Congratulations! You finally have a record deal on the table just waiting for the flourish of a pen. Before you sign your first contract, make sure you read the fine print carefully. A few smart negotiations can make a big difference in the future of your career.
Be Careful with Your Loyalty Payments
Image via Flickr by pictures of money
Make sure your time in the music studio pays off and you don’t accept royalties that are less than you deserve. For a new unknown artist, a royalty rate of five to ten percent is acceptable.
Carefully examine royalty deductions that impact what you’re taking that ten percent out of. It’s fairly standard for a recording company to recoup expenses associated with music production. However, you should steer clear of a contract that includes royalty deductions for travel expenses, the label owner’s salary, or other business costs.
Consider How Your Team Meshes
If you’re negotiating a recording contract, you’re at the point where you should have an attorney and manager. Some labels like to appoint a co-manager, in which case it’s essential that your two managers get along. Your attorney should feel confident about negotiating on your behalf for the best possible contract. Never accept an attorney from the record label, as you won’t get an impartial viewpoint.
Know What You Own
Before aligning yourself with a record label, it’s important to own as much of your brand as possible. Trademark your logos, copyright your name, and purchase the domain name for your official website. You don’t want to end up in court battling for the rights to your name if you decide to part ways with your record company in the future.
Keep the Contract Term Short
One year is the standard term for a new contract. While it may seem tempting to lock a deal in for longer, a record label isn’t something you want to tie yourself to for a long stretch. You never know where your time in the recording studio will take you over the coming months.
Most artists are constantly evolving, and it’s impossible to predict the impact of an insightful session with your recording engineer or an innovative choice for mastering and mixing your latest piece. If you fall in love with a new sound but your label is hesitant, you’ll want the option to go separate ways in the future.
The right record label can take your career to a new level, but you want to make sure you’re partnering with a good company before you sign. With a solid label backing you, you can make the most out of your time at our Connecticut recording studio. If you’re ready to record your first album on a new label, book your time at Carriage House Studios today. With the right facilities and label in your corner, you’ll be ready to make music history.