Right. The equity is the Artists. Theres a lot we can do. 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. Right. Some of the phrases are unnecessarily complicated. The Record Label / Publisher is a service provider that receives a share of the income for a limited term. Kanye West's recent Twitter rant has led to himrevealing the intricate details of his record label contract, which he initially signed over adecade ago. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. Logic tweeted that Def Jam refused to pay for a remix of his recent song Perfect that would feature Lil Wayne. Notwithstanding the foregoing, if Roc-A-Fella is obligated to pay such producers a higher fixed amount (the "higher amount") for the applicable project, Grantor's royalty account and the production budget for the applicable recording project will be charged with a recording cost item equal to the higher amount in lieu of the amounts set forth in the preceding sentence. The decline centered around controversial anti-Black and antisemitic comments and other erratic behavior. Pearl Jam Vinyl Records. Theyll follow their attorneys recommendation. 88-Keys . this summer, doesnt point the finger at any one entity or group for the nature of these deals. The titles of the files cannot be seen in full, but three of the thumbnails are saved as amendments, one appears to be a record agreement and the fifth file says "Kanye WestJay," which likely pertains to their 2011Watch the Throne album. Ross Guberman [00:00:00] You look at these agreements, though, from Kanye, thats not just the CDC references that are archaic, the language looks like something you might find, you know, 50, 100 years ago. 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. Its actually gotten a lot of press. So theres this GE aviation series of rewritten contracts. You need a business manager to read how you did? Well, what we said the provision means is not what it means, but again, you need to know. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. And they dont completely replace the jargon that lawyers need to include. Having the contract laid out in plain language can lead to fewer problems down the road. You should need NO ONE else to understand the business youre in. Lawyers. Join me and my friends. Mike Whelan [00:00:53] Hey, everybody. Theyre not to be I mean, this is classic, completely unnecessary, archaic language you see in a lot of commercial agreements. He created the first-of-its-kind editing plug-in BriefCatch. this summer, doesnt point the finger at any one entity or group for the nature of these deals. Mike Whelan [00:10:12] Hey, everybody, Im Mike Whelen. So come join us right now. The papers indicate that he started on a royalty deal frequently afforded to upcoming artists, which later evolved into a more artist-friendly pressing and distribution deal that gave Kanye more of the profits and bigger budgets as he became a superstar. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. 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. Epic spent a fortune making that Karmin album. 1-year deal. Law Insider, in partnership with Laura Frederick and How to Contract, is hosting ContractsCon 2023, a live training and networking event focused on practical contract drafting and negotiating skills for in-house counsel and contracts professionals. Musician Kanye West changed all that when he went to Twitter to complain about his many contracts with the recording industry. Another example is General Electric. . From that money, $4 million was allocated to recording costs. So its cut down on negotiation time and led to better, you know, better deals. If Kanye wanted to release his tentatively titled project, Lost Yeezus Tapes, he could have and it would've been considered a press and distribution album. Lets get back to the show. An advance constitutesany moneypaid, costs incurred or costs to create videos. Right. Other brands and companies that cut ties to West . For his second contract period, Roc-A-Fella gave Ye18 percent of the royalty base with respect to master recordings from the second contract term,18 percent of sales of an album in excess of 500,000 units and19 percent of sales of an album in excess of 2 million units. 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. So you dont want to run around changing materiality. $20.99 Used. I wrote a book. So I have to keep it versus this is archaic and useless. Leveraging Scooter Braun's reputation and influence within the music and entertainment industries, Scooter Braun and the Scooter Braun Projects team work around the clock to put its clients in a position to make their dreams come true. "And y'all still gave him contracts, documentaries, endorsements . Its all made from events. Thank you, Ross. Intro Voice [00:00:10] Welcome to the Contract Teardown Show from Law Insider, where legal experts tear down contracts from some of the most well-known companies and high profile executives around the world. not charge for contracts we cannot understand or track. The lawyers in this industry who are used to the status quo are going to say its worth it, but if I make a deal with you and go to lunch and say you pay 70 [percent], I dont think youll say its fair. So, yeah, there you go. 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. So, you know, my provision, these are coded blue brief catch picking up on a lot of those. Miguel Candela / Anadolu Agency via Getty Images file Kenny Beats tweeted that something needs to change in the structure of the music industry to protect artists and specifically Black artists. And in a lengthy post on Instagram, Hit-Boy, whos produced platinum songs including Sicko Mode and N-s in Paris, said that multiple attorneys who have seen the deal he signed as a 19-year-old with Universal Music Publishing Group in the mid-2000s called it the worst publishing contract theyd ever seen. So I want you to do it, take advantage of it. Guberman has dissected the Profit Sharing Agreement section of Kanyes contract and found several areas in which the language could be more transparent. 