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Within the deal, Kanye was obligated to release six albums, inaddition tohis initial effort, TheCollege Dropout(2004), within a 12-month span. What do you see? The record label / publisher is a service provider that receives a share of the income for a limited term. The suit said West. Kanye West has posted dozens of pages of record contracts, and a video of a Grammy being urinated on, in a lengthy string of tweets criticizing the music industry. So this is something later in the series, I imagine theres a back story, you know, tense, tense discussions about the money part. Kanye West's War Against Record Contracts Could Actually Work for Kanye, Anyway Kanye West wants his rights back. Theyre not to be I mean, this is classic, completely unnecessary, archaic language you see in a lot of commercial agreements. Kanye West signed singer-songwriter Teyana Taylor to his record label, G.O.O.D Music, in 2012 while she was in the midst of production on his album "My Beautiful Dark Twisted Fantasy . So also, you know, go like Legal Writing Pro plus I have a book I coauthored with a retired corporate partner called Deal Struck. If you want to be on a future contract tear down. Mike Whelan [00:17:34] Yeah, I like the phrase sufficient moneys. The language looks like something you might find, you know, 50, 100 years ago. Kanye Wests Record Deal Is Standard. 22% royalty rate for Kanye (and 78% for the record label). He suggests focusing not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections. Lawyers. It is a family. ET . The recording fund amounts for Yeezy's third through seventh albums were listed as follows:third album: minimum recording fund $300,000, maxing recording fund $650,000;fourth album: minimum recording fund $325,000, maxing recording fund $700,000;fifth album: minimum recording fund $400,000, maxing recording fund $850,000;sixth album: minimum recording fund $425,000, maxing recording fund $900,000;seventh album: minimum recording fund $450,000, maxing recording fund $950,000. Advances. Kanye West continues his campaign against major record labels. 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.". Ye. Lets get back to the show. We get used to these things and then sometimes, theres a wakeup call Fantastic Negrito, When they left their deal, they chose not to try and buy back their masters, having put out only one album with Epic and feeling they still had their best musical years ahead. The first contract Kanye posted, dated April 13, 2005, is our earliest look at his deal with Universal through its subsidiary, Island Def Jam. Ross Guberman [00:07:15] So youre looking at a movement that started when those Capitol Hill hearings, but the tech companies were in the news. We get used to these things and then sometimes, theres a wakeup call.. Somethings got a hold your drink place. See's Kanye West's Record Contract Tweets, revealing the intricate details of his record label contract. Mike Whelan [00:11:02] Hmm. Kanye Omari West (born June 8, 1977) is an American rapper, singer, songwriter, record producer, entrepreneur and fashion designer. Not every artist has time to read the, Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo. We would like to show you a description here but the site won't allow us. Mike Whelan [00:22:29] he did not listen. Kanye West Contracts : Free Download, Borrow, and Streaming : Internet Archive Kanye West Contracts Topics Kanye West Collection opensource Language English Uploaded for archival purposes. In this episode of the Contract Teardown show, guest Diana Isyanova shares three possible approaches. Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. Addeddate 2020-09-21 23:04:27 Identifier KanyeWestContracts Identifier-ark ark:/13960/t0jt91382 Ocr ), 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. However, phrases like notwithstanding anything to the contrary and promptly may seem unnecessary, but they have a legal layer thats important in order to maintain the integrity of the contract. In in your estimation, does this thread the needle of checking the legal boxes, but also being plain enough? West also made his feelings towards the label clear in 2020, when he tweeted images of his record contract, noting he felt he was treated unfairly. Welcome to Law Insiders Contract Teardown Show, where we bring smart friends like Ross Guberman over here to break down some contracts. 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. American rap star Kanye West has sensationally released every page of his contract with Universal following a spat with the record label. 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. 