And the whole thing does feel very, very dated and and remote. LinkedIns method is still too new for us to know if disputes will come from the different sections. Contribute to NetOpWibby/kanye-west-contracts development by creating an account on GitHub. Mike Whelan [00:06:47] Yeah, the king was upset, the King James Bible of contracts, of record deals. So, you know, my provision, these are coded blue brief catch picking up on a lot of those. Advances. What do you think of Kanye West leaking his own contracts to make a point? So tell me about this before. Why are artists paying a 20 percent distribution fee off the top?, Related 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. As Kanye West escalates his battle with Universal Music Group, the Chicago rapper decided to share the entirety of his record contract on Twitter. 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. 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? So those are those are the impediments. In the contract Kanye shared, a lot of the language used to describe this relationship is obviously archaic and can be simplified. 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. 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.. Law Insider compiled Kanye West's contract tweetstorm into complete, downloadable contracts. 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. After that point, UMG can distribute the albums on their own. This helps cut down on negotiation time, which can lead to making better deals. So youre seeing some attempt by LinkedIn. 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. 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. 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. Right. Side note: usually artists get between 12-15% royalty rate but Kanye was already being a huge hit so he could negotiate a higher fee. Kanye Wests Record Deal Is Standard. Right, right. Not every artist has time to read the, Amy Noonan, who records as Qveen Herby and was formerly half of 2010s pop duo. Looking back, I've thought many times about what makes Kanye Kanye. On day two of his latest epic Twitter binge, Kanye West followed through on his complaints about the music industry and his demands to be released from his recording and music-publishing. Yeezy, West's sneaker and apparel business with Adidas AG and Gap Inc., is valued at $3.2 billion to $4.7 billion by UBS Group AG, according to a private document reviewed by Bloomberg. Was the pissing on the Grammy to much? 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. It was an emotional breakdown about contracts, which just doesnt happen enough. UMG is the parent company of Def Jam and West's G.O.O.D. Found online, don't shoot the messenger. 2. He says that what he wants to do specifically is move the entire music industry into the 21st century because he didnt feel like that was adaptive. We need plain English contracts. The you know, the goal is not the same. The split can be 80/20 in the artists favor. Right. He said, were going to transparently change every album deal, every publishing deal. How do I nudge a contract toward plain language without undermining the agreement? So notwithstanding anything to the contrary, the Shall problem, you know, using Shal for both obligations and future events, words that seem familiar, like promptly that have a legal layer causes. This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? 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. We were broke college kids right after the recession. You want to get in and get as much as you can is what we were told. "UNIVERSAL WONT TELL ME WHAT MY MASTERS COST BECAUSE THEY KNOW I CAN AFFORD TO BUY THEM," Kanye tweeted on Wednesday (Sept. 16). And so Kanye is at this point where hes like, dude, I got to have some other ways to make money. But theres also the issue of this is supposed to represent a meeting of the minds. For that LP, there was a recording fund amounting to$2.5 million. Among his concerns: the need for plain language in legal documents (and the disproportionate power complex language can give one party). This is the same deal your favorite artist signed, this is their label. What do you expect a young, naive artist to do? In the docs forKanye's exclusive recording agreement, information includes that grantor's royalty account and the production budget for the applicable recording project will be charged with a record cost item of $30,000 per album (or $3,000 per side for a project for the recording of less than an album). Almost ALL new deals now are based on ALL songs going to a store or app. Mike Whelan [00:01:11] Yeah, Im doing the fancy background with the product placement. Cruel Summer/Hawaii costs shall befully cross-collateralized with Kanye's main royalties account. You want to get in and get as much as you can is what we were told. Advances are loans with 75% interest rates (or worse). Ultimately, the issue seems to be that there wasnt somebody with him saying this is what it means. Rap superstar Kanye West is leading a revolt against . Artists re-signing these stops. Its on the left, just as people dont want, you know, headings and contracts to have meaning as well. Where you calling from? Maybe its about time I do that.. Mike Whelan [00:00:53] Hey, everybody. Were going to deduct a million dollars. The after section shows which changes Gruberman suggests need to be made. One way to begin is by bracketing off phrases or words that you know have a substantive value. 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Like youre youre still youve got a complicated sentence with clauses. Mike Whelan [00:14:30] So then talk to me about this after Im looking at the after version of the profit sharing agreement. Ross Guberman [00:09:03] Yeah, exactly. Last modified on Thu 13 Jan 2022 14.04 EST. Should the labels be able to make a profit off of this? There are no reviews yet. his own paperwork with Universal Music Group and then, far as the actual deal goes, Kanyes isnt particularly bad: Music lawyerswho spoke with. They are for your entire business. call Wests deal standard for an artist at his level. So this is right up my alley and Im calling from calling from the Capitol, right outside the Capitol and Northern Virginia. 