The 360 Record Deal

Posted by | June 23, 2010 | Music Business 101, Vinny Kumar | No Comments

via Nahright. As an entertainment attorney, I see things like this… and I have mixed feelings. Are the record labels really bloodsuckers for taking what they should’ve taken in the first place? i.e. a portion of record sales, merchandising, publishing, touring, etc. Let’s face it, back in the day… they f*cked up. The record companies are pumping thousands and thousands (sometimes millions) of dollars into an artist to develop their brand… why is it so surprising that they’d ask for ancillary income derived from their investment? Not only is this now the standard for major record labels (WEA, SONY-BMG, Universal, EMI), but it is also trickling down to the independent production companies that develop these artists. Trust me, if you decide to start a record company and you want to sign artists, you’re probably going to want them signed to a 360 as well. With declining record sales, it seems like this is the only way for the majors to survive. Interestingly enough, I’m pushing a lot of people to go independent these days. It’s now a LOT easier for new or branded artists to independently market and distribute their music themselves. If record label owners are knowledgeable about the various income streams in the music industry, there is a lot of money to be made. Anyways, just my thoughts. Feel free to chime in. -Vinny

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