Members Bassyeti Posted October 1, 2002 Members Share Posted October 1, 2002 I have been reading alot about record companies completly ripping off bands and giving them practicly nothing for all the money that the band made for the label. How do you avoid getting ripped off by a record lable but not invest in a $500 an hour lawer to go over the contract with you and still get a good deal? Link to comment Share on other sites More sharing options...
Members jonosing Posted October 1, 2002 Members Share Posted October 1, 2002 The best way to net get scewed it seems is to not deal with them. Guessing that's not an option for you, then you should consider the lawyer. The problem is this: you want what a record label can give you. You want it real real bad. They don't care one way or the other. If you were in a relationship with a chick, and you wanted her real bad, and she could care less about you, would you want to continue it? If you're getting major interest, take it to a smaller label. You're almost sure to get a better offer (or at least more transparent). If not, don't worry yet. Take your time and go slow. Learn the business, and don't sign ANYTHING without a lawyer looking at it. $500 an hour seems like alot, but not when you're getting screwed out of much much more. Link to comment Share on other sites More sharing options...
Members Treves Posted October 1, 2002 Members Share Posted October 1, 2002 You can always DIY (do it yourself) - educate yourself, then do all the things for yourself a label would do (promote, manage, etc). It's not easier, but it is an alternative. Link to comment Share on other sites More sharing options...
Members Greenshoe Posted October 1, 2002 Members Share Posted October 1, 2002 There's no 'foolproof' way, but the best thing you can do is to know how the business side of it works - go to the bookstore and invest in a book - the best one being "This Business of Music", which is a great reference guide but could be a bit dense, depending on your general business/legal background. Secondly, know how the money works. Labels need to make money, and the money they give you is essentially like a loan (actually, more like venture capital financing, but I digress). The more they give you, the bigger and sooner the payoff they expect. It is a business relationship between the band and the label. The majors aren't going to give you a deal that's 'fair' but a deal that is best for them AND good enough to get you satisfied. Not because they're labels, but because it's business. These guys aren't all evil, but they're businesspeople. Perhaps the ideal way is to release records yourself independently for a while even on a very small scale, so you have firsthand experience on the business side of music - namely the production, distribution, and promotion - you'll have a better idea about how to best reach YOUR audience and if or when that major comes along, you're more business savvy and can probably negotiate the terms with more credibility than 'just a bunch of starry eyed dreamers." Just a thought. Link to comment Share on other sites More sharing options...
Members Scheming Demon Posted October 2, 2002 Members Share Posted October 2, 2002 No matter what label you end up dealing with, if you have no proven track record you have absolutely no bargaining power whatsoever. You pretty much have to take what they offer or not. They will not negotiate much. The best protection is to make the term as short as possible. Once you have a successful track record than you've got bargaining power. BUT... you've got to get into the game in the first place to get a track record. Link to comment Share on other sites More sharing options...
Members garageman Posted October 3, 2002 Members Share Posted October 3, 2002 don't sign the "letters of intent" just locks you in for a time period without you beingable to get out. Makes your negotiating strength rather weak. Finally, not just any lawyer will do. You will need someoneexperienced in entertainment law. Always, always, always remember..... Any deal that seems too good to be true is just that. Link to comment Share on other sites More sharing options...
Members Bassyeti Posted October 3, 2002 Author Members Share Posted October 3, 2002 Thanks for all the feedback its been an awsome help. Link to comment Share on other sites More sharing options...
Members StratKat Posted October 3, 2002 Members Share Posted October 3, 2002 If you go the lael route you pretty much will end up with a contract that gives them the lion share no matter how good a negotiator you are. You are doing the best thing right now by seeking information in books, the net, reference material, and band histories. Keep it up and learn the ins and outs as best you can. Then when the deal is laid out get a good music lawyer to insure there are no UNKNOWN traps you may have missed on your own. Contact bands of the same genre you play via their fan sites and fan clubs. Usually the president of a fan club has some contact with the group and can get serious and intelligent questions answered by the band about management, production, labels, lawyers, and the like. It may take awhile since it is a back door approach but sometimes it works. But overall, i think if you are going to be signed the label has the clout, and the money, so they will always be setup to come out ahead if there is any profit for the first two or three albums. After that you have a track record and SOME legitimacy with labels to try and work better deals. Link to comment Share on other sites More sharing options...
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