What should be included in a music contract?

What should be included in a music contract?

A Music Recording Contract should include the following:

• Recording company details (name, contact info)
• Artist details (group name, names of each artist, contact info)
• Production details, e.g. studio address, recording session dates, control over song selections on the recording, and control over album title.

What are music contracts?

Recording contracts are legally binding agreements, enabling record companies to exploit an artist’s performance in a sound recording, in return for royalty payments. The contract will define a record to include audio-visual devices as well.

Why is it important to have a contract in music?

This is used to regulate tax and legal matters within the band. The important cornerstones of the contract are: distribution of income, band name rights, distribution of jobs, withdrawal of band members, fatality, insurance, possession of instruments/equipment and voting rights within the group.

How do contracts work in the music industry?

Recording contract. Call it what you want, but it all equates to a legally binding agreement between the artist and label. Under the deal, a label generally pays for making, distributing and marketing the recordings. The label also agrees to pay you a set share of money from recording sales – known as the royalty rate.

Do music contracts have to be notarized?

Generally, contracts don’t need to be notarized, as the signed contract itself is legally binding. However, if a potential legal dispute arises between the parties, having the contract notarized can be very beneficial.

What is a 50/50 deal in music?

Many small to mid-size labels offer a “net 50” deal, which means that after they’ve recouped their expenses, you and the record label split profits 50/50. For major label record deals, a typical artist royalty is in the 12-20% range.

How much do record labels pay artists?

Record labels pay two royalties: one to artists, and another to composers & publishers. Artists can receive 10% – 15% of suggested album retail minus packaging costs. Composers and publishers receive 30% or more.

What is a publishing contract in music?

Music publishing contracts are used to set out the legal relationship between writers and music publishers. They deal with the rights in musical and lyrical copyright works, which are separate from the rights in sound recordings (the subject of recording contracts).

How long do music contracts last?

Typically, the initial length of a recording contract is one year. This one year term is generally followed by several option periods, where the record label is free to renew your contract for additional time periods if they like the work you’re producing.

How much does a songwriter make for a 1 hit?

Songwriters are guaranteed a royalty from every unit sold (CDs, vinyl, cassette, etc.). These royalties are paid out differently in different countries, but in the U.S., they come out to $0.091 per reproduction of the song – nine cents every time a song is reproduced/sold.