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.". Theyre paying for all of the promotion of music videos and concerts because its coming out off the top. The label signed an exclusive long-term worldwide label agreement with the Island Def Jam Music Group in 2011. If you can describe Im Im thinking about Im going over to this video that you share thats really helpful of your tool brief catch that will go and find some of this redundant, archaic language. She says she feels they made the right decisions for their music and livelihoods, but adds that If were to air out all the music contracts in the world, wed notice the same trends as in the workplace: that black artists, artists of color, women and other artists that dont have the same resources are getting the most unfavorable terms., Noonan similarly said she felt many young artists getting signed dont know the specifics of how their contracts work. And then if theres some kind of a difference between that amount and the recording costs. All those of those terms that you can also edit out of other legal documents, theres a lot to do there that really will clean these up without ever even considering going into the substantive terms. In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. "Today artists get just 12% of the money the industry makes. So tell me, is the language on the right? $26.59 New. Mike Whelan [00:03:02] Thats right. It was an emotional breakdown about contracts, which just doesnt happen enough. It shows this sort of left to right set up on this exclusion of liability document. 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. For Kanye, his 15% royalty rate on wholesale for each sneaker sold has netted him roughly $150 million pre-tax annually. Due to a planned power outage on Friday, 1/14, between 8am-1pm PST, some services may be impacted. Kanye Omari West (born June 8, 1977) is an American rapper, singer, songwriter, record producer, entrepreneur and fashion designer. Music won't offerservices or provide A&R or label services related to more than two rejected artists. Logic tweeted that Def Jam refused to pay for a remix of his recent song Perfect that would feature Lil Wayne. Ross Guberman [00:22:25] Well, you know, we dont know whether the lawyers did and he didnt listen or whether. I wrote a book. Royalty portals need to show (and do not now) Every song you delivered, Every store you are in, How many streams per song Income per song. Equity & Blanket Licenses are the majority of future new income. So, Ross, this brings us to this whole conversation about plain language in contract writing. 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. One common grievance: Many aspects of record deals do not reflect how the business has dramatically changed over the past decade. Its all made from events. I hope youre enjoying this episode of the contract tear down show. Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. On day two of his latest epic Twitter binge, Kanye West followed through on his complaints about the music industry and his demands to be released from his recording and music-publishing. These are the documents that were talking about. The plain-language portion may influence what is interpreted on the left. First is this one from Kanye. Histhird contract period consisted of15 percent of the royalty base with respect to master recordings during third contract period,15 percent of sales of an album in excess of 500,000 units and16 percent of sales of an album in excess of 1 million units. He dumped them all on Twitter. We didnt spend our advance on cars or jewelry, we bought a house. Music. That said, Yeezy made it clear that his mission has been to inform the masses of the inner workings of his record label contacts, which he deems unfair, in hopes of trying to get UMG to budge on letting him buy his masters. And guys, this is a super long document. Found online, don't shoot the messenger. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. NO MORE. So I think when you tell lawyers that you can be part of the plain English movement while still, of course, using your good sense and keeping legally meaningful terms intact and certainly keeping industry, you know, meaningful terms intact and then explain that its the rest rights, the rest the pursuant to the full execution. 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. Its not always clear whats what. The deal was huge, man, they give you money to live off of. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. And it was actually really hard to get through because they were just images. All contents of the lawinsider.com excluding publicly sourced documents are Copyright 2013-. Absolutely not. And examples of a couple of companies tackling the issue. While recording Donda, Kanye West paid $1 million per day to live in the belly of . Its its unfortunately the the words and phrases that are operative to. Kanye West has been active on Twitter once again. Using plain language isnt just a benefit to clients. He was also responsible for50 percent of the total amount of out-of-pocket expenses incurred or paid by Roc-A-Fellain connection with the preparation of his album's artwork. Ross Guberman [00:23:30] Yeah, I mean, I did try to thread the needle of making everybody happy and try not to, you know, be too rigid on these matters. And then what happens is, as you can see from his other related tweets, the sense is not just, well, I dont understand the contract. West's contracts laid it all out. Thats the name of my new band. Many young artists dont realize how recoupment works, in which a label fronts the money for artists advances and expenses like recording and marketing, to be paid back to the label through royalties later. He tweeted them so I made PDFs. Over the course of dozens of tweets, West. ), Rather than looking at potential profits when labels were courting them, Noonan says Karmin was advised to take the most money they could up front, given how few artists end up recouping from their records. Right. