The Lokkz
The Lokkz Music
I have a few questions
I was reading up about producer ck tracts where the producer still retains rights to the music and the artist keeps rights for lyrics and master recording.
1. In a sample contract it says producer will get paid 5% of net profits. It also says producer will get 50% of stat. Rate. Is this per sale of that particular song?
2. Say I produce a 5 song ep for an artist. He pays me upfront for the work and I still retain rights to the music and he retains rights to the recording. Would I get 5% of all album sales and 50% of 9.1 cents for each song?
3. Since it's 5 songs, I would calculate 9.1 X 5 = 45.5, therefore I would receive 50% of that per copy sold plus the 5%?
4. So if they sold 1 million copies I would calculate (50% X 3/4 X 45.5 X one million) and I would make $170,625? Then add 5% of 1 million copies at $6 a copy ($6,000,000) which equals $300,000 if there is no expenses. I would earn a total of $470,625. Is that correct? Is this how the royalties are paid or am I calculating it wrong?
5. Also when you are dealing with an artist who is doing it on his own, is he responsible for paying out the royalties himself or is there anything that automatically takes it out? say he is using iTunes or an online distributor, doespecially anyone have an automatic royalty payout or is it up to him to calculate the royalties and pay it however often it is stated in the contract?
6. If it's the 2nd answer in #5, how do producers keep up with how much they have sold and make sure they aren't getting screwed?
Sorry for so many questions. I just want to make sure I'm on the right track.
I was reading up about producer ck tracts where the producer still retains rights to the music and the artist keeps rights for lyrics and master recording.
1. In a sample contract it says producer will get paid 5% of net profits. It also says producer will get 50% of stat. Rate. Is this per sale of that particular song?
2. Say I produce a 5 song ep for an artist. He pays me upfront for the work and I still retain rights to the music and he retains rights to the recording. Would I get 5% of all album sales and 50% of 9.1 cents for each song?
3. Since it's 5 songs, I would calculate 9.1 X 5 = 45.5, therefore I would receive 50% of that per copy sold plus the 5%?
4. So if they sold 1 million copies I would calculate (50% X 3/4 X 45.5 X one million) and I would make $170,625? Then add 5% of 1 million copies at $6 a copy ($6,000,000) which equals $300,000 if there is no expenses. I would earn a total of $470,625. Is that correct? Is this how the royalties are paid or am I calculating it wrong?
5. Also when you are dealing with an artist who is doing it on his own, is he responsible for paying out the royalties himself or is there anything that automatically takes it out? say he is using iTunes or an online distributor, doespecially anyone have an automatic royalty payout or is it up to him to calculate the royalties and pay it however often it is stated in the contract?
6. If it's the 2nd answer in #5, how do producers keep up with how much they have sold and make sure they aren't getting screwed?
Sorry for so many questions. I just want to make sure I'm on the right track.