Donda 2, due for release on Tuesday (February 22), is the follow-up to Ye's Grammy-nominated Donda, which achieved one of the biggest ever first weeks for an album on both Spotify and Apple Music when it was released in August last year.. Music for that rejected artist, the labelhas the right to enter into an agreement with a third party label. The deal. Undoubtedly, who Thats not the game here, Noonan recalls as the mindset when negotiating contracts. Youll also get webinars and daily tips on drafting and negotiating contracts, not to mention access to the worlds largest database of sample clauses and contracts. We get used to these things and then sometimes, theres a wakeup call.. 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. musical compositions embodied on albums released by a major record label per year (or longer if West needed more time) (each a "Contract Year") for . 25. So youre seeing some attempt by LinkedIn. Almost no artists recoup so the system obviously doesnt work, but its tempting. Right. We get used to these things and then sometimes, theres a wakeup call . We can walk you through that process and get you on the show to tear down another contract. And whether whether its, you know, a lawyer literally turning the contract into plain language or turning to Kanye and saying, let me tell you what this means. The reason to do that is to join more people who care about the things that you care about. Everybody go get it. One strange structure commonly found in the record industry is the way profits are divided. Just minutes prior, he had finished tweeting out the entirety of his Universal contract, one page at a time for a total of more than 100 tweets. The label additionally had the right to release one Greatest Hits album. Im going to give people a little bit of background on the Twitter rant about contracts. Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. Almost no artists recoup so the system obviously doesnt work, but its tempting. Ive got blues and Ive got reds. Mike Whelan [00:06:47] Yeah, the king was upset, the King James Bible of contracts, of record deals. Push the button. 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. 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. I think this is also, frankly, probably closer to what somebody like Kanye West could demand. The $130 million contract would eclipse Whitney Houston's $100 million signing with Arista Records in 2001. The first agreement in the series was around the time PDF were new. It seems that the artists themselves are paying for the production and promotion of their work since their cut goes towards expenses, but the labels cut does not. Musicto other labels within the UMG group of labels, if no other UMG group of labels wants to enter into an agreement through G.O.O.D. 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. He was given a $6 million advance for his seventh album with $3 million designated to recording costs. The outspoken music artist - who considered running. A lot of people say they sign a million-dollar deal, but you dont get a check for $1 million, Noonan adds. Contract #3. Be the first one to, Advanced embedding details, examples, and help, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_abbyy.gz, 2011.01.11-Kanye WestJay Z Duet Album Agreement_abbyy.gz, 2012.05.04-Amendment recording agreement_abbyy.gz, 2012.05.07-Amendment, including original recording agreement_abbyy.gz, 2012.05.07-Profit Share Agreement_abbyy.gz, 2012.05.17-Amendment to Recording Agreement and Film Agreement_abbyy.gz, 2013.03.10-Amendment recording agreement_abbyy.gz, 2014.08.11-Amendment recording agreement_abbyy.gz, 2019.01.09--Summary of Kanye West's Label Agreements_abbyy.gz, 2005.04.13-Recording Agreement between Roc-A-Fella Records and Rock the World, LLC_daisy.zip, 2011.01.11-Kanye WestJay Z Duet Album Agreement_daisy.zip, 2012.05.04-Amendment recording agreement_daisy.zip, 2012.05.07-Amendment, including original recording agreement_daisy.zip, 2012.05.07-Profit Share Agreement_daisy.zip, 2012.05.17-Amendment to Recording Agreement and Film 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(last updated 12/31/2014). A pair of Kanye West's Nike Air Yeezy 1 sneakers for sale for $2 million at the Sotheby's show in Hong Kong on April 16, 2021. Maybe even my own lawyer is not really looking at the language from my point of view. The 43-year-old rapper has conceded after his. NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. Kanye West gave the world a rare glimpse into the music industrys labyrinth of recording contracts last week when he tweeted out his own paperwork with Universal Music Group and then lambasted those agreements as exploitative and unfair, demanding his copyrights be returned to him. 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.. These are the documents that were talking about. Another example is General Electric. Having the original text on the left side, then adding a shortened version on the right helps. In the process of that latter Twitter. To be a little bit difficult to argue that. Nirvana Vinyl Records. Right. Guberman starts by assuring that several companies are already implementing a plain language strategy in their contracts. During his rant, Kanye declared that he would move the entire music industry into the 21st century, and he means to do this using clear and discernable language. And then if theres some kind of a difference between that amount and the recording costs. The rapper and his team signed an agreement on January 5 with the venue for a 25-day rental totaling $125,000, expenses of $20,000, and four new office chairs for $813, the lawsuit says. See everything we've learned from his record label deals below. I hope youre enjoying this episode of the contract tear down show. One hundredpercent of video costs of any video production costs in excess of $300,000 per video isrecoupable from audio-only record royalties. Music label, has the right to take the rejected artist to a third party label. Come join my friends. Ross Guberman [00:08:11] Yeah, this is a big issue. Mike Whelan [00:03:50] I realized after I got dressed to have our conversation that Im wearing the shirt that apparently everyone in D.C. wears. 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. Youve been dealing with this for a while. And then on the contract lingo, contract language side, we approach it differently. Mike Whelan [00:17:41] an interpretive sca band and Im going to have to look for the domain name. . You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. 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.". Then you, Kanye, get your money. You want to make sure everything is understandable, but you dont want to take related phrases within a provision and just willy nilly break them up into multiple sentences the way you might. LA Man Charged With Hate Crimes Threatened Classmate: I Want You Dead, Jew Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. Kanye West continues his campaign against major record labels. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. Thats the name of my new band. 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. Of that, two-thirds ($8 million) was an advance for him to keep. 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. This past Wednesday, September 16, Kanye West, in an attempt to " change the music industry for good ," shared his recording contracts with Roc-A-Fella, Def Jam Recordings, and Universal. Epic spent a fortune making that Karmin album. You want to get in and get as much as you can is what we were told. 