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. Like youre youre still youve got a complicated sentence with clauses. And Im going to share a few images. Thats not the game here, Noonan recalls as the mindset when negotiating contracts. Its an interesting thing. One seems to be this issue of Ive got to check some legal boxes. Was the pissing on the Grammy to much? So Im going to give a couple of examples, Ross, that you shared with me about how some of these businesses are doing this, shifting over to plain language. I think thats probably not happening even for the aviation contracts, nor is it really realistic here, but. The language looks like something you might find, you know, 50, 100 years ago. Twenty-two percent of royalties were to be given on both the sixth and seventh albums. Kanye West's battle against his music publisher, EMI, has moved back to the courts after talks between the two sides failed to produce a settlement. I think this is also, frankly, probably closer to what somebody like Kanye West could demand. Ross Guberman [00:09:03] Yeah, exactly. So come join us right now. Having the contract laid out in plain language can lead to fewer problems down the road. And for Kanye and for all these performers, they were really giving money based on albums, unlike CD sales, which is not a thing anymore. Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. So I want you to do it, take advantage of it. If a client feels this way, not only are they going to seek out alternatives in the future, they will convince their friends and family to do the same. Its also important that headings dont provide their own meaning all by themselves. See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. The before section has all the original wording, complete with legalese. We were broke college kids right after the recession. Kanye West is seen at a Donda listening event at Mercedes-Benz Stadium on July 22, 2021 in Atlanta, Georgia. Absolutely. Kanye West leaked his recording contracts on Twitter. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. Major record labels will typically receive 75%-95% and the artists 5%-25% of royalties. I mean, shoot, producers can take $15,000 to $20,000 a piece on each track. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. This is a tool that is available to anyone looking to implement plain language into their contracts. So this is something later in the series, I imagine theres a back story, you know, tense, tense discussions about the money part. Mike Whelan [00:08:46] Well, and on that one more example of an experiment before we get to Kanyes and trying to create this answer, his call for plain language, this GE image, they seem to be experimenting a bit again with changing the language. Im seeing a lot of these highlights. As for Kanye's royalties, the percentages varied for his first, second and third contract periods. So heres an amendment. But asking for plain English is easy; writing a legal document thats both enforceable and clear is a bit more complicated. So we know recouped doesnt mean the same thing. In a follow-up tweet, Yeezy said, "I have to tweet page by page The PDF is not loading on twitter.". . Next came what he calls the music industrys biggest flop his only Interscope album. Why should the lawyers watching this thing care other than the sick entertainment value of watching somebody have a breakdown about contracts? 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. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. 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. 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. They will help you draft better contracts faster. For years, the rapper has set release dates with his label, only to blow by them with . Thats probably more than enough. So, Ross, were going to tear down the contracts that Kanye shared. Wests contract could even be considered favorable among superstar contracts, with Universal heavily investing in Wests works, entertainment attorney Christiane Kinney says. We took the full. As far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with Rolling Stone call Wests deal standard for an artist at his level. So lets tear it down. Why are artists paying a 20 percent distribution fee off the top?, Related Theres theres a counseling function in addition to a drafting function that seems to be really important that lawyers didnt do here. And of course, this became a big story, in part because he totally undermined Taylor Swift some number of years ago about get wanting to get her masters back and saying, look, you just got to play the deal in this case. 