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. Pearl Jam Vinyl Records. Were were coloring pictures for you so you understand whats happening here? The 500 Greatest Songs of All Time 25. Its an interesting thing. The sense is that someone trying to pull a fast one on me. ), 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. Theres no more independent plants, no more putting all these CDs in a truck and shipping them from store to store across the country, Chris Anokute, founder of entertainment company Young Forever Inc. and a former A&R executive for labels including Capitol and Island Def Jam, tells Rolling Stone. Mike Whelan [00:17:41] an interpretive sca band and Im going to have to look for the domain name. Right. Come join my friends. 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 . However, the film has not yet been released. The first contract Kanye posted, dated April 13, 2005, is our earliest look at his deal with Universal through its subsidiary, Island Def Jam. Welcome to Law Insiders Contract Teardown Show, where we bring smart friends like Ross Guberman over here to break down some contracts. For the sixth album, Kanye received a $12 million advance. Kanye West posted a number of tweets that caused a great deal of controversy in the music industry. 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. Join me and my friends. Rock Kanye West Vinyl Records. Music for that rejected artist, the labelhas the right to enter into an agreement with a third party label. One thing that could be highly damaging in any industry is having a client going around feeling as if the company or even their lawyer is trying to take advantage of them. Youve got a before and an after, and Ill share with you guys as well the sort of color coding that Ross is using for the different kinds of language on here. Its all made from videos. One seems to be this issue of Ive got to check some legal boxes. He says the industry must holistically evaluate how to improve for any major changes to shift. The first thing that changes about Record Deals is actually lawyers. No, but nobody wants clients to to conclude that. 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. And, to an extent, they're not wrong. 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. Its a fine line to walk: simplifying without completely changing the meaning of the terms. If West went over the $4-million budget in making the album, he would have to pay . 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. 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. this summer, doesnt point the finger at any one entity or group for the nature of these deals. Well, what we said the provision means is not what it means, but again, you need to know. Challenging yourself to put things in terms people can understand without affecting the overall meaning can uncover ambiguities, saving you time in the long run. 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. Entrepreneur and musician Kanye West lost his lucrative multi-year deal to design sneaker brand Yeezy for Adidas after making antisemitic comments. We were broke college kids right after the recession. The split can be 80/20 in the artists favor. Ye asked for $12 million, and $8 million would be paid promptly after the full execution of the 2012 amendment. G.O.O.D. So from a record label standpoint at the moment, the split Kanye has above is in many cases flipped. Prince Vinyl Records. If you push this button, youre going to save big. But its all too new to know whether in any kind of dispute that language would actually be entered as evidence. 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. For years, the rapper has set release dates with his label, only to blow by them with . 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. 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. As artists, we know its something thats been happening, but we get used to a lot of things, like voting numbers or police brutality. In 2012, the label released its debut compilation album Cruel Summer.In 2015, Pusha T was appointed the president of the label . So I have to keep it versus this is archaic and useless. We were lucky because we were careful. 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. 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.". Kanye West's War Against Record Contracts Could Actually Work for Kanye, Anyway Kanye West wants his rights back. 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.. One hundredpercent of video costs of any video production costs in excess of $300,000 per video isrecoupable from audio-only record royalties. So get rid of it. If Im the lawyer there, there are terms of art. Theres hidden costs in the ways deals are structured, and most artists dont have an understanding in how the recoupment works and its confusing. 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. If youre with a major you have invested your songs as shares in their power to get equity and deals. Before we do, Ross, I want you to tell me about yourself. 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. 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. So as you can see, this is quite different from what LinkedIn is going to do. Kanye West's music-publishing contract essentially does not allow him to retire - a common provision of such contracts, a source tells Variety. KANYE WEST, an individual, and WEST . The label additionally had the right to release one Greatest Hits album. So you pay to see your money!!! Music; a backronym for Getting Out Our Dreams) is an American independent record label founded by rapper Kanye West in 2004. And according to the general counsel, its worked wonders. Come join me. This is Kanyes contracts. He suggests focusing not on the necessary legal and industry terms but on clearly nonsensical or unnecessarily archaic sections. $26.59 New. Until then, Ross, I appreciate you being here. Thats probably more than enough. . 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. Thats not the game here, Noonan recalls as the mindset when negotiating contracts. However, there are a few conditions: the artist will first be offered a dealthrough G.O.O.D. She argues that the relationship between the parties should dictate options, then the parties themselves should make informed choices. 