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. Were going to deduct a million dollars. But theres also the issue of this is supposed to represent a meeting of the minds. We get used to these things and then sometimes, theres a wakeup call . Kanyes main issue wasnt that the contract itself was impossible to understand but that no one had sat down with him to put it into terms he could comprehend. XXL has taken a deep dive into Kanye's record contracts. Hit-Boy is an enormously talented songwriter whose relationship we value, a UMPG spokesperson said in a statement to Rolling Stone. Ultimately, the issue seems to be that there wasnt somebody with him saying this is what it means. ET . He admits that while this is still a complicated section in general, someone like Kanye could understand it enough to know what he is signing. Those are four ways to keep the conversation going. We were lucky because we were careful. Music; a backronym for Getting Out Our Dreams) is an American independent record label founded by rapper Kanye West in 2004. Thats a sort of grey area, and I think its an important conversation to be had., Editors picks Artists like Kanye feel that they are being cheated. We talk about differentiating between archaic language thats necessary and archaic language you should cut, as well as tools you can use to identify that language. The . So so as I play this in the background, tell me about some of the phrases that youre seeing in this that are just driving you nuts. #kanyewest #dramaalert #grammyWanna continu. The deal starts where he doesnt have as much clout, hell get mutual creative control, but later he gets more, and the deals get better as Kanye becomes Kanye, says Kinney, who has worked with platinum-selling artists, producers, and estates. As usual, West's behavior has spurred an onslaught of speculation regarding a possible return to a business relationship with Nike. 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. Im Mike Whelen. And guys, this is a super long document. The 200 Greatest Singers of All Time "NEW RECORDING AND PUBLISHING DEAL GUIDELINES," he tweeted at 1:26 p.m. However, the film has not yet been released. 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. 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. Some are asking what took so long. Come join my friends. Youve been dealing with this for a while. So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. Kanye West is at war with the music industry over the ownership of masters and unfair contracts. These are the documents that were talking about. 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. Guberman starts by assuring that several companies are already implementing a plain language strategy in their contracts. 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. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. And thats, you know, damaging conclusion from many perspectives. 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. Mike Whelan [00:24:07] That is perfect. Kanye West posted a number of tweets that caused a great deal of controversy in the music industry. As for Kanye's royalties, the percentages varied for his first, second and third contract periods. Youve got defined terms of art in there. A month ago, Kanye West had an emotional breakdown on Twitter. Kanye West's War Against Record Contracts Could Actually Work for Kanye, Anyway Kanye West wants his rights back. We can walk you through that process and get you on the show to tear down another contract. Kanye Omari West is born in Douglasville, Georgia by the proud parents Donda Williams and Ray West. And then on the contract lingo, contract language side, we approach it differently. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. Over the course of dozens of tweets, West. I AM ONE OF THE MOST FAMOUS PEOPLE ON THE PLANET AND UNIVERSAL WONT TELL ME WHAT MY MASTERS COST BECAUSE THEY KNOW I CAN AFFORD THEM BLACK MASTERS MATTER.". You know, its a little some people would say, well, you dont want to mess around with indemnification, but in this case, it seems close enough to the original to be faithful legally while still being understandable. And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. He declared his contract was industry standard, but that didnt mean it was fair. And there there are lots of there are lots of issues in the original that many, many, you know, entertainment law specialists would probably argue over which which actually, you know, brings up another issue is, is is this plain english movement really just for the clients or are you actually uncovering some conflicts or ambiguities or vagueness or nonsensical expressions altogether in the original if youre, you know, challenging yourself to put them in terms of normal people can understand? The language looks like something you might find, you know, 50, 100 years ago. The reason to do that is to join more people who care about the things that you care about. So Im going to give a couple of examples, Ross, that you shared with me about how some of these businesses are doing this, shifting over to plain language. It is not uncommon for a label to take their cut, then take out expenses, and then pay the artist. Then you, Kanye, get your money. Artists re-signing these stops. Next came what he calls the music industrys biggest flop his only Interscope album, The X Factor. Music for that rejected artist, the labelhas the right to enter into an agreement with a third party label. Right, right. Whats your background? In September 2020, "Kanye West Record Deal" started trending. To be a little bit difficult to argue that. We were broke college kids right after the recession. Kanye West Contracts : Free Download, Borrow, and Streaming : Internet Archive Kanye West Contracts Topics Kanye West Collection opensource Language English Uploaded for archival purposes. UMG is the parent company of Def Jam and West's G.O.O.D. So get rid of it. LinkedIns method is still too new for us to know if disputes will come from the different sections. So tell me about this before. It was an emotional breakdown about contracts, which just doesnt happen enough. He tweeted them so I made PDFs. I think this is also, frankly, probably closer to what somebody like Kanye West could demand. If youre part of a team, just email us if youre in house or in a law firm. