I guess an album would be the same, but lets just keep thing simple. Please tell me if I am understanding all this correctly.
Ok so we start at the beat. Say AG Beats made a beat. Now lets say im not just leasing it online or whatever, Im going exclusive with an artist.
First, we work out the upfront fee, if there is one.
Second, we work out ownership. For this case lets say 33.3% to AG Beats, Producer
33.3% to Artist 1 of group and 33.3% to Artist 2 of the group.
Third, we draft some sort of contract stating that we each own 33.3% of the song.
Fourth, we copyright the song.
Fifth, we register the song with a PRO. *** WHAT IF I AM BMI AND THE ARTIST IS ASCAP??? *** What if the station playing the song is paying out to ASCAP and I am BMI?
Sixth, we start distributing the song in whatever way we choose. Say CD Baby for instance. Then we get money from spins on the radio stations so long as they write it on the cue sheet, we get money from itunes/cd baby, and we get money from where ever else, and since we took all the right steps of registering the ownership of the material we all pretty much just have to collect the money and file taxes on it right?
Selling music is looking pretty expensive! A lot of costs between registering your copyright, paying fees to aggregates like CD Baby or Tunecore, paying the submission fees to register with BMI/ASCAP/PRO's, and the costs of promotion, physical CD's, recording and yadda yadda, but as far as legally getting income, and CLEARLY STATING who gets what % of all money, these steps are correct, right?
All that work of registering and drafting contracts makes sure that everyone who is entitled gets their share right? Where can I go to figure out what all needs to be stated in the contract?
Im hoping this can be a really good thread for the FP community. I think I have most of this right, so someone who knows like Troup maybe, or Drew, or Legal, or any of the heavy weights it would be cool if you chimed in. That is if this info isnt too secretive
I mean honestly, I dont understand why more people dont start taking music seriously. Once you get into the business side, how the money is made starts to become so much more clear. It just seems like the music industry is an industry that closely guards its secrets!
Ok so we start at the beat. Say AG Beats made a beat. Now lets say im not just leasing it online or whatever, Im going exclusive with an artist.
First, we work out the upfront fee, if there is one.
Second, we work out ownership. For this case lets say 33.3% to AG Beats, Producer
33.3% to Artist 1 of group and 33.3% to Artist 2 of the group.
Third, we draft some sort of contract stating that we each own 33.3% of the song.
Fourth, we copyright the song.
Fifth, we register the song with a PRO. *** WHAT IF I AM BMI AND THE ARTIST IS ASCAP??? *** What if the station playing the song is paying out to ASCAP and I am BMI?
Sixth, we start distributing the song in whatever way we choose. Say CD Baby for instance. Then we get money from spins on the radio stations so long as they write it on the cue sheet, we get money from itunes/cd baby, and we get money from where ever else, and since we took all the right steps of registering the ownership of the material we all pretty much just have to collect the money and file taxes on it right?
Selling music is looking pretty expensive! A lot of costs between registering your copyright, paying fees to aggregates like CD Baby or Tunecore, paying the submission fees to register with BMI/ASCAP/PRO's, and the costs of promotion, physical CD's, recording and yadda yadda, but as far as legally getting income, and CLEARLY STATING who gets what % of all money, these steps are correct, right?
All that work of registering and drafting contracts makes sure that everyone who is entitled gets their share right? Where can I go to figure out what all needs to be stated in the contract?
Im hoping this can be a really good thread for the FP community. I think I have most of this right, so someone who knows like Troup maybe, or Drew, or Legal, or any of the heavy weights it would be cool if you chimed in. That is if this info isnt too secretive
I mean honestly, I dont understand why more people dont start taking music seriously. Once you get into the business side, how the money is made starts to become so much more clear. It just seems like the music industry is an industry that closely guards its secrets!
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