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A recording contract (commonly called a record contract or record deal) is a legal agreement between a record label and a recording act (artist or group), where the act makes an audio recording (or series of recordings) for the label to sell and promote.
For recoupment in terms of U.S. tax law, see equitable recoupment.. Recoupment, in the music industry, is when a record label pays for a musical artist's expenses, such as for recording and marketing, and later deducts an equal amount from the artist's royalties, [1] which are between 15 and 20 percent of sales revenue. [2]
A royalty payment is a payment made by one party to another that owns a particular asset, for the right to ongoing use of that asset. Royalties are typically agreed upon as a percentage of gross or net revenues derived from the use of an asset or a fixed price per unit sold of an item of such, but there are also other modes and metrics of compensation.
Clockwise from top left: Janet Jackson, Michael Jackson, Whitney Houston and Madonna.Four of the artists who have had the largest recording contracts up to one point. [a]The following is a list of the largest music deals in history signed by artists, including recording contracts and multi-rights agreements with over $50 million, as well catalog acquisitions with a reported sum of over $150 ...
It is often used in recording industry contracts as a basic figure for defining royalty shares. [1] [2] Compare Suggested Retail List Price (SRLP).
Developed within the last 20 years (in the 21st century), the business arrangement is an alternative to the traditional recording contract, where the artist usually has control of personal revenue streams (outside the core business relationship around the sharing of revenues in music production). In a 360 deal, a company typically agrees to ...
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The recording industry would independently pursue legislation requiring royalties on digital audio recording devices and media. [1] A year later the songwriter Sammy Cahn and four music publishers, unhappy with the absence of a royalties provision in the Athens agreement, filed a class action copyright infringement suit against Sony. [4]