anonymous
26 May 2010
Ive just recently been offered a production contract and I would like to move forward with it. They've handed me a pretty general contract and want me to add or change what i want on it. Ive been looking up a lot on whats standard as far as dividing money goes but I'm still not sure how to deal with my particular situation. The deal is with 2 other performers and myself. I wrote everything from lyrics to instrumentation and i also know how everything needs to be produced. The company is recording, co producing, and developing us in hopes to take us to the next level. What should i be looking for as far as royalties and ownership. especially as far as owning the masters?
Comments
I think it would be best to talk to a music lawyer. There's a lo
I think it would be best to talk to a music lawyer. There's a lot to go through. As far as owning the masters, good luck on that. That's gonna be tough to do. There aren't many, or should I say any, labels that will easily let go of those. If you can work it into the contract, that would be awesome but something tells me you'll have to buy them if that is even an option.
Generally, songwriter gets 50% of the songwriters royalties and 50% goes to the publisher. There may be ways around this, like being your own music publisher. You probably know this already. Work those details out with your lawyer. You NEED a lawyer. One mistyped phrase can set you back more than you're willing to give up. If they are offering an advance, it's a good idea not to take it. Better to get more points in royalties.
There's also mechanical rights which is where your bandmates will be making their share of the royalties. Don't mess this up. Free advice is never good enough. What you pay out to get good advice will pay you back in return should there be any reasonable amount of money to come in.