360 degree contracts
- Thread starter Dugsy
- Start date
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Beat This!The next Beat This! Competition is from November 27-28th!
God
Creator of the Universe
ill o.g.
These are new. Generally involves recoupment not only off points on the album but mostly everything involved with the band. The record company thus receives a portion of ticket sales, merchandise sales, side-revenue deals, etc. So, your manager, agent used to get a cut of everything you make. Now - the record company wants to get in on their action -- except of course, with the caveat that they will "promote" you more than the other acts, since they make money off you (fair exchange.)
Think of selling your soul - and then think of something worse than that. That's what a 360 contract is.
Think of selling your soul - and then think of something worse than that. That's what a 360 contract is.
I know what the 360 contract is...i want one to give to an artist .....the thing is the way the music industry is moving with the decline in sales and such, a record company, especially an independent has to come up with new ways to make money and a 360 degree contract is just one of them. Its not really a sell your soul thing.Its more like saying to an artist that i will do all the production and promotion work for you and in turn i will get a piece of ticket sales at concerts and sale of merchandise. Its a a give and take thing.Both parties will benefit.
shadeed
Go Digital or Go Home
ill o.g.
Sad thing is many artists who are currently on a label but aren't under 360 deals are not and will not be getting release dates anytime soon.
So the next time an artist drops a new single that sells 3 million ringtones or claims to be making "$30 grand a show" please know that everything is not really what it seems or as is promoted.
Dugsy - If you're in the position to "give" an artist a deal, then I suggest you consult a lawyer
and just have the deal drafted up from scratch.
In general, the whole purpose of a contract is to outline terms to protect both parties.
My concern is that if you present a "cookie cutter" contract, if the artist you mentioned turns around and is actually successful he can/will hire representation to "loophole" his/her way out
of the contract.
Plus there are many negotiation points in a 360 deal - If I know I have a "Ringtone Cash Cow" on my hands but I anticipate that they won't sell a bunch of merch, then I would structure the deal differently. Good luck though.
So the next time an artist drops a new single that sells 3 million ringtones or claims to be making "$30 grand a show" please know that everything is not really what it seems or as is promoted.
Dugsy - If you're in the position to "give" an artist a deal, then I suggest you consult a lawyer
and just have the deal drafted up from scratch.
In general, the whole purpose of a contract is to outline terms to protect both parties.
My concern is that if you present a "cookie cutter" contract, if the artist you mentioned turns around and is actually successful he can/will hire representation to "loophole" his/her way out
of the contract.
Plus there are many negotiation points in a 360 deal - If I know I have a "Ringtone Cash Cow" on my hands but I anticipate that they won't sell a bunch of merch, then I would structure the deal differently. Good luck though.
shadeed
Go Digital or Go Home
ill o.g.
It may be a "dumb" idea, but its the model that labels are shifting to. The label has the leverage, and if you haven't put in your groundwork as an indie, then you'll take the deal that's offered.
MANY artists just like to focus on certain aspects of music (recording and/or performances) and don't want to be business people/moguls , which is what you ultimately have to become as a successful indie these days. Some artists like the idea of having "someone in their corner" promoting etc, which is why the major label system is always a viable option.
What's really going to shock musicians is when the major INDIE labels employ this practice across the board.
Yeah that would be Ill indeed, that would take away all hope actually.
God
Creator of the Universe
ill o.g.
Holy shit... Relic - hold me back....
Dugsy:
Who the fuck are you that can realistically generate enough promotion and media coverage for your artist when you can't even have a real lawyer draft a REAL fucking 360 contract for you?
You're going to lead your artist into the shitter and fuck up his career forever because YOU DON'T CARE that their career will be screwed. On top of that - how are you realistically going to recoup anything? You have to come to this board to find something a lawyer should draft you? That means you probably don't even have the fucking money to get a real lawyer.
If you can't afford a real lawyer to draft you a contract then:
1. You can't afford real radio promotion.
2. You can't afford real television promotion.
3. You can't afford real ad buys.
4. You can't even have a PR firm send out press releases on your artist. Guess what - they cost a lot now too.
You have that? You're talking a lot of money here for someone to sell their soul and their next of kin to you.
Why don't you just manage the guy instead, or are you and now you're double-dipping?
The ONLY reasons why I WOULD if necessary SELL MY SOUL for a 360 contract is:
1. I am guaranteed a release date and heavy promo dollars.
2. I am with a major label that has a LOT of leverage regarding PR and media.
3. I will get screwed out of money, but now I'm ahead of the other artists on the roster who - even though they're better than me - won't BRING THEIR LABEL enough money as I will because I'm in a 360 deal.
You aren't even in a position to give this cat a 360 deal. Seriously, this shit's sad as hell. You're gonna rip this guy off.
First of all u pussyhole, all i said was that i wanted a copy...i never said i was going to use it. How the fuck u know what i can afford from what i cant, u just assuming and making an ass of yourself.
Secondly if i decided to go into a 360 arrangement with someone it would be their decision and they would be ok with inking the deal so i dont know why the fuck it is bothering u.
Thirdly stop calling your self god u fucking idiot.
Oh and lastly...go suck your mother
Okay now everybody is even , you have both sufficiently insulted one another..
Lets keep the arguments to a proffessional level, no matter how many cocktails you had at your cocktail lunches
(Im jealous, I want one)..
Besides making logical arguments makes it more entertaining to me.
AKA---STOP CUSSING EACH OTHER OUT.
Lets keep the arguments to a proffessional level, no matter how many cocktails you had at your cocktail lunches
(Im jealous, I want one)..
Besides making logical arguments makes it more entertaining to me.
AKA---STOP CUSSING EACH OTHER OUT.
T
The Arkitekt
Guest
i think its entertaining either way
God
Creator of the Universe
ill o.g.
LMAO.
What's your budget for the artist? Is it more or less than $250,000?
You said you wanted to use one, that's why I assumed you wanted one.
Cheers,
God
Greg Savage
Ehh Fuck you
ill o.g.
Gotta love the net
Odd....
My assumption (and PLEASE correct me if I'm wrong) is that this person does not have the resources to supply such a deal. Because if he did, he would USE those resources to investigate such a contract.
Also, a 360 deal is basically spreading your cheeks and telling the label that it's ok to not use grease.
But hey, it "gets yo moms out the projects"...
BTW..that Bentley is only part-yours.
My assumption (and PLEASE correct me if I'm wrong) is that this person does not have the resources to supply such a deal. Because if he did, he would USE those resources to investigate such a contract.
Also, a 360 deal is basically spreading your cheeks and telling the label that it's ok to not use grease.
But hey, it "gets yo moms out the projects"...
BTW..that Bentley is only part-yours.