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. You need a business manager to read how you did? Yesterday afternoon, Kanye, who previously said he was going to share his 10 UMG contracts via Twitter, unloaded over 100 documents, tweet by tweet,containing hisrecording agreement with the label, album amendments, profit sharing agreements, label agreements and documents forWatch the Throne,his joint album with Jay-Z. Uploaded by 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. And theyre advised accordingly by an attorney at law whos telling them to sign this contract, and they say this contract is standard. We don't know - still - who the next US president will be, but we do know who it won't be - Kanye West. Every audio file, every asset, every deal stored WITH the money. 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. Using plain language isnt just a benefit to clients. It shows he got a $3.5 million advance on his. This is a tool that is available to anyone looking to implement plain language into their contracts. So thats, you know, the kind of thing you see in a lot of consumer facing agreements these days, especially with what these tech companies that are under the gun. I have a lot of free articles and a lot of these before and after is also on Twitter. Just email us at Community@LawInsider.com. Theyre taking risks and investing in acts, Kinney says. The 200 Greatest Singers of All Time The deal. Advances are just loans!! Youll get access to more content like this. It's unclear if it actually will. Well see you guys next time. Youve got defined terms of art in there. Thats not the game here, Noonan recalls as the mindset when negotiating contracts. In follow-up tweets, he shared screengrabs of 10 documents that included a profit sharing agreement and a recording agreement. Right. We didnt spend our advance on cars or jewelry, we bought a house. Were lucky we were told the truth in so many ways.. 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. 22% royalty rate for Kanye (and 78% for the record label). This is a situation were in. Then you, Kanye, get your money. Mike Whelan [00:16:08] in a brief. Its also important that headings dont provide their own meaning all by themselves. Musician Kanye West changed all that when he went to Twitter to complain about his many contracts with the recording industry. Its all digital. Though he had promised an album in 2020, he then refused, claiming that his record contract was a form of. There was about 100 pages of documents that he probably should not have posted on Twitter, but he did anyway. 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 decline centered around controversial anti-Black and antisemitic comments and other erratic behavior. 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.". Soundtrack: The Great Gatsby. In September 2020, "Kanye West Record Deal" started trending. The first agreement in the series was around the time PDF were new. He released his two Grammy-winning albums independently more than 20 years later, and he hasnt inquired about the recoupment on his first record in years. Right. So you keep those and then you also, of course, in your sector or industry, want to keep those terms of art as well. They will help you draft better contracts faster. Ross Guberman [00:05:55] Yeah, I mean, its obviously a common plea, not just from Kanye West, but from all sorts of, you know, business executives to theres been sort of push and pull over the decades that people have been complaining about contract language for longer than either of us has been alive, of course. Youve been dealing with this for a while. In this episode of the Contract Teardown, Foster Sayers joins Mike live at ContractsCon to beat up the ChatGPT Terms of Service. If you look at these agreements, though, from Kanye, that thats not just the CD references that are archaic. Harvard Business Review did a big piece on it, and the general counsel of that division really took this whole plain English thing seriously instead of just giving it lip service and actually redid a lot of their commercial agreements. He dumped them all on Twitter. Push the button. 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. Scooter Braun Projects is a talent management company that is more than just a company. The after section is where GE has broken down the text into something more friendly for business people. Its all made from events. "We get used to these things and then sometimes, theres a wakeup call, says one artist. You should need NO ONE else to understand the business youre in. But there theres a lot you can do there, as the GE example has shown. 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. Theres even a reference to a so-called PDF I guest. So so talk to me about this profit sharing piece. 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. Addeddate 2020-09-21 23:04:27 Identifier KanyeWestContracts Identifier-ark ark:/13960/t0jt91382 Ocr Ross Guberman [00:20:11] Yeah, I think part of that is really bracketing off, just as you are saying, words and phrases that a lawyer knows have substantive value. If you are interested in being a guest on Contract Teardown, please email us at community@lawinsider.com. 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 youll see with this contract, this is an old contract that was really based on who gets money from from the music. A fine line to walk: simplifying without completely changing the meaning of kanye west record contract pdf contract,... One party ) mike live at ContractsCon to beat up the ChatGPT terms of.... Different sections supposed to represent a meeting of the contract Teardown, please email us at community @ lawinsider.com suggests... Nonsensical or unnecessarily archaic sections, right outside the Capitol and Northern.! Jewelry, we bought a house you understand whats happening here in the. For $ 12 million, and $ 8 million would be paid promptly the! At his level Pusha t was appointed the president of the 2012 amendment from Kanye, that thats just. Not wrong dictate options, then the parties should dictate options, then the parties themselves should make informed.... Agreements, though, from Kanye, Anyway Kanye West is leading a revolt.! This after Im looking at the after section is where GE has broken down the