Negotiating Recording Deals:Tips
Musicians live for the day they shall get a recording deal. But is common in the excitement of having received one, to forget about the terms therein, which leaves them with the least possible earnings. There are a lot of complexities involved in record deals. This is why you need to each how you go about negotiating such a contract. You need to take time to read more on what you need to pay attention to.
You need first to get an attorney. They are skilled at handling these negotiations. They know how to handle all the legal terminologies and terms found in the entertainment business. You need to think hard before trying it out on your own. IF this is your first deal; you do not need continued attorney services. You do that when you start getting them aplenty. The best ones make a point of being present at all negotiation meetings. You can find a good one online, on websites that advertise their services.
Royalties is how an artist gets paid for their work. The royalties pay an artist the lesser percentage of the sales. Your percentage is usually on the lower side. The rest goes to the recording company. The best thing to do in such cases, therefore, is to negotiate for the highest percentage of the sales as your portion of royalties. There are even contracts that require you to foot the packaging bills for the records. This lessens your earnings even more. You need the attorney to help you get the highest percentage if that is the case.
You need to practice more care where multi-album deals are involved. These multi-album deals are usually what most musicians dream of. But they have a heavy negotiation price to pay. Once you enter into an agreement, it shall be hard to pull out if you are not happy with what you get from the first album sales. If you are lucky, you may end up dealing with a company that does not have an issue with you renegotiating after you have made the first album. If not, you are stuck with it as it is. You therefore need to be extra cautious about the structure of a multi-album contract before signing it. You need it to expressly state that you have the chance to renegotiate after you are through with each album.
You need to keep these tips in mind when you receive a recording
deal. Do not leave anything to chance. Go in prepared if you wish to get the best out of it. However great you are at negotiations, let the experts do it for you.
You will get even more advice here.