If Kanye wanted to release his tentatively titled project, Lost Yeezus Tapes, he could have and it would've been considered a press and distribution album. So notwithstanding anything to the contrary, the Shall problem, you know, using Shal for both obligations and future events, words that seem familiar, like promptly that have a legal layer causes. No, but nobody wants clients to to conclude that. Ye says he wants his four children to own them. The music industry needs more clarity when approaching artists with deals so they understand the tradeoff that theyre making., Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo Karmin, had what she describes as a lucky experience: She and her now-husband and bandmate signed a deal with Epic Records in 2011 after Karmin started going viral on YouTube, and they got out of that deal four years later. Money and Music must stay together. I AM ONE OF THE MOST FAMOUS PEOPLE ON THE PLANET AND UNIVERSAL WONT TELL ME WHAT MY MASTERS COST BECAUSE THEY KNOW I CAN AFFORD THEM BLACK MASTERS MATTER.". Join me and my friends. Advances. So I apologize to both of you D.C. people watching. So youre seeing some attempt by LinkedIn. Portals. Milana Lewis, CEO of music distribution platform Stem, says record labels should start including explanatory pro-forma documents with deals, in order to promote transparency and make it easier for artists to understand what comes in their agreements. Theres theres a counseling function in addition to a drafting function that seems to be really important that lawyers didnt do here. And you guys, if you want to see this contract and want to get the show notes from this tear down where we can link you to these documents and to other resources that interpret the document, just go to lawinsider.com/resources. So get rid of it. Rap superstar Kanye West is leading a revolt against . Come join me. A month ago, Kanye West had an emotional breakdown on Twitter. Music or such label paying Island Def Jam Music Group acounterbalance amountagainst overhead payments in an amount equal to the overhead payments in the applicable contract year multiplied by a fraction. Come join my friends. In 2011, Kanye and Jay-Z joined forces musically and created theirWatch the Thronejoint album. Again back to dependents. Theyre not to be I mean, this is classic, completely unnecessary, archaic language you see in a lot of commercial agreements. Roc-A-Fella was to approve any "recording elements,"which are listed as: selection of individual producer(s), selection of compositions to be recorded, specification of accompaniment, arrangement and copying services, selection of dates of recording and studios where recording is to take place. Normally, its sort of reversed. But there is some movement, especially in the tech industry, also consumer facing company, some movement, and then a little bit, too, in the more staid commercial world. Ross Guberman [00:16:40] Yeah, you really hit the nail on the head. Blues singer Fantastic Negrito, a two-time Grammy winner, first signed a major record deal with Interscope in the Nineties, giving him what he says was a $400,000 advance. That was pretty awesome. Mike Whelan [00:01:20] Pretty classy nightstand, Ross. It was pretty awesome because it was specifically about contracts. . Push the button. At no point was Kanye allowed to object to a track being on the record if it achievedTop 100 chart success on any national trade publication at any time prior to when the Greatest Hits album was released. Theres a lot we can do. Mike Whelan [00:04:08] wearing the shirt. Kanye was also prohibited from recording anew album prior to 90 days after delivering the effortto Roc-A-Fella. Yesterday afternoon, Kanye, who previously said he was going to share his 10 UMG contracts via Twitter, unloaded over 100 documents, tweet by tweet,containing hisrecording agreement with the label, album amendments, profit sharing agreements, label agreements and documents forWatch the Throne,his joint album with Jay-Z. On Wednesday afternoon (Sept. 16), Yeezy shared over 100 pages of documents tweet by tweet, containing information pertaining to his recording agreement with the powerhouse, album amendments, profit sharing agreements, label agreements and documents on his joint album with Jay-Z,Watch the Throne. Ye (/ j e / YAY; born Kanye Omari West / k n j e / KAHN-yay; June 8, 1977) is an American rapper, singer, songwriter, record producer, and fashion designer.. Born in Atlanta and raised in Chicago, West gained recognition as a producer for Roc-A-Fella Records in the early 2000s, producing singles for several artists and developing the "chipmunk soul" sampling style. Advances are loans with 75% interest rates (or worse). And clearly there are artists signing these things that dont dont know what theyre doing. The decline centered around controversial anti-Black and antisemitic comments and other erratic behavior. We have been engaged in an ongoing dialogue with Hit-Boy and all the concerned parties to address his concerns and will continue to do so until a reasonable solution is achieved.). The Record Industry Spencer Cornelia 486K subscribers Subscribe 98K views 2 years ago Kanye West recently posted his record contracts on Twitter and it's clearly become a. While recording Donda, Kanye West paid $1 million per day to live in the belly of . Kanye West's first record label he signed with was a pretty major institution. I think this is also, frankly, probably closer to what somebody like Kanye West could demand. Labels are taking risks on any given signing and need to make offers that keep the company profitable. West created his first Yeezy shoes with Nike in 2007, and then . See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. Ross describes a counselor that can thread this very tough plain language needle. 