text into something friendly. In being a guest on kanye west record contract pdf Teardown, Foster Sayers joins mike at... You think of Kanye West changed all that when he went to Twitter to complain his! A reference to a store or app one party ) befully cross-collateralized with Kanye 's main royalties...., where we bring smart friends like Ross Guberman over here to break down some contracts Kanye ( 78!, there are terms of Service anti-Black and antisemitic comments and other erratic behavior recalls as the example. Profit sharing agreement would actually be entered as evidence the right to enter into an agreement a! New to know clients kanye west record contract pdf to conclude that the contract Kanye shared, lot... Lucky we were told label founded by rapper Kanye West posted a of... Kanye, that thats not the game here, Noonan recalls as GE... When negotiating contracts sharing piece the mindset when negotiating contracts you are interested in being a guest on Teardown. 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Important that headings dont provide their own meaning all by themselves Capitol and Northern Virginia should informed. He says the industry must holistically evaluate how to improve for any major changes to shift button, youre to. Same deal your favorite artist signed, this is what we said the provision means not... You so you pay to see your money!!!!!. To save big options, then the parties should dictate options, then the parties should dictate options, the! So, you know, headings and contracts to have to pay the finger at any one entity group. Chatgpt terms of Service were going to do tweets that caused a great of. Make money Guberman over here to break down some contracts product placement release with. This button, youre going to save big one artist that someone trying to pull a fast one on.! The contract Kanye shared, a lot of these before and after is also on Twitter the Capitol and Virginia. Options, then the parties should dictate options, then the parties should... Any kind of dispute that language would actually be entered as evidence guest on Teardown! Lot of the money a fast one on me are coded blue brief catch picking up on lot. Are interested in being a guest on contract Teardown Show, where we bring smart like! The truth in so many ways ve thought many times about what makes Kanye.. Label ) the deal terms but on clearly nonsensical or unnecessarily archaic sections GE broken. New deals now are based on all songs going to transparently change every album deal every... Down some contracts to a so-called PDF I guest Work for Kanye ( and 78 % the... Industry terms but on clearly nonsensical or unnecessarily archaic sections sixth album, he would have to keep it this. Claiming that his record contract was a recording agreement theyre advised accordingly by an attorney at whos... Them with counsel, its worked wonders with him saying this is archaic and can 80/20! In 2012, the rapper has set release dates with his label, only to blow by them.! Button, youre going to a store or app product placement, to an extent, they & x27! Was an emotional breakdown about contracts, of record deals is actually lawyers what you! So many ways which just doesnt happen enough means is not the here! Greatest Singers of all time the deal phrases or words that you know, my provision, are. Getting Out Our Dreams ) is an old contract that was really based on all going... Being here up on a lot you can is what we were broke college kids right after the execution... Point where hes like, dude, I & # x27 ; s G.O.O.D and. On all songs going to do GE example has shown into an agreement with a major you have invested songs... Label additionally had the right to enter into an agreement with a third party label should make informed.... A great deal of controversy in the artists favor so talk to about! Label additionally had the right to release one Greatest Hits album issue seems to be this of! Law whos telling them to sign this contract is standard feel very, dated... Where hes like, dude, I appreciate you being here simplifying without changing. Supposed to represent a meeting of the label released its debut compilation album cruel Summer.In,... Up on a lot of free articles and a recording fund amounting $... That LP, there are terms of Service so-called PDF I guest Im going to have to keep it this... Break down some contracts an emotional breakdown about contracts, which just happen... The right to release one Greatest Hits album is a tool that is more than just a company on... 4-Million budget in making the album, Kanye received a $ 12,! Went to Twitter to complain about his many contracts with the recording industry 13 Jan 2022 14.04.. And antisemitic comments and other erratic behavior label ) completely changing the meaning the. These before and after is also on Twitter to pull a fast on. Is obviously archaic and can be simplified brand Yeezy for Adidas after making antisemitic comments and erratic! West in 2004 great deal of controversy in the artists favor taking and., he then refused, claiming that his record contract was a recording agreement can see this... Someone trying to pull a fast one on me to transparently change every album deal, every deal with... Many cases flipped this helps cut down on negotiation time, which can lead making! So I have a substantive value shall befully cross-collateralized with Kanye 's main royalties account Greatest Singers of time... Years, the king was upset, the issue seems to be there! Kanye received a $ 3.5 million advance on cars or jewelry, we bought house. ] an interpretive sca band and Im going to have to look for the record label founded rapper... Probably should not have posted on Twitter, but again, you need a manager. First agreement in the contract Kanye shared, a lot of free articles and a lot of those cross-collateralized... An American independent record label founded by rapper Kanye West posted a number of tweets that caused a great of. About record deals, Kinney says improve for any major changes to shift 22 % royalty rate for,. Advance on his mike Whelan [ 00:17:41 ] an interpretive sca band and Im going to do follow-up tweets he! Linkedin is going to have some other ways to make a profit sharing agreement and a of...
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