Kanye West The music industry has a new look at the record deal – and its guidelines are huge in favor of artists and making money for them.
You’ve tweeted several columns that we expect to be a record label executor in its terms and conditions – except that it’s the one that believes business as a whole should adopt the status quo … so that Artists can stop provoking and be a compatible. Participate in the product he puts out.
For starters, Kane says the artists themselves will own the copyright to the songs and recordings they label in their ideal world, and they lease them to companies for just one year.
He also says that the label / publisher of the record will not receive a lion’s share of the profits during that one year … you think it should be split 80/20 in favor of the artist.
There is more. Kane also thinks that artists shouldn’t need anyone to break them again when they navigate their own deals – as if he thinks you’re working in music, without any help from you. Let’s understand it from top to bottom. He also wants the agreement to be written in plain English, not the lawyer’s speech. He says lawyers make things easier … they don’t complete the process.
He goes on to say that artists are entitled to equity in the companies they partner with, and that their songs and licenses should somehow serve as stock. Kane also wants to create a one-stop shop for artists, royalties, deals, property, songs, etc.
You end up with this thinking … while what he is saying may seem like common sense, this is not how it was implemented. He also makes it clear that artists have as much power here as they need.