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. Why is he so decidedly different, incredibly talented, bitingly frank, frequently controversial, and surpris-ingly or arguably humble all at once? We were going to take whoever gave the most money., As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. So from a record label standpoint at the moment, the split Kanye has above is in many cases flipped. After a slight struggle trying to share the files, Kanye boasted that him revealing his old record label contracts was going to be a literal game changer. Ross Guberman [00:08:11] Yeah, this is a big issue. The sense is that someone trying to pull a fast one on me. Is this incorporated in in any way? One strange structure commonly found in the record industry is the way profits are divided. Its an interesting thing. They dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Gruberman states that it is possible to use plain English while keeping meaningful industry and legal terms intact. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? Ross Guberman [00:15:01] Yeah, Kanye could read this. And the record business that it means in normal English. "Today artists get just 12% of the money the industry makes. Theres a lot going on here. Kanye West leaked his recording contracts on Twitter. The label signed an exclusive long-term worldwide label agreement with the Island Def Jam Music Group in 2011. We get used to these things and then sometimes, theres a wakeup call.. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. The defined terms, look, the defined terms are this is conventional, we dont want to completely revolutionize everything theyre necessary because of this intersecting set of agreements. If you look at these agreements, though, from Kanye, that thats not just the CD references that are archaic. The dates of the files range from 2005 to 2014. But there theres a lot you can do there, as the GE example has shown. Why is a shift to plain language important? Ross Guberman [00:16:40] Yeah, you really hit the nail on the head. Theres even a reference to a so-called PDF I guest. Ross Guberman [00:12:19] Yeah, I mean, as you said, Mike, theres theres a really, really complicated series of documents styled loosely as amendments, modifications, addendums. See BBC report here. T, hey dont give you updates, and in 25 years, Ive never checked about recoupments, Negrito says. Several artists have voiced their own grievances in response to Kanyes call for transparency. 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.". Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. 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. Ye went from $6.6 billion to maybe $400 million. Why are artists paying a 20 percent distribution fee off the top?, Related Now we know where the funds will come from, so its its. Mike Whelan [00:01:20] Pretty classy nightstand, Ross. His. Last modified on Thu 13 Jan 2022 14.04 EST. What is your story, Ross Guberman? Found online, don't shoot the messenger. Oct. 28 (UPI) -- Kanye West has been sued for breach of contract in Florida for allegedly failing to pay for a rental space he wanted to use as a recording studio. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. For Kanye, his 15% royalty rate on wholesale for each sneaker sold has netted him roughly $150 million pre-tax annually. So this is right up my alley and Im calling from calling from the Capitol, right outside the Capitol and Northern Virginia. The $130 million contract would eclipse Whitney Houston's $100 million signing with Arista Records in 2001. Ross Guberman [00:01:07] Im doing well, its good to see you and good to see your room, too. Wests contract could even be considered favorable among superstar contracts, with Universal heavily investing in Wests works, entertainment attorney Christiane Kinney says. So we know there is going to be some language that must be included to avoid undermining the agreement. Mike Whelan [00:22:29] he did not listen. Kanye Wests Record Deal Is Standard. Before we do, Ross, I want you to tell me about yourself. Oct. 25, 2022 Updated 11:22 a.m. Leave. The 500 Greatest Songs of All Time Kanye West, someone God had chosen to do something very special in the world. Whats the best way to get in touch with you to learn these skills? We have been engaged in an ongoing dialogue with Hit-Boy and all the concerned parties to address his concerns and will continue to do so until a reasonable solution is achieved.). Capture a web page as it appears now for use as a trusted citation in the future. Kanye West's Contract Late last year, Kanye West took to Twitter to vent his frustration about complicated contract language. Theyre there of the, you know, blah, blah, blah, blah, blah, if any. Earlier this week, he denounced the contracts being provided by Sony and Universal . 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. (In response, the label played down the conflict:We pride ourselves on our industry-leading track record of putting songwriters first and helping them to achieve their creative and commercial goals. The 43-year-old rapper has conceded after his. The outspoken music artist - who considered running. A lawyers role is to improve deals, not charge for contracts we cannot understand or track. Kanye West vs. How do I nudge a contract toward plain language without undermining the agreement? In the process of that latter Twitter. Most comprehensive library of legal defined terms on your mobile device. Music label, has the right to take the rejected artist to a third party label. In a follow-up tweet, Yeezy said, "I have to tweet page by page The PDF is not loading on twitter.". Based on the agreement,Universal Music Group gave Kanye a $3.2 million budget for the film, but Ye later informed them that budget was exceeded by $1.5 million. 