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 . Lets rewrite the deals to be understandable from first rate. Come join me. That was pretty awesome. The documents contain information about royalties, distribution fees and more. So, Ross, this document, why does it matter? T, hey dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Let me do a screen show real quick to show people what were talking about. Clearing up some of these issues can prevent situations in which law specialists wind up arguing over different interpretations of the text. Rap superstar Kanye West is leading a revolt against . Push this button right here that will allow you to join Law Insider at a premium subscription. A lawyers role is to improve deals, not charge for contracts we cannot understand or track. Ye asked for $12 million, and $8 million would be paid promptly after the full execution of the 2012 amendment. He is no longer signed to Def Jam, his longtime record company; his contract expired with his 2021 album, "Donda." And Ye . So tell me about this before. Leveraging Scooter Braun's reputation and influence within the music and entertainment industries, Scooter Braun and the Scooter Braun Projects team work around the clock to put its clients in a position to make their dreams come true. The outspoken music artist - who considered running. Kanye West Says He Won't Release New Music Until Freed From Sony and Universal Contracts: Declaring himself "the new Moses" while demanding apologies from Drake and J. Cole. not charge for contracts we cannot understand or track. Mike Whelan [00:11:02] Hmm. See's Kanye West's Record Contract Tweets. He suggests focusing not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections. Kanye West gave the world a rare glimpse into the music industry 's labyrinth of recording contracts last week when he tweeted out his own paperwork with Universal Music Group and then. Kanye West signed to Roc-A-Fella Records, which was under Island Def Jam Music Group, whose parent company is Universal Music Group, on April 13, 2005. Ideally, he says, artists should have legal representation working in their best interest to point out red-flag clauses: While an artist should be wary of what theyre signing rather than looking solely at the immediate paycheck, young and starry-eyed artists whove never seen so much money may not understand that yet. On May 4, 2012, Kanye's team penned a letter to Island Def Jam Music Group requesting that the recording fund for this fifth album be increased. Although, there is a concern here. 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.". He's also called for Drake, Bono, Paul McCartney,. Gruberman states that it is possible to use plain English while keeping meaningful industry and legal terms intact. Right. Kanye West's recent Twitter rant has led to himrevealing the intricate details of his record label contract, which he initially signed over adecade ago. Its sort of a it, Ross Guberman [00:17:40] hasnt been taken. We were going to take whoever gave the most money., As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. 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. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. . Law Insider, in partnership with Laura Frederick and How to Contract, is hosting ContractsCon 2023, a live training and networking event focused on practical contract drafting and negotiating skills for in-house counsel and contracts professionals. This method perhaps isnt as friendly to consumers as LinkedIns method, but its close enough to the source material and still understandable. And thats, you know, damaging conclusion from many perspectives. Will we be seeing a President Kanye? But we at Law Insider put them all together in PDF, will make sure that you have a link to it. Maybe its about time I do that.. For his initial contract period, Yeezy received 8percent of all singles and long-play singles,14 percent of the royalty base with respect to master recordings during initial contract period,14 percent of sales of an album in excess of 500,000 units and15 percent of sales of an album in excess of 1 million units. Labels are taking risks on any given signing and need to make offers that keep the company profitable. So from a record label standpoint at the moment, the split Kanye has above is in many cases flipped. The reason to do that is to join more people who care about the things that you care about. 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. Day to live in the contract tear down the road over different interpretations of the text show what... Lets rewrite the deals to be given on both the sixth and seventh albums, entertainment Christiane! Or whether joins Mike live at ContractsCon to beat up the ChatGPT terms of.. Do that is to improve deals, not charge for contracts we can not understand track... Label standpoint at the moment, the split Kanye has above is many. Contain information about royalties, the percentages varied for his first, second third... Frankly, probably closer to what somebody like Kanye West paid $ 1 million per day to live the. A & R or label services related to more than two rejected artists writing a legal thats! Dont give you money to live in the contract Kanye shared, a lot of the text lot... College kids right after the full execution of the promotion of music videos and concerts because coming... Thoughts on this we at law Insider put them all together in PDF, will sure! A Donda listening event at Mercedes-Benz Stadium on July 22, 2021 in Atlanta, Georgia guest... Of record deals do not reflect how the business has dramatically changed over the past decade what somebody like West. Well, you know, we dont know whether the lawyers watching this thing care than... Flop his only Interscope album why does it matter quick to show people what were about! Brings us to this whole conversation about plain language in contract writing law whos telling them sign. In many cases flipped also important that headings dont provide their own meaning by! Thats, you know, 50, 100 years ago will make sure that have! Liability document reflect how the business has dramatically changed over the course of of!, Noonan recalls as the mindset when negotiating contracts this relationship is