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The rest went for recording costs, sample clearance, and other costs involved in making the album. Based on Kanye's documentation, it looks like there was also aCruel Summer film in the works. But, Ross, if people want to get in touch with you and get a sense of how to differentiate, I mean, this seems to be the hard skill is differentiating between this is a legally significant and archaic, but its significant. And the reason that it applies to us is this awesome tweet that all the lawyers got excited about, where he says the first thing that changes about record deals is actually lawyers. "NEW RECORDING AND PUBLISHING DEAL GUIDELINES," he tweeted at 1:26 p.m. He got a $12 million pool of money to make "Yeezus" in 2013. In the docs forKanye's exclusive recording agreement, information includes that grantor's royalty account and the production budget for the applicable recording project will be charged with a record cost item of $30,000 per album (or $3,000 per side for a project for the recording of less than an album). XXL has taken a deep dive into Kanye's record contracts. However, the film has not yet been released. Youve got defined terms of art in there. This helps cut down on negotiation time, which can lead to making better deals. Search the history of over 797 billion Now we know where the funds will come from, so its its. We didnt spend our advance on cars or jewelry, we bought a house. And we want you to know, even if the recording agreement to you indicate something else, this is whats going to happen. One seems to be this issue of Ive got to check some legal boxes. 1-year deal. Blues singer Fantastic Negrito, a two-time Grammy winner, first signed a major record deal with Interscope in the Nineties, giving him what he says was a $400,000 advance. LA Man Charged With Hate Crimes Threatened Classmate: I Want You Dead, Jew The partnership was a nightmare for both Negrito and the label, he says. on the Internet. Mike Whelan [00:10:12] Hey, everybody, Im Mike Whelen. G.O.O.D. Were were coloring pictures for you so you understand whats happening here? A lawyers role is to improve deals, not charge for contracts we cannot understand or track. After delivering his proof, Yeezy tweeted, "90% of the record contracts on the planet are still on a royalty A standard record deal is a trap to NEVER have you recoup, and theres all these hidden costs like the 'distribution fees' many labels put in their contracts to make even more money off our work without even trying.". KANYE WEST, an individual, and WEST . If you look at these agreements, though, from Kanye, that thats not just the CD references that are archaic. And the whole thing does feel very, very dated and and remote. On Wednesday afternoon, Kanye West publicly posted what he purported to be his Universal Music Group recording contracts, sharing them page by page via Twitter. If we were to legit tear down, wed be here till 2021, assuming we all live that long. Law Insider Completes First Legal Tech Investment and Distribution Partnership with Inkly, All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. Ross Guberman [00:08:11] Yeah, this is a big issue. I guess my question is, could Kanye read this, do you think? Kanye West has been slapped with a lawsuit by music publisher EMI after attempting to get out of his publishing deal by claiming the contract equates to slavery.. She argues that the relationship between the parties should dictate options, then the parties themselves should make informed choices. So lets shift to the Kanye contract, and were not going to do a full breakdown of what all these documents are, because theres a lot and there are good YouTube videos out there. Kanye West West's case argues that he has been "labouring" for EMI since 2003, and cites a California Labour Code that limits personal service contracts to no more than seven years. T, hey dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. After agreeing to the amount spent on the film, they took $1 million from Kanyes sixth album backend and then $500,000 from his seventh album's recording fund. Exclusive Recording Agreement THE ISLAND DEF JAM MUSIC GROUP,A DIVISION OF UMG RECORDINGS, INC. 1755 BROADWAY NEW YORK, NEW YORK 10019 Dated as of March 10, 2013 Kanye West c/o Carroll, Guido & Groffman, LLP 1790 Broadway, 20 th Floor Suite 800 New York, NY 10019 Attention: Michael Guido, Esq. Why should the lawyers watching this thing care other than the sick entertainment value of watching somebody have a breakdown about contracts? So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. After that point, UMG can distribute the albums on their own. (Rex Features) Kanye West tweeted dozens of pages from his recording contract with Universal Music Group yesterday (Wednesday 16 September . Kanye Wests Record Deal Is Standard. Are they making too much? Not every artist has time to read the, Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo. If youre with a major you have invested your songs as shares in their power to get equity and deals. Kenny Beats tweeted that something needs to change in the structure of the music industry to protect artists and specifically Black artists. And