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. Absolutely. They will help you draft better contracts faster. I have a lot of free articles and a lot of these before and after is also on Twitter. You got a bunch on the left in a very short sentence on the right. So those are those are the impediments. Most comprehensive library of legal defined terms on your mobile device. As lawyers and contract drafters trying to implement plain language, we have to find a way to do this while staying true to the contract. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. 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. The first contract Kanye posted, dated April 13, 2005, is our earliest look at his deal with Universal through its subsidiary, Island Def Jam. If Im the lawyer there, there are terms of art. So lets take another example from the Kanye contract. Ye by Kanye West (Record, 2018) (9) 100% agree - Would recommend. Until then, Ross, I appreciate you being here. So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? Equity & Blanket Licenses are the majority of future new income. Why is a shift to plain language important? He tweeted them so I made PDFs. Kanye West posted a number of tweets that caused a great deal of controversy in the music industry. Ross and I dig into Kanyes request for plain language drafting and whether its even realistic. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Join me and my friends. I do a lot of these kind of microlevel edits that people seem to like. So theres this GE aviation series of rewritten contracts. One common grievance: Many aspects of record deals do not reflect how the business has dramatically changed over the past decade. Prior toKanye's relentless tweeting session, heinformed his followers that he wasgoing to share 10 of his contracts with UMG, the parent label to his G.O.O.D. We were lucky because we were careful. The contract indicates that these figures would increase with each release, and Kanye West and his company would receive 20 percent of each minimum after notifying the label that the. Ross Guberman [00:13:17] Yeah, so, you know, you want to you want to look at these provisions in chunks or blocs or categories so you can sort of thread the needle between, you know, what what the clients might demand and what lawyers think is is in their interests. 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. We need plain English contracts. 2. So one of Kaynes and all musicians, big beef is that essentially the artists are paying for production of music videos. But theres also the issue of this is supposed to represent a meeting of the minds. Music; a backronym for Getting Out Our Dreams) is an American independent record label founded by rapper Kanye West in 2004. Right. Were going to deduct a million dollars. Royalties. Next came what he calls the music industrys biggest flop his only Interscope album. Ross Guberman [00:16:40] Yeah, you really hit the nail on the head. Having the contract laid out in plain language can lead to fewer problems down the road. Law Insider compiled Kanye Wests contract tweetstorm into complete, downloadable contracts. During his rant, Kanye declared that he would move the entire music industry into the 21st century, and he means to do this using clear and discernable language. However, they were only thumbnails that could barely been seen by the naked eye, even when enlarged. He dumped them all on Twitter. this summer, doesnt point the finger at any one entity or group for the nature of these deals. 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 . Oct. 25, 2022 Updated 11:22 a.m. 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's first record label he signed with was a pretty major institution. You can imagine the anxiety the in-house counsel have, right? And it was actually really hard to get through because they were just images. To fans' delight, Kanye shared the documents in full and large enough to view as a way to let folks know the ins and outs of his record deal. I wrote a book. Advances are just loans!! Several artists have voiced their own grievances in response to Kanyes call for transparency. 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. The 100 Best Albums of 2022. But first, the record labels getting their money. I will never work for a major record label again, Anokute says. And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. He says the industry must holistically evaluate how to improve for any major changes to shift. Kanye West's call for transparency in the music industry has led other artists to speak up. So tell me, is the language on the right? He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. 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. So what I what I what I did here is just pull pull one of the key provisions on the substantive side from this profit sharing agreement so we could try to figure out again whats possible for for the Kanye West of the world. We need plain English contracts. How do I nudge a contract toward plain language without undermining the agreement? 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. So get rid of it. Well, Im looking at the after and, you know, its shorter which which tells me something about the the utility of cutting these bits of archaic language. The breakdown for this amount was:$1.5 million was to be distributed to record the album. KANYE WEST, an individual, and WEST . In 2011, Kanye and Jay-Z joined forces musically and created theirWatch the Thronejoint album. Its sort of a it, Ross Guberman [00:17:40] hasnt been taken. Kanye West had some more thoughts to share about recording contracts in a series of tweets on Sunday (Sept. 20). Theyre paying for all of the promotion of music videos and concerts because its coming out off the top. You need a business manager to read how you did? A pair of shoes designed and worn by the musician Kanye West have sold for $1.8m (1.3m) at auction - the highest amount ever paid for trainers. Some of the phrases are unnecessarily complicated. Kanye West leaked his recording contracts on Twitter. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. But as the music industry comes out of its 20-year tailspin, with streaming fueling new growth, artists arent satisfied with that arrangement, and many are demanding newfound power. You should need NO ONE else to understand the business youre in. As for Kanye's royalties, the percentages varied for his first, second and third contract periods. Although, there is a concern here. You take expenses out and then people are sharing whats left. 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. Who made this up so that record companies get 70 percent of the money? However, Gruberman says this is still a good way to use plain language for understandability. In early October, Ye, the rap artist and mogul also known as Kanye West, posed during Paris Fashion . And guys, this is a super long document. Getting Out Our Dreams, LLC c/o Carroll, Guido & 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. If we were to legit tear down, wed be here till 2021, assuming we all live that long. . Mike Whelan [00:17:34] Yeah, I like the phrase sufficient moneys. What is this document? Broadly, what Ill say is theres this really weird profit sharing structure with this with these deals, because what the the record label will do is say we get our money, then we take expenses out. 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