I have a new studio that is in a professional setting not in my home. If I record and produce an album on spec for an artist, what is the going percentage I should ask for in return and what is that percentage tied to?
The other situation is if I record and produce an album but then also pay all the expenses to put that album out, what should I ask for in return?
I am concerned with the fact that an artist could take the record and get a deal with it and then I would get nothing in return for use of my studio, my time, and my investment. I am more interested in having a percentage of future earnings versus just getting reimbursed for the studio time and expenses.
Thanks for any help
Comments
In the FWIW department... Most spec deals don't pan out the way
In the FWIW department...
Most spec deals don't pan out the way either party thinks they will and as a matter of choice we don't do spec deals anymore. Both parties think that they are getting the best deal possible unitl the artist goes big (in which case the artist doesm't want to honor the deal) or the artists fades from memory and the recording studio is left holding the bag. Best to get your money UPFRONT.
Sorry to put a damper on this but I have learned from experience.
-TOM-
FWIW Thomas W. Bethel wrote: In the FWIW department... Most sp
FWIW
Thomas W. Bethel wrote: In the FWIW department...
Most spec deals don't pan out the way either party thinks they will and as a matter of choice we don't do spec deals anymore. Both parties think that they are getting the best deal possible unitl the artist goes big (in which case the artist doesm't want to honor the deal) or the artists fades from memory and the recording studio is left holding the bag. Best to get your money UPFRONT.
Sorry to put a damper on this but I have learned from experience.
-TOM-
Very, very true. However, I'd like to add that the chances are much greater that the artist is never heard from again, than they become some fabulously (or even a teensy tiny bit) succesful rock star.
The fact that they aren't commited enough to pay the decent cost for a decent recording should be your first warning sign.
That's why you make a contract. Discuss it with your artist bef
That's why you make a contract. Discuss it with your artist before you start and you both decide what's fair and you both sign on it. That way there is no surprises, no hard feelings and you both enter in an agreement with your eyes wide open.
Now as to what percentage is fair, seems that you have a dual role: producer and recording studio, or even record label. You can put a price for your studio services and recoup that first, or you can just go with a package deal that will give you a percentage of future monies. Of course if you are the record label and sell the production to another record label the percentage will be much bigger than for being just a producer.
Bottom line, though, be fair. If you believe in your artist and are willing to take a chance, discuss it with an open mind and arrive to something you both can live with. :o :D :) (y)