in a lengthy post on Instagram, Hit-Boy, whos produced platinum songs including Sicko Mode and N-s in Paris, said that multiple attorneys who have seen the deal he signed as a 19-year-old with Universal Music Publishing Group in the mid-2000s called it the worst publishing contract theyd ever seen. We were broke college kids right after the recession. He suggests focusing not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections. Kanye West signed his co-publishing contract with music publisher EMIwho is now owned by Sony/ATVin 2003, before the completion and release of his 2004 debut album, The College Dropout. It's unclear if it actually will. How are businesses shifting to using plain language? The rest is either just plain generically legaleese like hereinafter referred to or to the extent that that we can easily change because theres no special contract law layer there or or actually concrete things that are understandable, like sixth album recording. We talk about differentiating between archaic language thats necessary and archaic language you should cut, as well as tools you can use to identify that language. Intro Voice [00:00:10] Welcome to the Contract Teardown Show from Law Insider, where legal experts tear down contracts from some of the most well-known companies and high profile executives around the world. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. Cruel Summer/Hawaii costs shall befully cross-collateralized with Kanye's main royalties account. 22% royalty rate for Kanye (and 78% for the record label). What do you see? If at that time Ye has not recouped his royalties, the reversion date will be extended until the day after the last day in the accounting period after receiving a statement indicating that the royalty account has been recouped. Notwithstanding the foregoing, if Roc-A-Fella is obligated to pay such producers a higher fixed amount (the "higher amount") for the applicable project, Grantor's royalty account and the production budget for the applicable recording project will be charged with a recording cost item equal to the higher amount in lieu of the amounts set forth in the preceding sentence. Capture a web page as it appears now for use as a trusted citation in the future. So the tool, the tool were looking at brief catch, you know, there you go. When youre awake to this, you cant be the perpetrator anymore.. Thus,50 percent of these costs incurred by Roc-A-Fella are considered advances, but the label could notrecoup more than $40,000 for each album relevant to these costs: creation, hosting, maintenance of artists website, securing, registering and/or protecting artist domain names, creation of ECD materials, independent promotion, independent marketing and independent publicity, television, movie or radio campaigns. Advances are just loans!! Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. Theyll follow their attorneys recommendation. But we at Law Insider put them all together in PDF, will make sure that you have a link to it. The before section has all the original wording, complete with legalese. Entrepreneur and musician Kanye West lost his lucrative multi-year deal to design sneaker brand Yeezy for Adidas after making antisemitic comments. The remaining$1millionwas to be paid upon completion. Found online, don't shoot the messenger. And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. So, yeah, there you go. Ye said of the images: "This is what me Kanye West deal looks like . Record Companies have to buy into you, not loan you. Is it fair? Not every artist has time to read the Donald Passman bookand find out what every term and clause means, and while there are great lawyers out there, too many just want their 5 percent [commission].. The papers indicate that he started on a royalty deal frequently afforded to upcoming artists, which later evolved into a more artist-friendly pressing and distribution deal that gave Kanye more of the profits and bigger budgets as he became a superstar. So heres an amendment. Kanye West is at war with the music industry over the ownership of masters and unfair contracts. Pearl Jam Vinyl Records. Coming from the tech space, when we raise money and talk with investors to get capital into our business, were armed with a pro-forma that lets us understand how much were taking on and see exactly how the numbers work out. Ye asked for $12 million, and $8 million would be paid promptly after the full execution of the 2012 amendment. Island Def Jam can also recoup 100 percent profit ofCruel Summer/Hawaii costs. Its unfair for the party that lacks visibility into the way the other party is thinking about the numbers, Lewis says. West's contracts laid it all out. Absolutely not. Copyright 2023 Penske Business Media, LLC. For Kanye West's profit share agreement with Island Def Jam/UMG, there was a 50 percent profit split for his sixth and seventh album, whichincludes distribution, marketing, recording and any other expenses. And it was actually really hard to get through because they were just images. Clearing up some of these issues can prevent situations in which law specialists wind up arguing over different interpretations of the text. Music label, has the right to take the rejected artist to a third party label. Mike Whelan [00:22:29] he did not listen. (In response, the label played down the conflict: Theres no more independent plants, no more putting all these CDs in a truck and shipping them from store to store across the country, Chris Anokute, founder of entertainment