i still don't quite fully understand what you mean by that first LP option.
assuming I was the artist, I would get 75,000 upon completion of the album, and sending in the "master" recording?
would they own the master fully? and is there any sort of buy back option? is there anyway to pass up some of the "front"/75000 money, to keep a portion of the original master?
I'm no lawyer, so correct me if i'm wrong... but this is
what i got from it:
If you read inbetween the lines this doesn't mean
you're going to get $15,000 upfront and then $75,000
after album completion lol. It looks to me like 15k and
75k are master/album budgets.
Notice how there are no signs of how much they are
going to go in the red for you FIRST, lol... which is
interesting...
With what money are you going to deliver a master
and record an album?
None, they are the ones providing the money to
cover costs...
So basically that 15k you get after recording the first
master is quickly deducted from costs and the second
75k is deducted as well.
The key lines are:
-
"if any remains after a deduction of recording
costs, if any" (the money they pay you is taken to
cover costs)
-
"inclusive of any advances to the artists,
producers, recording costs etc" (the money the
pay you includes costs for artists, producers, and
recording - in other words, it's to cover costs)
The only signs of money for you is seen in the royalty
section where it states you get around 17%-18%
So basically you ain't getting jack shit until that money
they drop on you is recouped and let's not forget:
- It's a 4 album deal
- They want 20% of everything else you do
Which means you won't see album money BUT the good
news is if you are hot enough those brand extensions
and touring will come in handy.