What Does A 360 Record Deal Mean?
There are two types of 360 Record Deals. 1) 360 Record Deal 2) Full 360 Record Deal
The average 360 Record Deal may include you only giving up a percentage of your touring and merchandising income. Some but not all record labels have the heart to do this. You can find this done mainly by independent record labels. The majority of record labels sign their artists to a Full 360 Record Deal. Meaning labels are demanding a portion of an artist’s income from touring, publishing, endorsements, and sale of merchandise. Not only that but also book deals, movies the artist stars in, and income from fan clubs.
That’s not all! On top of that record labels want to deduct from the artists share of income – 50% of all independently contracted marketing, promotion, and publicity costs; and also 100% of the cost of making music videos and 50% of website costs. The website and videos will remain under the control and ownership of the record label, not the artist.
How Many Years Does A 360 Record Contract Last?
Well we have shown you a Full 360 Record Deal Contract Examplebefore, and typically a 5 album deal. This can take anywhere from 7-9 years to complete. No mixtapes or EP’s count towards an LP. Albums are 10 songs and over. Being on a label for almost a decade is a problem in itself that needs to be fixed.
So What Is Wrong With A 360 Recording Contract?
There are many terms within the deal that benefits the record label. And if you are an artist that loves your label and want to give them the majority of what you’ve earned through blood, sweat and tears, then that’s fine. in fact a lot of artist who sign these deals have no problem being a slave to the record label as long as they get a little TV time and $200 in their pocket every month! Think About It.
Under The 360 Deal The Label Attains?
What doesn’t a record label take from you? they own everything under the contract. You own nothing. they give you crumbs while they make billions. It’s up to you to decide if this is right or not. You’re the artist. You make the music!
Can a 360 Record Deal Benefit the Artist?
Short answer is yes. What we are saying here is that the majority of indie artists do not have enough negotiating power due to their lack of clout, experience, fans, concert and album sales. A 360 can only benefit an artist who has already accomplished success on their own. But the issue is that new artists always settle for crumbs.
You don’t have to sign away your life and future income because you are currently broke and want more money and fame. this makes no sense because after 9 years of slaving away for a record label you will end up with nothing and be back in the same situation as you started. i want you to go to Google and search for artist who made millions and went broke. You will see the number one cause was not spending habits, but their contracts. The label took almost everything from them!
Be wise and hold out until you build your fanbase and notoriety, so that you can negotiate terms under the 360 contract that benefits you. I’ve helped artist do it and seen it done, so it can be done. Stay Woke!