company Young Forever Inc. and a former A&R executive for labels including Capitol and Island Def Jam, tells, Anokute manages several clients including Curtis Waters, who recently, While Anokute points the barrel primarily at the labels dishing out deals arguing that these deals perpetuate the very inequalities for black artists that the, If you have a kid who knows nothing about law and sees all this money, these contracts are 60 pages long, who the fuck is reading that? Anokute says. Kanye West, also now known as Ye, has been named as a suspect in a battery report taken by the Los Angeles police department in the early hours of . So I have to keep it versus this is archaic and useless. Lets rewrite the deals to be understandable from first rate. But if Kanye West 's statements last year about slavery being a choice were out of bounds, he's taking more of a Prince-like tactic in his ongoing efforts to extract himself from his record. Kanye West had some more thoughts to share about recording contracts in a series of tweets on Sunday (Sept. 20). The rapper has put out nine albums over 17 years through Roc-a-Fella Records. So lets talk a little bit. West made about a 100 posts and shared screenshots of pages from his recording contract. So you dont have to blow the whole thing up in order to meet Kanye West at least half way. Ross Guberman [00:22:31] but definitely something to that. Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. In the process of that latter Twitter. And Im going to share a few images. And youll see with this contract, this is an old contract that was really based on who gets money from from the music. Right. Earlier this week, he denounced the contracts being provided by Sony and Universal . NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. The suit said West. Youre not trying to make it really friendly for consumers, but you are trying to make it friendly for business people while still preserving, as you can see in the rewrite as most of the actual terms of art. Practical in the sense that its tracking reality while still hopefully remaining faithful to the original. There are there are archaic phrases that that for this to be legally binding, for me to stay out of trouble, need to be in there. Right. Was the pissing on the Grammy to much? In follow-up tweets, he shared screengrabs of 10 documents that included a profit sharing agreement and a recording agreement. So as you can see, this is quite different from what LinkedIn is going to do. The titles of the files cannot be seen in full, but three of the thumbnails are saved as amendments, one appears to be a record agreement and the fifth file says "Kanye WestJay," which likely pertains to their 2011Watch the Throne album. Why is he so decidedly different, incredibly talented, bitingly frank, frequently controversial, and surpris-ingly or arguably humble all at once? So I want you to do it, take advantage of it. "We get used to these things and then sometimes, theres a wakeup call, says one artist. Some examples would be words such as materiality, reasonable efforts, and severable. 2. on September 21, 2020. Equity & Blanket Licenses are the majority of future new income. In early October, Ye, the rap artist and mogul also known as Kanye West, posed during Paris Fashion . So tell me, is the language on the right? Ross Guberman [00:03:18] And so Im the president of legal writing prose, so Ive been doing workshops and consulting on all different aspects of lawyer writing and judicial writing for a couple of decades now. Kanye West signed singer-songwriter Teyana Taylor to his record label, G.O.O.D Music, in 2012 while she was in the midst of production on his album "My Beautiful Dark Twisted Fantasy . Yet even though Kanyes deal may not make him the ideal poster child for a conversation on the fairness of recording contracts, hes sparked a high level of discussion among artists and music-business insiders on the nature of record deals and long-held standards. They have before and after sections. Kanye West's history of inflammatory statements were met with consquences this week. The first agreement in the series was around the time PDF were new. He shared the dramatic, rant-fueled background and then took Kanyes request seriously. Hit-Boy is an enormously talented songwriter whose relationship we value, a UMPG spokesperson said in a statement to Rolling Stone. . Kanye West's call for transparency in the music industry has led other artists to speak up. Oct. 25, 2022 Updated 11:22 a.m. So its cut down on negotiation time and led to better, you know, better deals. Undoubtedly, who So so talk to me about this profit sharing piece. I hope youre enjoying this episode of the contract tear down show. this summer, doesnt point the finger at any one entity or group for the nature of these deals. You need to have some consistency, trying to keep that in there while still, again, capturing the the legal the truly contract law based elements of the original, the proviso, the, you know, the preemption, the classic for the avoidance of doubt and so forth, trying to trying to preserve all that, but not going so far as to worry about sentence length just for the sake of sentence length. I will never work for a major record label again, Anokute says. Kanye West Tweets About His '10' Recording Contracts: 'I Need Every Lawyer in the World to Look at These' In his latest string of tweets about his recording deals Wednesday (Sept. 16),. Why are artists paying a 20 percent distribution fee off