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. This is the Def Jam amendment. Report: Kanyes Anti-Semitic Rhetoric Led to Assaults, Vandalism, If you have a kid who knows nothing about law and sees all this money, these contracts are 60 pages long, who the fuck is reading that? longtime A&R exec Chris Anokute, Anokute manages several clients including Curtis Waters, who recently went viral through his TikTok hit Stunnin. While Waters was courted by many major labels,at Anokutes counsel, he signed a shorter-term 60-40 profit-split deal with BMG. Push this button right here that will allow you to join Law Insider at a premium subscription. . You need to have some consistency, trying to keep that in there while still, again, capturing the the legal the truly contract law based elements of the original, the proviso, the, you know, the preemption, the classic for the avoidance of doubt and so forth, trying to trying to preserve all that, but not going so far as to worry about sentence length just for the sake of sentence length. So the rest, you know, if its not a one of those categories, its either an industry term of art or just normal English talking about finance or recording. Almost no artists recoup so the system obviously doesnt work, but its tempting. Ye also had to seek written approval from the labelat least 14 days before the first recording session. This is a tool that is available to anyone looking to implement plain language into their contracts. Right. Artists like Kanye feel that they are being cheated. Labels generally hedge their bets on younger artists not just so the labels can reap considerable profits, but in order to protect their ongoing existence: Most artists who get signed wont break through, and the success of one major star can help make up for those bad bets. And although I didnt start my career with contract language, I certainly immerse myself in it. 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. Getting Out Our Dreams, LLC c/o Carroll, Guido & UMG is the parent company of Def Jam and West's G.O.O.D. Ye went from $6.6 billion to maybe $400 million. Ross Guberman [00:22:31] but definitely something to that. 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. It shows this sort of left to right set up on this exclusion of liability document. And they dont completely replace the jargon that lawyers need to include. What do you think of Kanye West leaking his own contracts to make a point? The breakdown for this amount was:$1.5 million was to be distributed to record the album. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. We were lucky because we were careful. Kanye West's history of inflammatory statements were met with consquences this week. We need plain English contracts. How can you rewrite a contract to be understandable without losing the original intent? Whats the language that stands out to you as particularly harmful to the understanding of the parties, which is really what a contract is supposed to do, right? If youre with a major you have invested your songs as shares in their power to get equity and deals. Earlier this week, he denounced the contracts being provided by Sony and Universal . Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. If youre part of a team, just email us if youre in house or in a law firm. Equity & Blanket Licenses are the majority of future new income. Of that, two-thirds ($8 million) was an advance for him to keep. 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. Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. Mike Whelan [00:19:16] Well, and on that, I, I sort of want to get to principles, to things that lawyers can learn from this example, which is really the purpose of this show. "NEW RECORDING AND PUBLISHING DEAL GUIDELINES," he tweeted at 1:26 p.m. Join me and my friends. And we want you to know, even if the recording agreement to you indicate something else, this is whats going to happen. Right. 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. So lets take another example from the Kanye contract. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. The remaining$1millionwas to be paid upon completion. We get used to these things and then sometimes, theres a wakeup call . First is this one from Kanye. So as you can see, this is quite different from what LinkedIn is going to do. The partnership was a nightmare for both Negrito and the label, he says. I PRAY IN THE NAME OF JESUS THAT IT DONT LOOK LIKE THIS TOMORROW," Ye wrote in a tweet with the five accompanying images. Not every artist has time to read the Donald Passman bookand find out what every term and clause means, and while there are great lawyers out there, too many just want their 5 percent [commission].. Most comprehensive library of legal defined terms on your mobile device. The deal. Why are artists paying a 20 percent distribution fee off the top?, Related And according to the general counsel, its worked wonders. The deal was huge, man, they give you money to live off of. Mike Whelan [00:10:12] Hey, everybody, Im Mike Whelen. See everything we've learned from his record label deals below. Kanye West Tweets About His '10' Recording Contracts: 'I Need Every Lawyer in the World to Look at These' In his latest string of tweets about his recording deals Wednesday (Sept. 16),. The deals not bad what is that based on? Negrito asks. Learn more about his work for attorneys at www.lawyerforward.com. Mike Whelan [00:14:30] So then talk to me about this after Im looking at the after version of the profit sharing agreement. In September 2020, "Kanye West Record Deal" started trending. . T, hey dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Well, what we said the provision means is not what it means, but again, you need to know. We want to hear it. The split can be 80/20 in the artists favor. So so talk to me about this profit sharing piece. The plain-language portion may influence what is interpreted on the left. