Kill the Hype of getting a Record Deal!
It’s been a while since I’ve written an updated blog post. I was inspired by a conversation with an upcoming producer about independent artists and what’s the fine line of record deals.
Firstly, what is a record deal? According to Wikipedia, “a recording contract (commonly called a record deal) is a legal agreement between a record label and a recording artist (or group), where the artist makes a record (or series of records) for the label to sell and promote. Artists under contract are normally only allowed to record for that label exclusively; guest appearances on other artists' records will carry a notice "By courtesy of (the name of the label)", and that label may receive a percentage of sales”. Most of the time artists look forward to the big check that comes with a big name in stars. But do they really know what the big check entitles? Everybody just wants to be successful, thanks to Drake now and later, but do we really know the blood you sign to be a success story in the music industry? I don’t think so!
Secondly, all record deals aren’t for your best interest! Just because a record deal has 3 million dollars attached to it, doesn’t mean you are a millionaire. You have officially become the homeless man you drove past to get to the record label. There is no such thing as free money in the music industry, believe that! If you became an artists but prefer being a ghost writer, will you be able to produce the record label 3 platinum selling albums? Know your worth and don’t overestimate/ underestimate your value.
Thirdly, getting your family out of the projects should be the last financial burden you invest in after getting the record deal. Make sure you understand ALL FINE PRINT, when signing the taxable name on the deal. Everything you had to do and pay for before the record deal continues. Mixed/Mastered Music, Copyrights, Producers, Studio Sessions, Street Team, Campaigns, Shows, Concerts, Managers, Support Staff, etc; comes from your budget a.k.a. your record deal. Don’t let the green overshadow the black print.
