For artists in various genres, it's no mystery that they want to succeed. With the ongoing trend of independent labels, some have the business savvy and connections to do it on their own. Others choose to work with major record labels. While neither decision is right or wrong, before a new artist (or returning artist) decides to sign a 360 deal, there are some things that artist should know.
In a 360 contract, the label is your management company. They're your label. They're your booking company. They do everything.
So what do you do if you have a problem with the way the record label is treating you? You would usually go to your management company. If you have a problem with your booking agent, you go to your management or your lawyer. But in a 360 deal that entity is everything so it becomes a conflict of interest if you have any challenges.
The good thing about a 360 deal is everything's covered. But whoever the organization or label that's responsible for the artist gets a piece of everything you do. For every concert performance, every downloads, every guest appearances, that organization is getting a profit from it.
If you have a problem with your 360 deal, there's nothing you can do because you're locked in.
It's about equal to a doctor who makes profits from a pharmacy. A dishonest doctor will prescribe medication solely on the basis of the amount of kickback that doctor will receive. It's just not ethical.
Before you sign on the dotted line, it's strongly suggested that you seek outside legal counsel. Make sure you're fully aware of all the perks and pitfalls of working with a major label before it's too late to turn back.
In a 360 contract, the label is your management company. They're your label. They're your booking company. They do everything.
So what do you do if you have a problem with the way the record label is treating you? You would usually go to your management company. If you have a problem with your booking agent, you go to your management or your lawyer. But in a 360 deal that entity is everything so it becomes a conflict of interest if you have any challenges.
The good thing about a 360 deal is everything's covered. But whoever the organization or label that's responsible for the artist gets a piece of everything you do. For every concert performance, every downloads, every guest appearances, that organization is getting a profit from it.
If you have a problem with your 360 deal, there's nothing you can do because you're locked in.
It's about equal to a doctor who makes profits from a pharmacy. A dishonest doctor will prescribe medication solely on the basis of the amount of kickback that doctor will receive. It's just not ethical.
Before you sign on the dotted line, it's strongly suggested that you seek outside legal counsel. Make sure you're fully aware of all the perks and pitfalls of working with a major label before it's too late to turn back.
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