will run consecutively, commencing upon the expiration of the immediately preceding Contract Period, and will continue through the later of: (ii) The date six (6) months after the last day of the month in which Record LabelĬommercially releases the Album made in fulfillment of the Recording Commitment for the first Contract Period in the United States. (i) The date twelve (12) months from the date hereof or (b) The First Contract Period will commence upon the date of Execution and will continue through the later of: The second Contract Period will be called the “Second Contract Period,” the third Contract Period will be called the “Third Contract Period” and the fourth Contract Period will be called the “Fourth Contract Period”. Each option to extend the Term for an additional Contract Period will be exercised automatically. LABEL will have three (3) separate and successive irrevocable options, each to extend the Term for a further Contract Period. TERM – (a) The Term will consist of an initial contract period (“First Contract Period”) and each of the renewal contract periods (“Contract Periods”) for which we will have exercised the options set forth in the next sentence. Similar to management agreements, the “term” or length of the agreement is of paramount importance. To better comprehend this contractual relationship, let us now review a series of common clauses included in many standard record label agreements. Once an artist selects the appropriate distribution entity, it is standard practice for the parties to enter into an agreement outlining the deal points. In addition, there has been a recent rise in “digital only” record labels that function like traditional record labels but, solely distribute music digitally. There are also a variety of independently owned record labels such Sub Pop Records, Epitaph Records and Norton Records, who operate and distribute works on their own. For example, “Cash Money Records” is a “vanity” label distributed by Republic Records, which is under the Universal Music Group umbrella. These act as smaller distribution companies where a producer or an artist signs additional artists or producers to this imprint and the “vanity” label then is dispensed to the public by a larger entertainment entity. In addition, many major labels have also established “vanity” labels. For instance, there are still a variety of major recording labels, such as Capitol Records, Columbia Records, Interscope Records and Atlantic Records however, most of these are owned by other larger entertainment entities such as Warner Music Group, Universal Music Group or Sony Music Entertainment. ![]() Today’s recording industry landscape has significantly changed from its earlier roots, with many of the older, independent labels being sold and merged into each other. Record labels are also involved in digital distribution by providing the work as digital downloads (MP3 format) in digital stores such as iTunes Store and on digital music streaming platforms, such as Spotify and Pandora. These companies dispense the musician’s recorded music through a variety of channels, including to “Big Box” Retailers such as Best Buy and Target. If an artist utilizes a third-party distributor, one of the industry’s most dominant distributors of recorded music is the recording or “record” label. Distribution is generally handled by a third-party on behalf of the artist unless the artist independently distributes their own music themselves. Once a musician has finished its product (music), the music is then distributed to the public for sale, either physically (CDs, vinyl), digitally (MP3 downloads, internet streams) or in both formats. We now start our initial examination of a few selected clauses from a standard recording industry agreement, better known as a “record deal.” In our prior installment, we examined the artist and manager relationship and explored a variety of standard clauses as well as negotiations tactics. ![]()
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