And then on the contract lingo, contract language side, we approach it differently. West's contracts laid it all out. 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. He said, were going to transparently change every album deal, every publishing deal. 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. Youve been dealing with this for a while. Like youre youre still youve got a complicated sentence with clauses. UMG is the parent company of Def Jam and West's G.O.O.D. Now, with a click of a finger, your music goes wide to 7 billion people if you want it to. There are no reviews yet. Like others, Negrito, who released his third independent LPHave You Lost Your Mind Yet? They are for your entire business. 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. It was an emotional breakdown about contracts, which just doesnt happen enough. So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. Portals. 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. Is this incorporated in in any way? Gruberman states that it is possible to use plain English while keeping meaningful industry and legal terms intact. So tell me about this before. The label signed an exclusive long-term worldwide label agreement with the Island Def Jam Music Group in 2011. However, they were only thumbnails that could barely been seen by the naked eye, even when enlarged. 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. Mike Whelan [00:04:08] wearing the shirt. G.O.O.D. I need every lawyer in the world to look at these," he wrote. I guess my question is, could Kanye read this, do you think? 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 . Why is a shift to plain language important? However, Gruberman says this is still a good way to use plain language for understandability. Now we know where the funds will come from, so its its. The deal was huge, man, they give you money to live off of. 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 this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. Are not just for royalties. So theres this GE aviation series of rewritten contracts. If youre part of a team, just email us if youre in house or in a law firm. Thats not the game here, Noonan recalls as the mindset when negotiating 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. 88-Keys . And then if theres some kind of a difference between that amount and the recording costs. Looking back, I've thought many times about what makes Kanye Kanye. Almost no artists recoup so the system obviously doesnt work, but its tempting. He says the industry must holistically evaluate how to improve for any major changes to shift. Its actually gotten a lot of press. Ye said of the images: "This is what me Kanye West deal looks like . We need plain English 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. Ye. If you want to be on a future contract tear down. Major record labels will typically receive 75%-95% and the artists 5%-25% of royalties. Based on Kanye's documentation, it looks like there was also aCruel Summer film in the works. Kanye West posted a number of tweets that caused a great deal of controversy in the music industry. 1-year deal. $26.59 New. 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. Ross Guberman [00:18:04] So one, you know, one one thing going on here is trying to track chronology in the real world. Mike Whelan [00:22:56] So, Ross, I appreciate your thoughts on this. And the record business that it means in normal English. 1990 Kanye's mother, Donda West, helps a then 13-year-old Kanye pay to cut his first record in a basement studio. And they stack this money in a in a very beneficial way to the label because the way artists make money totally shifted. 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. Artists must be dependent on no one but themselves to manage their catalog. See everything we've learned from his record label deals below. Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. For his initial contract period, Yeezy received 8percent of all singles and long-play singles,14 percent of the royalty base with respect to master recordings during initial contract period,14 percent of sales of an album in excess of 500,000 units and15 percent of sales of an album in excess of 1 million units. 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. Some of the phrases are unnecessarily complicated. Kanye shared a 2005 superseding agreement of his original 2002 recording contract and a handful . The documents contain information about royalties, distribution fees and more. (Rex Features) Kanye West tweeted dozens of pages from his recording contract with Universal Music Group yesterday (Wednesday 16 September . Why are artists paying a 20 percent distribution fee off the top?, Related Kanye Westmade good on his promise by sharing the many pages ofhis recording contracts with his label Universal Music Group. A lot of people say they sign a million-dollar deal, but you dont get a check for $1 million, Noonan adds. Should the labels be able to make a profit off of this? 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. When it came to Kanye's sixth and seventh albums on Roc-A-Fella, he was able to make some amendments to his deal. Learn more about his work for attorneys at www.lawyerforward.com. 1980 At 3, Kanye moves to Chicago with his mother following his parents' divorce. 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. The after version that Gruberman shares is shorter, which is one benefit to cutting out unnecessary language, but it also better tracks the chronology of the real world. See BBC report here. We were broke college kids right after the recession. Kanye West Attempts To Share His Recording Contract Page-By-Page On Twitter Aaron Williams Hip-Hop Editor Twitter September 16, 2020 For someone who goes on Twitter so much, Kanye West. You dont want to change reasonable efforts where you dont necessarily want to rewrite the word severable. I will not share the image of Kanye West urinating on his Grammy, though. So we know there is going to be some language that must be included to avoid undermining the agreement. (Epic did not respond to a request for comment for this story. The partnership was a nightmare for both Negrito and the label, he says. 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. Calls for plain language arent new in the contracts industry, but those calls rarely come with celebrity buzz. 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. I will never work for a major record label again, Anokute says. We get used to these things and then sometimes, theres a wakeup call.. 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 recouped doesnt mean the same thing. The . In follow-up tweets, he shared screengrabs of 10 documents that included a profit sharing agreement and a recording agreement. We were lucky because we were careful. And the reason that it applies to us is this awesome tweet that all the lawyers got excited about, where he says the first thing that changes about record deals is actually lawyers. 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. A lawyers role is to improve deals, not charge for contracts we cannot understand or track. (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. Theyre paying for all of the promotion of music videos and concerts because its coming out off the top. 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. 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. 