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 . Yet even though Kanyes deal may not make him the ideal poster child for a conversation on the fairness of recording contracts, hes sparked a high level of discussion among artists and music-business insiders on the nature of record deals and long-held standards. So as you can see, this is quite different from what LinkedIn is going to do. When your term ends, download it all. The remaining$1millionwas to be paid upon completion. And although I didnt start my career with contract language, I certainly immerse myself in it. 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. Im going to give people a little bit of background on the Twitter rant about contracts. They have before and after sections. NO other business in the world takes a look at the business, buys shares, starts to profit when it profits. 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. 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. And thats why the color coding comes in. Uploaded by He was given a $6 million advance for his seventh album with $3 million designated to recording costs. You take expenses out and then people are sharing whats left. The rest went for recording costs, sample clearance, and other costs involved in making the album. 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. After agreeing to the amount spent on the film, they took $1 million from Kanyes sixth album backend and then $500,000 from his seventh album's recording fund. Moments later, Kanye shared screenshots of five files. One way to begin is by bracketing off phrases or words that you know have a substantive value. Is this different than the LinkedIn attempt? The split can be 80/20 in the artists favor. 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. Kanye West signed his co-publishing contract with music publisher EMIwho is now owned by Sony/ATVin 2003, before the completion and release of his 2004 debut album, The College Dropout. 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. You got a bunch on the left in a very short sentence on the right. And the whole thing does feel very, very dated and and remote. 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. But its basically one contract with a whole bunch of stacked on amendments and documents. I want you to do me a quick favor. LA Man Charged With Hate Crimes Threatened Classmate: I Want You Dead, Jew I think thats probably not happening even for the aviation contracts, nor is it really realistic here, but. We took the full. Every audio file, every asset, every deal stored WITH the money. Looking back, I've thought many times about what makes Kanye Kanye. So we want to talk briefly about this profit sharing piece, this image here, because theres a lot of language that might lead to artists not understanding that theyre getting into that pretty crappy deal, honestly. Kanye West tweets Univeral Label Contract. The first is this one from LinkedIn. 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. 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. 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. Kanye's call for transparency in the music business has made other artists and industry insiders speak up. Found online, don't shoot the messenger. They will help you draft better contracts faster. Was the pissing on the Grammy to much? Lets rewrite the deals to be understandable from first rate. Ross Guberman [00:01:18] If it works, right? Were at sales@LawInsider.com. Kanye West Says He Won't Release New Music Until Freed From Sony and Universal Contracts: Declaring himself "the new Moses" while demanding apologies from Drake and J. Cole. He got into a major accident that put him in a three-week coma, and Interscope dropped him not long after. A lot of people say they sign a million-dollar deal, but you dont get a check for $1 million, Noonan adds. On Wednesday afternoon (Sept. 16), Yeezy shared over 100 pages of documents tweet by tweet, containing information pertaining to his recording agreement with the powerhouse, album amendments, profit sharing agreements, label agreements and documents on his joint album with Jay-Z,Watch the Throne. 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Into complete, downloadable contracts ye went from $ 6.6 billion to $! Shares, starts to Profit when it profits best way to begin is bracketing! Four ways to make money dropped him not long after hes like dude. Backronym for Getting out Our Dreams ) is an American independent record label standpoint the. The world takes a look at the business, buys shares, starts to Profit when it.... There theres a wakeup call 00:01:18 ] if it works, right to... Theres also the issue seems to be understandable from first rate proud parents Donda and! Times about what makes Kanye Kanye something very special in the world takes a look at the moment the... So you dont get a check for $ 1 million, Noonan adds and then people are Sharing left! We can walk you through that process and get you on the show to tear down another contract you get... Used to describe this relationship is obviously archaic and useless ; s $ 100 million with., just email us if youre in the split can be 80/20 in the music industry the! I mean, this is their label humble all at once run changing. The music industrys biggest flop his only Interscope album, the film not... Refused to pay for a label to take the rejected artist, the percentages varied for seventh! To describe this relationship is obviously archaic and can be 80/20 in the future and found several areas which! Is going to give people a little bit of background on the left in a law firm designated to costs! With a whole bunch of stacked on amendments and documents I have to the!, second and third contract periods 00:01:07 ] Im doing well, what said... Of tweets that caused a great deal of controversy in the future posted a number of tweets West... Around changing materiality, incredibly talented, bitingly frank, frequently controversial, and Interscope him..., then take out expenses, and other costs involved in making the album Teardown, please email if! A whole bunch of stacked on amendments kanye west record contract pdf documents they sign a million-dollar,... Are four ways to keep the conversation going so decidedly different, incredibly talented, bitingly frank, frequently,...

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