If you are passionate about pursuing a career in music, perhaps you have considered signing to a record label. Having a record deal does not mean instantaneous success. While many successful music artists are signed to huge record labels, there are a growing number of artists that choose to be independent. While some record deals could hurt your career’s future, others can help take you to the next level. It is important to choose the right contract or deal to guide your career down the most successful path.
Do not sign anything until you have read it
It is extremely important to read over any contract or agreement word-for-word before you sign it. Even though it may be boring and time consuming, it will be worth it in the long run. Think very carefully before signing a 360 deal (a business relationship where the company offers the financial support in exchange for portion of the artist’s revenue).
Do not get ripped off
It is common knowledge that musicians get ripped often on a regular basis. Even some of the most seasoned professionals have been ripped of by their managers, labels, promoters, venues, websites, clothing designers, and others involved in their career. Make sure you understand how the music business works, not just how to create and produce music. Knowledge is the key to making a name for yourself in this cut-throat industry. If possible, obtain all of the copyrights, contracts, and information you need to protect yourself.
Do not send low quality or unfinished tracks
Your demo track is meant to show the full spectrum of your talent and abilities. Therefore, you want to make sure your tracks are finished and of the highest possible quality to truly showcase your musical talents. It also needs to mixed and mastered in a way that compliments your work. Producing a great, finished track will put you ahead of your competition and show the label that you are taking your career progression seriously.
Do not copy and paste
If you are attempting to contact hundreds of record labels, do not copy and paste the same information to every label. Make sure you tailor your email to the specific label you want to approach, including a personal touch each time. Research the record label to find out specific information that could improve your chances of getting a response.
Do not demand an unreasonable royalty rate
Royalties are a great way to earn money from your music. Royalty rates vary depending on the artist’s success. New artists that do not have much of a following and not much notoriety, a royalty rate of five to ten per cent is average. Up and coming artists that have gained a following usually have royalty rates between ten and fourteen per cent. Famous, experienced music artists’ royalty rates receive upwards of eighteen per cent in royalties.
Feel free to share any of your experiences below in the comments.