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? Having the contract laid out in plain language can lead to fewer problems down the road. Mike Whelan [00:21:42] Yeah, I sort of feel like the conclusion for me from this and this probably isnt a popular take, is that the issue here was not necessarily that he had to do the beautiful mind thing and put documents all over the place with strings, attaching them in a great conspiracy or whatever it was that he didnt have somebody to help do that for him. 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. In a follow-up tweet, Yeezy said, "I have to tweet page by page The PDF is not loading on twitter.". Ye by Kanye West (Record, 2018) (9) 100% agree - Would recommend. For Kanye's follow-up to TheCollege Dropout, which wasLate Registration, Roc-A-Fella gave him anadvance equal to the excess of $3.5 million over recording costs. 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. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Whats the principle here? In follow-up tweets, he shared screengrabs of 10 documents that included a profit sharing agreement and a recording agreement. And, to an extent, they're not wrong. I want you to do me a quick favor. 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. Some of the phrases are unnecessarily complicated. Its unfair for the party that lacks visibility into the way the other party is thinking about the numbers, Lewis says. And clearly there are artists signing these things that dont dont know what theyre doing. 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. Its all made from events. 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. Now, with a click of a finger, your music goes wide to 7 billion people if you want it to. You take expenses out and then people are sharing whats left. So if Im a lawyer and Im negotiating with another side and youre very practical about these things, like although the plain language movement is nice, in theory, youve got to negotiate with somebody else who might like that archaic language. For Kanye, his 15% royalty rate on wholesale for each sneaker sold has netted him roughly $150 million pre-tax annually. Come join my friends. I hope youre enjoying this episode of the contract tear down show. Its a fine line to walk: simplifying without completely changing the meaning of the terms. 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. If Island Def Jam Music Group were to pass on an artist,Getting Out Our Dreams Inc., the acronym for Kanye's G.O.O.D. Uploaded for archival purposes. Maybe even my own lawyer is not really looking at the language from my point of view. After the advance was recouped, 15 percent of royalties were to be given to both artists. Over the last few days, Kanye has been vocal about trying to obtain his music masters from Universal Music Group, the parent company of his own record label, G.O.O.D. Theres even a reference to a so-called PDF I guest. If Im the lawyer there, there are terms of art. 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. 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. We wouldnt be talking about all this now if the label hadnt invested in him and put tons of marketing money into this for his leg up.. So I want you to do it, take advantage of it. Were lucky we were told the truth in so many ways.. Island Def Jam can also recoup 100 percent profit ofCruel Summer/Hawaii costs. Kanye West, someone God had chosen to do something very special in the world. W aiting for a Kanye West album can be an excruciating, interminable experience. But its all too new to know whether in any kind of dispute that language would actually be entered as evidence. So theres this GE aviation series of rewritten contracts. The way that Gruberman has identified these sections is by using his tool called BriefCatch. Its an interesting thing. In the event that Kanye's sixth album, Cruel Summer,exceeds 2.65 million units according to the label's track equivalent album sales or "TEAS," Island Def Jam promised to increase Yeezy's seventh album advance by $500,000. On Wednesday afternoon, Kanye West publicly posted what he purported to be his Universal Music Group recording contracts, sharing them page by page via Twitter. Its sort of a it, Ross Guberman [00:17:40] hasnt been taken. 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. So, you know, theres a lot in contract language thats really just generic legaleese the same kinds of things you see in other documents.