The world of music has changed so much since the days when The Beatles were being chased around by countless swarms of teary-eyed young fans passing out at the mere sight of the teen idols.
Today it’s not uncommon to pass a top music artist on the street where they no longer have to fight off mobs of screaming fans. Maybe the realization finally sunk-in over the years that music artists are ordinary people like everyone else as anyone can go far in the music industry, but only if they have the right music attorney to back them.
What are Music Contracts?
Music contracts are binding legal agreements usually between a record label and a recording artist or group. These contracts typically state that the artist agrees to submit music recordings per the label's requirements for which the label will promote and sell the content and then pay the artist a percentage of the proceeds.
What may also be included in the document is an agreement with the label to distribute a cash advance to the artist that will be paid back in full at a later time. This money may be used to pay for consultants, vocal lessons, and an image upgrade for the artist. Although there are times when the label will contribute to the artists' image and talent upgrade.
Contracts can be a very tricky thing as the whole document may be looked over again and again yet you still may have missed that one single word that can have you bankrupt rather than earning a lucrative amount of cash.
Why it's Necessary for an Attorney to Review Your Contract
Whether you are an individual artist or play with a group of musicians, as you grow so will your fan base. Sooner or later you might be offered a recording contract, also known as a record deal. Although hiring music law attorneys is not mandatory, it is important if you actually want to make any money.
Believe it or not, record labels have been known to produce unfair contracts and can word them just right to where you would never know you are giving up your rights to make music and money.
When you hire a music law attorney, they will go over the contract for you and even negotiate a better deal that will be in your best interest. These professionals know exactly what to look for as they have dealt with record labels and their misleading contracts for years. It has happened before to some of the top artists in the music industry who signed recording contracts with labels and barely made any money because of their negligence.
It can be an exceptionally exciting time in your life when you are offered a record deal, but many individuals get so excited they never think to have a professional go over the contract with them and end up losing out on a lot of money because of this.