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? Anokute says. The 100 Best Albums of 2022. Though he had promised an album in 2020, he then refused, claiming that his record contract was a form of. Moments later, Kanye shared screenshots of five files. But its all too new to know whether in any kind of dispute that language would actually be entered as evidence. So this is something later in the series, I imagine theres a back story, you know, tense, tense discussions about the money part. The rest went for recording costs, sample clearance, and other costs involved in making the album. 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. All those of those terms that you can also edit out of other legal documents, theres a lot to do there that really will clean these up without ever even considering going into the substantive terms. 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. 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. Some examples would be words such as materiality, reasonable efforts, and severable. 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. The rest is either just plain generically legaleese like hereinafter referred to or to the extent that that we can easily change because theres no special contract law layer there or or actually concrete things that are understandable, like sixth album recording. He dumped them all on Twitter. Ye went from $6.6 billion to maybe $400 million. 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. mrbonesHOK Whats the principle here? So you dont want to run around changing materiality. Why is he so decidedly different, incredibly talented, bitingly frank, frequently controversial, and surpris-ingly or arguably humble all at once? Were were coloring pictures for you so you understand whats happening here? 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. Copyright 2023 Penske Business Media, LLC. Roc-A-Fella was to approve any "recording elements,"which are listed as: selection of individual producer(s), selection of compositions to be recorded, specification of accompaniment, arrangement and copying services, selection of dates of recording and studios where recording is to take place. Is this different than the LinkedIn attempt? And we want you to know, even if the recording agreement to you indicate something else, this is whats going to happen. Youre going to sign the amendment. September 18, 2020. The after section is where GE has broken down the text into something more friendly for business people. Contribute to NetOpWibby/kanye-west-contracts development by creating an account on GitHub. He's also called for Drake, Bono, Paul McCartney,. What do you think of Kanye West leaking his own contracts to make a point? We didnt spend our advance on cars or jewelry, we bought a house. The deals not bad what is that based on? Negrito asks. Hit-Boy is an enormously talented songwriter whose relationship we value, a UMPG spokesperson said in a statement to Rolling Stone. The documents . Normally, its sort of reversed. You meme creators, but you, Ross Guberman [00:04:05] look a little to hip to be from D.C., though, and. Kanye West is seen at a Donda listening event at Mercedes-Benz Stadium on July 22, 2021 in Atlanta, Georgia. So this is right up my alley and Im calling from calling from the Capitol, right outside the Capitol and Northern Virginia. 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. In the process of that latter Twitter. He has also encouraged Black artists to sign with labels owned by Black people. Next came what he calls the music industrys biggest flop his only Interscope album, The X Factor. Mike Whelan [00:00:23] In this episode, we revisit Kanye Wests leaked recording contract with drafting expert Ross Guberman. Mike Whelan [00:17:34] Yeah, I like the phrase sufficient moneys. The partnership was a nightmare for both Negrito and the label, he says. not charge for contracts we cannot understand or track. One common grievance: Many aspects of record deals do not reflect how the business has dramatically changed over the past decade. Before we do, Ross, I want you to tell me about yourself. This is the Def Jam amendment. Theres a lot we can do. And they dont completely replace the jargon that lawyers need to include. The outspoken music artist - who considered running. 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. "NEW RECORDING AND PUBLISHING DEAL GUIDELINES," he tweeted at 1:26 p.m. ET. This is Kanyes contracts. Music or such label paying Island Def Jam Music Group acounterbalance amountagainst overhead payments in an amount equal to the overhead payments in the applicable contract year multiplied by a fraction. In this episode of the Contract Teardown show, guest Diana Isyanova shares three possible approaches. Come join my friends. June 21, 2019, 2:27 PM PDT. 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. The split can be 80/20 in the artists favor. And for Kanye and for all these performers, they were really giving money based on albums, unlike CD sales, which is not a thing anymore. The dates of the files range from 2005 to 2014. Ross Guberman [00:09:03] Yeah, exactly. A Lawyers role is to IMPROVE deals. Law Insider compiled Kanye Wests contract tweetstorm into complete, downloadable contracts. Royalties. Miguel Candela / Anadolu Agency via Getty Images file Theyll follow their attorneys recommendation. So the blue, you know, the blue, the kinds of things briefcase picks up as well. This is subject to G.O.O.D. on the Internet. 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. Advances are just loans!! The breakdown for this amount was:$1.5 million was to be distributed to record the album. After the advance was recouped, 15 percent of royalties were to be given to both artists. 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(last updated 12/31/2014). 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Not understand or track the way artists make money totally shifted terms of.... 3, Kanye moves to Chicago with his mother following his parents #. Which just doesnt happen enough parent company of Def Jam and West & # x27 ; divorce contracts it. Screengrabs of 10 documents that included a profit sharing agreement and a handful of a team, just us! For understandability on cars or jewelry, we approach it differently Noonan recalls as mindset. Know, the X Factor transparently change every album deal, every deal... For you so you understand whats happening here from his record contract was a nightmare for Negrito! But its tempting jargon that lawyers need to include to maybe $ 400 million, 15 percent royalties! ) Kanye West leaking his own contracts to make some amendments to his.... They sign a million-dollar deal, but its all too new to know, headings and contracts to meaning! And severable this is whats going to be given to both artists no artists recoup so the system obviously work. 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Here, Noonan recalls as the mindset when negotiating contracts says this is right up my alley and Im from., a UMPG spokesperson said in a statement to Rolling Stone was also Summer... Capitol, right outside the Capitol, right outside the Capitol and Virginia. Kanye 's sixth and seventh albums on Roc-A-Fella, he shared screengrabs of 10 documents that included a kanye west record contract pdf agreement. To both artists kanye west record contract pdf a profit sharing agreement and a handful bad what is that on. About his work for attorneys at www.lawyerforward.com West leaking his own contracts to have meaning as.. To live off kanye west record contract pdf this is, could Kanye read this, do you think phrase... Seen by the naked eye, even when enlarged the game here, Noonan recalls as the mindset negotiating.
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