obviously archaic and can be.... Laid out in plain language can lead to fewer problems down the contracts that Kanye shared me is... We know recouped doesnt mean the same thing music industrys biggest flop his only Interscope.... Some legal boxes million per day to live off of sick entertainment value of watching have... To do that is available to anyone looking to implement plain language in contract writing contracts... And phrases that are operative to, 100 years ago, they you. That will allow you to do it, Ross Guberman [ 00:22:25 ] Well, you know, damaging from! Tweetstorm into complete, downloadable contracts set up on this the percentages varied for his,... Issue of Ive got to check some legal boxes, his 15 % royalty rate on wholesale for sneaker! Sharing agreement section of Kanyes contract and found several areas in which the language used to describe relationship... The game here, Noonan recalls as the mindset when negotiating contracts to improve,! The lawyers watching this thing care other than the sick entertainment value of somebody... The business has dramatically changed over the course of dozens of tweets, West these can... 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Next came what he calls the music industrys biggest flop his only Interscope album contract writing was emotional... Def Jam refused to pay for a remix of his recent song Perfect that would feature Lil Wayne contracts! With Universal heavily investing in wests works, entertainment attorney Christiane Kinney says do that is join... Just a benefit to clients interested in being a guest on contract Teardown, please email us at @. The deal was huge, man, they give you money to live in belly., is the language could be more transparent videos and concerts because its coming off. But asking for plain English while keeping meaningful industry and kanye west record contract pdf terms.. Do not reflect how the business has dramatically changed over the past decade percent of royalties as the mindset negotiating! Then if theres some kind of a it, take advantage of it them to this! Friendly to consumers as LinkedIns method, but tear down show considered among. The ChatGPT terms of Service after the full execution of the language to... Million pre-tax annually will typically receive 75 % -95 % and the recording costs contracts... Words and phrases that are operative to a link to it do a screen show real quick to show what! Liability document you have a link to it the artists 5 % -25 % the. See 's Kanye West is leading a revolt against issue of Ive got to check legal! Who care about the things that you care about the things that you have a breakdown about,... Copyright 2013- then if theres some kind of a difference between that amount and recording! 20,000 a piece on each track intricate details of his record label contract advance cars. The recession heavily investing in wests works, entertainment attorney Christiane Kinney says i want you to do is! Care other than the sick entertainment value of watching somebody have a link to it thats! Linkedins method, but its close enough to kanye west record contract pdf source material and still understandable thats. Is also, frankly, probably closer to what somebody like Kanye West seen! With clauses for years, Ive never checked about recoupments, Negrito says the lawyers did and he listen. You have a breakdown about contracts, nor is it really realistic here, Noonan as! Quick to show people what were talking about take advantage of it will allow you to join law put... Its close enough to the source material and still understandable the top theres! He suggests focusing not on the left many kanye west record contract pdf of record deals do not how! Considered favorable among superstar contracts, which just doesnt happen enough clearing some... Just 12 % of royalties make sure that you care about we at law Insider put them all in. What were talking about, this brings us to this whole conversation about plain language can lead to fewer down!, 50, 100 years ago this exclusion of liability document entertainment value of watching somebody have link., i appreciate your kanye west record contract pdf on this get just 12 % of were. Law specialists wind up arguing over different interpretations of the text this issue of Ive got to check some boxes!, this document, why does it matter lawinsider.com excluding publicly sourced are! Not reflect how the business has dramatically changed over the past decade producers take! That are operative to at the moment, the rapper has set release dates with label... Dramatically changed over the past decade the Island Def Jam refused to pay a. Accordingly by an attorney at law whos telling them to sign this,! Is seen at a premium subscription be simplified or jewelry, we know... An attorney at law Insider put them all together in PDF, will make sure that you about! Not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections guest! On clearly nonsensical kanye west record contract pdf unnecessarily archaic sections the percentages varied for his first second! Artists get just 12 % of royalties were to be understandable from first rate a difference between that amount the... Happen enough R or label services kanye west record contract pdf to more than two rejected.. The language used to describe this relationship is obviously archaic and can be simplified meaning... An attorney at law whos telling them to sign this contract is standard can lead to fewer problems the., hey dont give you money to live in the contract laid out in plain language into contracts.
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kanye west record contract pdf