the top?, Related But then Ive also you know, Ive also indicated which provisions are really in the realm of contract lingo or contract law. When your term ends, download it all. A written budget in itemized detail of anticipated recording costs was to be submitted to the label for approval and could be no greater than 80 percentof an amount equal to the applicable recording fund. One thing that could be highly damaging in any industry is having a client going around feeling as if the company or even their lawyer is trying to take advantage of them. The first thing that changes about Record Deals is actually lawyers. Almost ALL new deals now are based on ALL songs going to a store or app. Right. He is no longer signed to Def Jam, his longtime record company; his contract expired with his 2021 album, "Donda." And Ye . He declared his contract was industry standard, but that didnt mean it was fair. Found online, don't shoot the messenger. In fact, according to one of his recent Instagram posts, the Three Stripes offered to buy Ye out of his contract for $1 billion. You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. The reason to do that is to join more people who care about the things that you care about. Adidas said on Tuesday that it was cutting ties with Kanye West, ending what may have been the most significant corporate fashion partnership of the rapper and . The label signed an exclusive long-term worldwide label agreement with the Island Def Jam Music Group in 2011. He dumped them all on Twitter. I will not share the image of Kanye West urinating on his Grammy, though. The you know, the goal is not the same. Why is a shift to plain language important? Kanye Omari West (born June 8, 1977) is an American rapper, singer, songwriter, record producer, entrepreneur and fashion designer. Kanye also has a right to have a digital store, in which he can sell his album and the deluxe version on a website, but the deluxe is only exclusive to him for 90 days. However, they were only thumbnails that could barely been seen by the naked eye, even when enlarged. Is this realistic to even talk about plain language and contract drafting? He says the industry must holistically evaluate how to improve for any major changes to shift. Kanye West vs. NO MORE. Is this different than the LinkedIn attempt? The after section shows which changes Gruberman suggests need to be made. But they were reluctant to strike a deal with the young producer/rapper. What do you think of Kanye West leaking his own contracts to make a point? Everybody go get it. He created the first-of-its-kind editing plug-in BriefCatch. If Im the lawyer there, there are terms of art. But there theres a lot you can do there, as the GE example has shown. Tell me how this is more understandable again for someone, not a 12 year old, but someone like Kanye in the decision making phase. THE HOST:Mike Whelan is the author of Lawyer Forward: Finding Your Place in the Future of Law and host of the Lawyer Forward community. And so were going to go through parts of this. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. We need plain English contracts. If you push this button, youre going to save big. For his second contract period, Roc-A-Fella gave Ye18 percent of the royalty base with respect to master recordings from the second contract term,18 percent of sales of an album in excess of 500,000 units and19 percent of sales of an album in excess of 2 million units. Mike Whelan [00:12:56] So what are the some of just some of the language pieces that stand out to you? However, there are a few conditions: the artist will first be offered a dealthrough G.O.O.D. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. Harvard Business Review did a big piece on it, and the general counsel of that division really took this whole plain English thing seriously instead of just giving it lip service and actually redid a lot of their commercial agreements. Mike Whelan [00:00:23] In this episode, we revisit Kanye Wests leaked recording contract with drafting expert Ross Guberman. I need every lawyer in the world to look at these," he wrote. Well see you guys next time. Tell me what people are talking about. We wouldnt be talking about all this now if the label hadnt invested in him and put tons of marketing money into this for his leg up.. Mike Whelan [ 00:01:20 ] pretty classy nightstand, ross he shared the dramatic, rant-fueled background and people... 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Island Def Jam music Group yesterday ( Wednesday 16 September Group for the record label again, Anokute says rates... To shift new deals now are based on all songs going to save big this! Insider put them all together in PDF, will make sure that you care about i want you do! Button, youre going to a third party label the 2012 amendment this very tough plain language.. The ownership of masters and unfair contracts we bought a house of his record again. Store or app takes a look at the business, buys shares, starts to profit when it.. A deep dive into Kanye 's main royalties account live that long songs going to do is... On who gets money from from the music industry to protect artists and specifically artists! Group for the party that lacks visibility into the way the other party is thinking about the things dont. Music Group yesterday ( Wednesday 16 September posts and shared screenshots of from... [ 00:16:40 ] Yeah, this is quite different from what LinkedIn is going save... 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